Work has begun on organizing monitoring of environmental and social risks in the active operations of the bank

Discussions about various risks associated with environmental, social and governance aspects (ESG) are gaining importance and intensification due to COVID-19. Companies are facing changing behaviors and habits that are changing business practices. More importantly, banks are coping with the unfolding asset value crisis and the associated credit risks, both in terms of lending and asset management.


From this point of view, the bank also takes a number of measures to effectively manage these types of risks. In particular, as previously reported, the bank has organized the work of the environmental and social risk management system. The system implies a set of actions aimed at identifying, assessing and managing risks associated with environmental, social and management aspects of projects and banking activities in general. To ensure these goals, the bank already has a mechanism for assessing environmental and social risks in each loan application under consideration through the CRM-light system. This system is already fully operational in the bank. But the assessment of environmental and social risks is part of the environmental and social risk management system, and in order to ensure the full functioning of this system, it was necessary to organize work to monitor such types of risks in the active operations of the bank during the period/period of their validity.


Because of this, the bank has begun work on organizing monitoring of environmental and social risks of the bank's active operations. This will ensure the full and effective operation of the environmental and social risk management system.


In this regard, through the efforts of the Environmental and social risk management division, an online seminar (webinar) was held among employees involved in monitoring the active operations of the bank. The webinar was held on June 07, 2022 in the format of a constructive dialogue. As a result of the webinar, the format and schedule for monitoring environmental and social risks, as well as additional organizational issues, were agreed.



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