28th of October 2019
Credit Bank of Moscow has become first Russian bank which received an ESG rating.
Rating-Agentur Expert RA GmbH has assigned a BBB ESG rating to Credit Bank of Moscow (CBM). This is the first ESG rating assigned to a Russian bank. The ESG rating assesses the environmental, social and governance aspects of corporate social responsibility. CBM's ratings for each of them are as follows: BB [e] environmental rating, BB [s] social rating and A [g] governance rating. The consolidated rating grade means that CBM's management of ESG-related risks and opportunities is of a moderately high level. The Bank has a strong Social and Environmental Management Policy against controversial financing and confirms the increasing importance of corporate social responsibility (CSR) in the business decision-making process. At the same time, effectiveness of the newly implemented policies and regulations still needs further confirmation and will be closely monitored.