Sber improves its scores in leading ESG ratings dramatically

Dec 13, 2021

Over the past year, Sber has made remarkable progress in the main international ESG ratings: S&P Global CSA, CDP, and Sustainalytics.

S&P Global CSA

Sber’s S&P Global CSA (Corporate Sustainability Assessment) is up from 41 to 53, which is the highest figure among all Russian banks with a CSA rating. The improvement is due to the disclosure of Sber’s climate strategy and the identification of its key lines of work in terms of the ESG agenda. Furthermore, CSA recognized Sber’s initiatives on human capital development, risk management, and information security.

On top of that, Sber has recently been assigned an ESG (ESG Evaluation) rating by S&P Global Ratings.

CDP Climate Change

Sber’s CDP (Carbon Disclosure Project) rating is up from F to D. CDP assesses a company’s maturity in climate change management. This includes the assessment of greenhouse gas emissions, climate risk, and climate strategy. Sber is currently the only Russian bank with a CDP rating, which is in line with the high importance that climate management has for Sber operations.

Sustainalytics ESG Risk Rating

Sustainalytics has noted an improvement in Sber’s ESG risk management quality for the second time this year, having upgraded the 2021 ESG Risk Rating by an aggregate of 2.5 points to 21.5. As a result, Sber has the lowest rate of unmanaged ESG risk among Russian banks.

Alexander Vedyakhin, first deputy chairman of the Executive Board, Sberbank:

“Our ESG agenda has reached a landmark in the outgoing year – we have taken several breakthrough steps that have significantly strengthened our ESG efforts and rated high by international rating agencies.

We have approved our ESG Policy, identified our main focus areas, developed a climate strategy and designed an action plan, started active work to improve the sustainable development management system, took a systemic approach to collect data and develop the ESG methodology inside Sber.

All these factors have played a key role and enabled Sber to take a leading position among Russian banks in ESG ratings. The results indicate obvious progress both on the part of Sber and the development of the ESG agenda in Russia in general. However, this is just the beginning of a long journey that all companies in the Russian market will have to go through in the coming years. We are ready to offer our clients and partners comprehensive assistance with this ESG transition.”