Thursday, March 7 2024 12:38

ArmInfo. Araratbank has adopted a policy consistent with the principles of sustainable development,  because without compliance with ESG (Environmental, Social, Governance) aspects, our well-being and future are impossible, Raisa Babayan, Environmental and Social Risks Officer, stated at a panel discussion on the topic "Leadership in business beyond legal requirements", within the framework of the annual conference ROBUST  ARMENIA-2024.

In addition to providing an ESG report to international partner  organizations, the Bank is taking steps to assess and manage climate  change risks. In particular, according to her, at this stage a  special strategy is being developed that will make it possible to  have data on the impact of the climate activities of Araratbank  borrowers on the environment, including greenhouse gas emissions.  "This will become the basis that will allow us to prove that in our  work we are guided by and meet ESG requirements," she noted. In  particular, as Babayan further noted, the Bank is aimed at managing  and mitigating the impact of its clients' activities.  In particular,  she said that a potential loan is assessed taking into account ESG  aspects, the Bank proposes measures to mitigate the impact on the  environment and social sphere, and monitors it. "But before  monitoring and proposing mitigation measures, we consult with the  borrower and train so that he understands the importance of ESG  principles and follows these requirements," she emphasized.

The environmentalist also emphasized that Araratbank's credit  products within the framework of green financing are in demand,  including the sale of electric vehicles, the construction of  energy-efficient buildings, etc. "All this can contribute to the  management and mitigation of risks associated with climate change,"  she said.

Within the framework of the ROBUST ARMENIA-2024 conference, of which  Araratbank is a partner, a panel discussion was also held on the  topic: "Sustainable development in an unstable environment." The  keynote speaker of the conference was the founder and director of Do  Something! Jon Dee. In his speech, he draw the participants' special  attention to the possibilities of ensuring Armenia's energy security,  taking into account existing geopolitical and security risks.