company of the Rosseti Group and Sovcombank entered into a
cooperation agreement aimed at implementing the ESG agenda. The
document provides for the attraction of a loan by the electric grid
company, the interest rate of which is tied to the fulfillment of
criteria in the field of sustainable development. This is the first
financing in the energy sector issued as part of the implementation
of ESG indicators and the disclosure of reporting on compliance with
the ESG principles.
companies of the Rosseti Group are consistently working to implement
the principles of sustainable development. In 2021, we were the first
in the Russian market to receive an ESG rating from the ACRA agency,
and today we are the first in the energy sector to be able to attract
ESG financing at a below-market rate. We will continue to work in
this direction. We are convinced that this agreement will contribute
to the development of the responsible financing market in Russia and
the spread of ESG practices,” stressed Alexey Polinov, Acting
Deputy Director General for Economics and Finance of PJSC Rosseti.
Bank continues to develop an ESG-oriented business, following the
adopted goals and commitments. We will adapt the pace of their
implementation to the current conditions, but the relevance of
projects aimed at the transition of the economy to low-carbon
development has remained unchanged. The agreement with Rosseti is a
confirmation of this,” explained Sergey Khotimsky, First Deputy
Chairman of the Board of PJSC Sovcombank.
is a pioneer in sustainability and ESG in Russia. In 2000, the bank
organized the first issues of green and social bonds, and also began
issuing loans, the rates of which are tied to indicators of
sustainable development (ESG-linked loans). At the end of 2021,
Sovcombank launched a line of ESG deposits for corporate clients.
document was signed by General Director of Rosseti Centre, PJSC - the
managing organization of Rosseti Centre and Volga region, PJSC Igor
Makovskiy and Deputy Chairman of the Board of Sovcombank Mikhail
Makovskiy emphasized that “the provision of ESG financing is a
confirmation of the company’s high performance in the field of
sustainable development and green technologies. Receiving funding on
favourable terms will reduce debt service costs and the tariff burden
for our consumers”.