Anti-climate Change Mission: Novikom's Commitment
NOVIKOM, a leading Russian bank, has developed a comprehensive risk management system for climate risks within the organization, bolstering its commitment to low-carbon development. This climate policy aligns with the Russian Federation's Strategy for Social and Economic Development with low greenhouse gas emissions by 2050.
The bank's climate policy underscores its intention to consider its role in climate change and adapt to its repercussions when making management decisions. By acknowledging its responsibility for the planet and the country, NOVIKOM offers clients various mechanisms to implement climate and sustainable development projects.
Recognizing the significance of combating climate change and preserving the environment, NOVIKOM aims to identify and assess climate risks more effectively, reduce their impact on its activities, and provide opportunities for clients to adapt to new conditions and adopt advanced technologies. The bank currently boasts a portfolio of "green" loans worth 10.4 billion rubles, contributing to the greening of domestic industry and enhancing the quality of life for the population.
This climate policy builds upon and expands NOVIKOM's existing sustainable development management system. Since 2021, the bank has consistently implemented measures in environmental protection, social responsibility, and corporate governance (ESG), following the provisions outlined in its approved Sustainable Development Concept. These efforts have resulted in a decrease in electricity consumption by 25% and a reduction in greenhouse gas emissions by 29% over the past two years.
NOVIKOM has also established its own ESG model to evaluate the risks of potential clients. The bank now plans to evaluate its activities from the perspective of climate risks and promote this approach among its employees and clients.
By adopting such a policy, NOVIKOM is not only contributing to Russia's strategy for reducing greenhouse gas emissions but also supporting economic growth while improving public health and social well-being. In line with national and international objectives, the bank promotes sustainable practices and encourages the development and adoption of technologies that support low-carbon operations.
- What role does NOVIKOM intend to play in addressing climate change and preserving the environment, as indicated by its climate policy? It aims to consider its role, adapt to repercussions, and offer clients mechanisms for implementing climate and sustainable development projects.
- How does NOVIKOM's climate policy align with the fiscal landscape? By providing opportunities for clients to adapt to new conditions and adopt advanced technologies, the bank is not only supporting sustainable practices but also contributing to economic growth.
- In what areas has NOVIKOM been actively involved in implementing measures for sustainable development? Beyond its climate policy, the bank has been consistently implementing measures in environmental protection, social responsibility, and corporate governance (ESG), as outlined in its approved Sustainable Development Concept.
