Annual Report 2013

Developing and Putting in Place the Bank’s CSR System

In the modern world we are witnessing an ever-increasing social role and responsibility of business. Obviously, observance of the CSR principles tangibly contributes to social and economic sustainability of our society due, among other things, to responsible attitude to company impacts on environment and increased transparency.

Vnesheconombank not only seeks to develop its own CSR system, but also actively engages in promoting the CSR principles in Russian business community.

In autumn 2013, a press conference “The Hour of Russia. Investment of Russian Business in Sustainability” was arranged on Vnesheconombank’s initiative at the Russian Federation Permanent Mission to the UN in New York. Reinforced positions of the Russian business on the international arena, achievements of UNGC Network Russia in the area of corporate social responsibility and sustainable development, cooperation between public authorities and business were the major discussion themes at the conference.

Admittedly, Vnesheconombank’s accession in 2013 to the UN Environment Program Finance Initiative (hereinafter - UNEP FI) became a keynote event of the year. Remarkably, Vnesheconombank was the first Russian company acceding to the UNEP FI.

In the reporting period, Vnesheconombank in partnership with IFC arranged the 4th International Conference “Investment in Sustainable Development. New Conditions for Business Innovation Potential”. Representatives of the public authorities, CEOs of Russian and foreign companies, representatives of the scientific and technical community and experts on the CSR and sustainability issues from 9 foreign countries attended the conference.

In 2013, Vnesheconombank continued committed efforts to drive the development of the concept of responsible financing forward and embed the principles in the Bank’s lending and investment activities. A number of internal documents defining the major goals and principles guiding Vnesheconombank in the field of environmental and social responsibility were developed.

Volunteering Projects

The past year featured the continuation of Vnesheconombank’s relentless efforts to focus on volunteering projects and initiatives. Management recognizes that can be viewed as the Bank’s dedicated commitment to the CSR principles. On a regular basis, the Bank supports children’s specialized institutions and social institutions for elderly people, the Russian orthodox church, as well as helps people in hardships.

Actually, the year 2013 saw the launch of 19 volunteer campaigns held with active engagement of the VEB staff. These included:

  • Financial aid to the Boarding Schools of the Moscow Region for Orphans and Children, the elderly who are in need of special care nursing in the hospital in the village of Ostashevo, Volokolamsk District;
  • 3 “the Day of Donor” campaigns with voluntary engagement of 250 volunteers;
  • The Easter Day campaign to provide aid to Krestovozdvizhenskiy Ierusalimsky stavropegial female monastery;
  • 3 “Hold out a Helping Hand” campaigns to collect funds for those in need of expensive medical treatment.

In 2013, in order to promote volunteering initiatives and practices and embed the principles of non-financial reporting within the VEB Group, a training seminar entitled “Promoting the CSR Principles in the VEB Group: Joint Actions and Reporting” was held.