National Credit Ratings has assigned an AAA rating to Sber, the highest ESG rating possible in terms of compliance with environmental, social, and governance standards. Sberbank is the first company in Russia that has received the highest rating possible.

The high evaluation of Sber's environmental efforts was driven by the high share of green assets in the bank's portfolio and the multi-level framework facilitating ESG risk assessment and control.

NCR commended Sber's initiatives and programs aimed at reducing its carbon footprint and improving resource efficiency and responsible waste management.

The bank maintains high standards of social protection of its employees and ensures significant investments in human capital. These are the reasons behind the high rating of the social component.

The agency praised Sber's consistent and high-quality implementation of sustainability projects: charitable, volunteer, inclusive and social initiatives in culture, education, healthcare and environmental protection.

The maximized governance rating reflects the maturity of the development and organization of Sber's corporate and risk management, including the effectiveness of mechanisms to ensure business continuity and strategic planning.

The highest rating was driven by the implementation and effective application of corporate ESG documents, including Sberbank’s Social, Environmental, Governance and Sustainability Policy, which systematizes approaches in these fields.

Tatiana Zavyalova, senior vice president for ESG, Sberbank:

Sber is the first Russian company that has been assigned the highest ESG rating by NCR. We received maximum scores in all three aspects: environmental, social and governance. The bank’s high score draws on its support for sustainable development of Russian regions, the issuance of its green bonds and a high share of ESG loans, green and adaptation loans, social loans, and more. I would like to note that Sber’s portfolio of responsible financing continues to grow — in 3Q23 it reached a record of RUB 2 tn, which confirms the relevance of the green agenda and the importance of ESG principles for our clients and partners.

The ESG rating methodology.

National Credit Ratings is one of the accredited rating agencies of the Bank of Russia. NCR ratings are being used by the Bank of Russia, Moscow Exchange, St. Petersburg Exchange, NSD, and other agencies. VEB.RF included NCR in the list of green financial instruments' verifiers in 2022.