ERG reveals plans for co-op with Sberbank to implement ESG principles

Kazakhstan Materials 6 October 2021 17:40 (UTC +04:00)
ERG reveals plans for co-op with Sberbank to implement ESG principles

BAKU, Azerbaijan, Oct.6


Russia’s Sberbank and Eurasian Resources Group (ERG) have pledged to conclude a cooperation agreement to implement ESG (Environmental, Social, and Corporate Governance) principles by the end of 2021, the ERG told Trend.

In June 2021, Sberbank and the ERG signed a memorandum of intent on cooperation for the implementation of ESG principles, which also includes the development of tools for green financing.

The document was signed by Andrey Shemetov, Senior Vice President, Head of SberCIB, and Benedikt Sobotka, Chief Executive Officer of Eurasian Resources Group.

"The memorandum was signed between Sberbank and members of the consortium, which included the BTSD company. The BTSD’s venture capitalist is ERG. According to the terms of the signed document, by the end of 2021, the relationship and further steps between the participants must be documented,'' ERG said.

Eurasian Resources Group (ERG) is one of the world's leading and most diversified companies in the extraction and processing of natural resources, with fully integrated energy, transportation, and marketing operations.

The group is represented in 15 countries of the world on four continents and is one of the largest employers in the industry.