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On March 20, 2024, COMINBANK JSC decided to introduce an environmental and social management system in the Bank for projects and programs within the framework of cooperation with the Entrepreneurship Development Fund financed by the World Bank, KFW Group (German Development Bank) and other international financial organizations .
This decision is due to the importance of business support in Ukraine and the requirements of the modern world - to step in balance with the economic, ecological and social interests of society, as well as to meet the conditions of all processes within the framework of cooperation with the Entrepreneurship Development Fund without creating risks.
The goal of the project is to form a holistic vision of the key principles of sustainable financing development, as well as to analyze the Bank's compliance with ESG requirements, the implementation of basic management tools in accordance with ESG standards to maintain the Bank's sustainable development and its compliance with standards.
In 2023, the Bank made a decision to integrate ESG principles into its activities. The main goal of ESG banking is to support projects and enterprises that have a positive impact on society and the environment. This can include investments in renewable energy sources, green infrastructure, energy-efficient farming, careful treatment of land resources, etc. This activity is new for the bank and is at the stage of formation in accordance with the Sustainable Financing Policy presented by the NBU in 2021.
In 2023, by financing and serving large and small companies, entrepreneurs and private individuals, COMINBANK JSC made a daily contribution to the development of the economy of Ukraine and will continue to do so in 2024. As a reliable financial partner, the Bank helps clients implement projects that shape and improve their lives. At the same time, the Bank adheres to the investment policy of responsible social financing, business ethics, supports diversity and inclusiveness, involves a team and partners who share the values of sustainable development in socially important projects.
Today, an important mission of the Bank is to ensure the stability of reliability, confidence and mutual trust in relations with clients, which is achieved thanks to a balanced conservative financial policy. At the same time, attention is paid to lending innovative projects for the creation of new production facilities in Ukraine using high technologies and modern scientific developments.
The bank is guided by the rule that financial institutions that invest in production and support innovative technologies are the most sustainable in the long term. The introduction of innovations and sustainable development is what allows the Bank to meet the needs of the market, offer clients new technological solutions and integrate into the changes of the modern world.
Therefore, corporate social responsibility, business ethics, support for diversity, integration of human rights — all this is a key task in the long-term perspective and long-term sustainability of the Bank.
In order to achieve the required level of interaction, the Bank must:
- to collectively develop its culture of "positive influence", diversity and integration, as well as dialogue with society,
- more thoroughly implement social and environmental responsibility in its operational processes and in the main projects,
- to create new solutions and partnerships, which will allow to support customers and have a positive impact on the environment,
- establish specific "areas of engagement" for each major division and include them in the main objectives for overall corporate responsibility.
- more thoroughly implement social and environmental responsibility in its operational processes and in the main projects,
- to create new solutions and partnerships, which will allow to support customers and have a positive impact on the environment,
- establish specific "areas of engagement" for each major division and include them in the main objectives for overall corporate responsibility.
Simultaneously with the search for opportunities for positive changes in all spheres of engagement, the Bank will promote the development of those aspects of activity that it can significantly influence. The Bank will achieve this through partnership coordination, its responsible actions as an employer, procurement policy, community support, philanthropy, staff volunteer initiatives and entrepreneurial initiatives.
