PJSC Sberbank : Sber adopts Climate Strategy 2023

The Supervisory Board of Sberbank has adopted the company's Climate Strategy 2023. The document outlines Sber's current climate agenda, sets goals and steps their attainment requires.

One of the key goals enshrined in the Climate Strategy is that Sber commits to cutting its greenhouse gas emissions by 2023. Compared to 2019, Scope 1 emissions (direct emissions from owned or controlled stationary or mobile combustion sources) are set to go down 5% to 127,000 metric tons of СО₂ equivalent and Scope 2 emissions (indirect GHG emissions associated with the purchase of electricity, steam, heat, or cooling) should be reduced by 15% to 384,000 СО₂-e. Furthermore, Sber is set to reach full carbon neutrality with respect to these two scopes by 2030.

The following measures should facilitate the cutting of GHG emissions: reconstruction and improvement of the efficiency of thermal and boiler houses, transition to corporate vehicles with hybrid and electric motors, installation of energy-efficient lightning, certification of Sber buildings for compliance with green standards, purchase of green energy, etc.

Sber's climate strategy also covers efforts on calculating the carbon footprint of the portfolio (part of Scope 3) and reducing it. The company expects to achieve this by supporting the low-carbon transformation of clients by financing climate projects, developing non-financial ecosystem services, partnering with clients, etc. By the end of 2023, Sber is going to build the volume of responsible financing (green and ESG loans) up to RUB 500 bn.

Tatiana Zavyalova, senior vice president, Sberbank:

"Sber adopted its ESG policy in 2021, outlining the key lines of work and climate goals. The adoption of the Climate Strategy is a step crucial to the implementation of the ESG Policy while being an integral part of the bank's strategy. Our vital and extremely challenging goal is to go climate neutral in operations by 2030."