Sovcombank is the first Russian bank to support the recommendations of the Task Force on Climate-related Financial Disclosures (TCFD) and of the Working Group on Climate-Related Financial Disclosures). The Bank is committed to applying the Working Group’s recommendations to make its ESG reporting even more transparent.

The Bank adheres to international standards in preparing its sustainability report, including the Global Reporting Initiative, the United Nations (UN) Global Compact, as well as the UN Environment Programme Finance Initiative Principles for Responsible Banking – and now the TCFD.

Background information:

PJSC Sovcombank is a universal bank and one of the 10 largest banks in the country (with assets of RUB 1.9 trillion according to IFRS). The Bank employs 24,500 people in 2,942 offices located in 1,037 communities in 77 regions of Russia. The Bank serves 11.9 million customers, including 11.1 million borrowers, 600,000 depositors and 200,000 legal entities. Sovcombank has been assigned the following ratings from international agencies: a BB rating with a positive outlook from Standard & Poor’s, a Ba1 rating with a stable outlook from Moody’s and a BB+ rating with a stable outlook from Fitch Ratings. Its credit ratings from Russian agencies include an AA- rating with a stable outlook from ACRA, an ruАА rating with a stable outlook from Expert RA and an AA- rating with a stable outlook from National Credit Ratings Agency.