OTP BANK builds own system of environmental and social management
Combined “green” transformation in Ukraine attains special meaning and already influences business. “OTP BANK” JSC considers tendencies, and has already planned a series of measures within creation of own Environmental and Social Management System, said ESG manager of the Bank Maksym Olijnyk during opened dialog “Green” agenda for Ukraine: special part and unique challenges for banks”, with participation of representatives of NBU, EBRD, KSE and of a number of banking institutions.
“OTP BANK actively works in direction of support and development of “green” technologies and social responsibilities of Ukrainian business. Now we are creating our own Environmental and Social Management System, which will be harmonized with European Union and would help the Bank to create own “green” portfolio”, - said M.Olijnyk.
According to ESG manager, OTP BANK orientates on EU standards in sphere of “green” and sustainable technologies and practices, who are directed towards decreasing of risks and uncertainty, witch which investor encounters when financing such projects. “In question of sphere of “green” and sustainable technologies and practices, the Bank should not only comply with requirements of EU and Parent Bank, but also and strictly follow the rules, which are dictated by National Bank of Ukraine, because ESG becomes a necessity”, - he emphasized.
As Maksym Olijnyk underscored, combined “green” transformation opens access to the resources of global investors and modern European technologies, which in turn, would assist to the development of Ukrainian economy and increase amount of potential financial requests. OTP BANK considering this and wish to use potential possibilities, has crated ESG strategy, which foresees:
- creation and implementing of all components of Environmental and Social Management System (environmental and social policy, separate communication channel, building of institutional and personnel ability);
- creation of separate “green” products and building of own “green” portfolio, considering of clearly defined and verified product sustainability criteria (EU Taxonomy, Climate Bonds Taxonomy, Sustainable Finance Framework and Green Loan Framework of Parent Bank);
- inventory of the Bank's greenhouse gas emissions and development of measures to reduce the carbon footprint;
- improvement of the training program on ESG and sustainable development for all employees of the Bank, as well as other tasks in the field of environmental protection and social responsibility of the Bank.
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Public Joint Stock Company OTP Bank is a subsidiary of OTP Bank, which is the largest independent Central-Eastern-European banking group. JSC OTP Bank is one of the largest domestic banks, a recognized leader in the financial sector of Ukraine. The Bank provides a full range of financial services to corporate and private customers, as well as to small and medium enterprises. The bank entered the Ukrainian market in 1998, and since then it enjoys a staunch reputation of socially responsible, reliable and stable institution providing its consumers with services of European quality standard.
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