Case study: How Sber works with its clients and customers to encourage sustainable practices
Sber is present across all regions of the Russian Federation, providing services to over 3.2 million corporate clients and 108.5 million retail customers. It is a systemically significant institution within the Russian economy. The Sber Group encompasses subsidiary banks, as well as branches and representative offices located in other countries. Sber is a signatory of the Principles for Responsible Banking (PRB) and is, accordingly, working with its clients and customers to encourage sustainable practices and enable sustainable economic activities. Tweet This!
This case study is based on the 2023 Annual Report by Sber prepared in relation to its implementation of the PRB, that can be found at this link. Through all case studies we aim to demonstrate what ESG/ sustainability reporting done responsibly means. Essentially, it means: a) identifying a company’s most important impacts on the environment, economy and society, and b) measuring, managing and changing.
Which Principles for Responsible Banking have been addressed?
The Principles for Responsible Banking addressed in this case are:
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- Principle 3: Clients and Customers
- Principle 4: Stakeholders
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With this case study you will see:
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- How Sber proceeded with stakeholder identification and consultation, and
- How Sber worked with its clients and customers to encourage sustainable practices and enable sustainable economic activities
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Stakeholder identification and consultation
Please describe which stakeholders (or groups/ types of stakeholders) you have identified, consulted, engaged, collaborated or partnered with for the purpose of implementing the Principles and improving your bank’s impacts. This should include a high-level overview of how your bank has identified relevant stakeholders, what issues were addressed/results achieved and how they fed into the action planning process.
Sber’s stakeholder engagement principles are outlined in its Environmental, Social, Governance, and Sustainability Policy.
The bank’s approach to stakeholder engagement is grounded in the standards and recommendations of the Technical Committee on Sustainable Finance of the International Organization for Standardization ISO/TC 322 Sustainable Finance, the AA1000SES (AccountAbility Stakeholder Engagement Standard), and involves identifying stakeholder groups, establishing engagement channels, and designating personnel responsible for engagement.
In 2023, during the process of identifying material topics, Sber recognized 11 stakeholder groups, each with dedicated engagement channels. This strategy enables the bank to gather pertinent information about its impact on the economy, society, and the environment, allowing it to tailor its actions to meet societal expectations.
How did Sber work with its clients and customers to encourage sustainable practices and enable sustainable economic activities?
In its 2023 Annual Report Sber reports that it works with its clients and customers to encourage sustainable practices and enable sustainable economic activities as follows:
As a leader in driving systemic change for sustainable development, Sber actively contributes to shaping the national ESG agenda and expanding best practices in ESG management. Its efforts aim to enhance positive impacts on society, the economy, and the environment while minimizing negative effects. Drawing on its own experience and expertise, Sber collaborates closely with clients, business associations, financial institutions, and government authorities. The bank also participates in developing industry-specific and national approaches, methodologies, and strategies for responsible finance.
One of Sber’s key priorities is supporting its customers through their ESG transformation journey. This commitment fosters responsible finance practices within the country and helps reduce the negative impacts of the bank’s portfolio in areas of significant impact.
Sber’s approach to responsible finance is outlined in the 2023 Responsible Finance Policy of Sberbank PJSC. The bank’s endorsement of the Principles for Responsible Banking initiative was a prerequisite for implementing this policy. The Responsible Finance Policy is aligned with Sber’s ESG Policy, ESG Strategy, Lending Policy, and other internal documents, as well as with national and international industry standards, initiatives, recommendations, and applicable Russian legislation. Sber enacts this policy by offering ESG-related products and integrating environmental, social, and governance considerations alongside financial factors into its decision-making processes.
Additionally, Sber provides various educational programmes for customers, recognising the importance of specialized knowledge and skills for sustainable development and ESG transformation.
UN Principles for Responsible Banking: Accelerating a positive global transition for people and the planet
With over 300 signatory banks representing almost half of the global banking industry, the Principles for Responsible Banking are the world’s foremost sustainable banking framework. Through these Principles, the banking community takes action to align core strategies, decision-making, lending and investment with the UN Sustainable Development Goals and international agreements such as the Paris Climate Agreement.
FBRH Principles for Responsible Banking (PRB) Assurance:
First class PRB assurance services: The result of solid, hands-on ESG/ Sustainability experience
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- FBRH is a GRI Certified Training Partner (Global), ISEP Training Centre and a member of CPD.
- FBRH builds trust. Over 200 reviews from top professionals from around the world demonstrate our ability to build strong, trusting business relationships.
- FBRH possesses a unique skill set that combines ESG/sustainability certified training, experience in advisory services and report preparation, and ESG/sustainability report assurance.
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The combination of all the above empowers FBRH to provide first class Principles for Responsible Banking (PRB) assurance services.
References:
This case study is based on published information by Sber, located at the link below. For the sake of readability, we did not use brackets or ellipses. However, we made sure that the extra or missing words did not change the report’s meaning. If you would like to quote these written sources from the original please revert to the following link:
https://www.sberbank.com/common/img/uploaded/_new_site/com/gosa2024/sber-ar-2023-en.pdf
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