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· Sber is guided by the priority of creating long-term economic value for all stakeholders.
· Sber ensures respect for human rights, inclusivity, diversity, fair and equitable treatment of everyone.
· Sber takes care of the environment.
· Sber develops responsible financing practices and effectively
manages ESG risks.
· Sber is responsible for its impact, complies with all applicable laws and meets commitments.
· Sber follows ethical business approaches and introduces best corporate governance practices.
· Sber improves information openness and transparency.
The Policy sets out eight key action lines for Sber in ESG and sustainable development:
· minimize the environmental impact.
· develop climate-related risk and opportunity management
practices.
· create decent working conditions and ensure development of human potential.
· ensure respect for and protection of human rights, provide an inclusive environment and equal access to products and services.
· support local communities and assist social development.
· improve practices of corporate governance, safety and ESG risk
management, including along the supply chain.
· develop sustainable finance practices.
· facilitate economic well-being and prosperity for all.
The action lines specify 45 targets that Sber will address in the capacity of its four roles: as an organization, a fintech group, a systemically important institution of the Russian economy, and a participant in the international market and global initiatives.
8.1.8 Bank news
VTB’s net profit exceeded RUB85bn in 2Q21 vs. consensus estimates of c. RUB75bn due to the bank’s stronger core revenue and lower-than-expected cost of risk. Following this, VTB raised its FY21 net profit guidance to
91 RUSSIA Country Report August 2021 www.intellinews.com