The EDB convenes the first meeting of its Sustainability Committee
Almaty, 27 July 2023. Nikolai Podguzov, Chairman of the Eurasian Development Bank’s (EDB) Management Board, led the inaugural meeting of the EDB Sustainability Committee. The Committee comprises members of the Management Board and heads of the Bank’s divisions involved in managing all aspects of sustainable development, from project activities and funding to risk and HR management.
The new committee aims to exercise effective control over the implementation of strategic sustainable development objectives at the highest corporate governance level. Its key objectives include engaging key internal stakeholders in cross-functional initiatives and establishing a cohesive ESG management approach. In particular, it reviews the Bank’s Sustainability Strategy and annual ESG Action Plan, considers green and social finance projects, evaluates the member states’ contribution to the United Nations’ Sustainable Development Goals, helps enhance the EDB’s position in ESG ratings, and handles other relevant matters.
“Following the ESG principles has become the Bank’s strategic decision and corporate philosophy, impacting our long-term goals. Our ability to implement sustainability considerations in our operations consistently, systematically, and intelligently is essential for our future competitiveness. I expect the сommittee to engage the Bank’s relevant divisions in the agenda and assign them pivotal roles in integrating ESG into our daily work,” said Nikolai Podguzov, who chairs the committee.
The committee has reviewed the main provisions of the Bank’s Sustainability Strategy, the draft EDB Sustainability Principles, and certain cross-functional tasks.
“I am pleased to highlight this significant milestone on our journey towards deeper integration of ESG aspects into all business processes and enhancing our sustainability governance framework. The establishment of this committee reaffirms the unequivocal priority of the ESG agenda for the Bank’s mission and mandate and its intention to consider the expectations of both external and internal stakeholders and to work together, with due responsibility and awareness, to address strategic cross-functional objectives. It is very important to me and the Directorate of Sustainability that we can receive active support from all the Bank’s divisions, involve them, through the committee, in fruitful discussions on the ESG agenda, and make sure that the Bank is committed to sustainable development values,” added Conrad Albrecht, Managing Director, Head of the Directorate of Sustainability and Deputy Chairman of the Sustainability Committee.
Additional Information:
The Eurasian Development Bank (EDB) is an international financial institution investing in Eurasia. For more than 17 years, the Bank has worked to strengthen and expand economic ties and foster comprehensive development in its member countries. The Bank’s charter capital totals US $7 billion. The EDB’s portfolio mainly consists of projects with an integration effect in transport infrastructure, digitalisation, green energy, agriculture, industry, and machinery. Its operations are guided by the UN Sustainable Development Goals and ESG principles.
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