YEREVAN, 23 July. /ARKA/. The renowned British financial magazine Euromoney has recognised Acba Bank as ‘Armenia’s best bank according to ESG (Environmental, Social and Governance) criteria’.
Euromoney has recognised Acba Bank as the best ESG bank in Armenia, taking into account the stable growth of its loan portfolio and the increase of its share in ESG, the implementation of relevant educational programmes in the bank and in the society, as well as the development of ESG policy in the bank’s strategy.
Taking into account the best international practices, Acba Bank has developed and will soon introduce its own procedures for issuing ‘green’ loans and will use them to define the criteria for ‘green’ loans and the mechanisms for calculating CO2 emissions.
Acba Bank has already developed the concept of green bonds, which allows the funds raised to be used only to finance green projects. In addition, Acba will issue a sustainability report, which will present the impact of the bank’s operations in the social, economic and environmental spheres.
Throughout its operations, Acba has paid significant attention to the development of effective management approaches and policies, and has continuously participated in and supported the development of the social and ecological environment in Armenia.
From the very beginning of its operations, Acba has also paid significant attention to the balanced development of the local communities: 44 out of 65 branches of the bank are located in the regions. About 50 per cent of the bank’s loan portfolio is also in the regions.
In addition, the bank has been and is actively involved in the implementation of many programmes aimed at sustainable development of Armenia.
Acba is one of the leading banks in financing green economy and energy efficient projects. Back in 2011, Acba, together with IFC (International Finance Corporation), developed and implemented a social and environmental risk management system in the bank, within the framework of which it continues to carry out effective financial activities, especially within the ESG criteria.
Acba Bank is the founder and 100% shareholder of the first leasing organisation in Armenia ‘Acba Leasing’ (the ‘green finance’ segment accounts for more than 40% of the bank’s leasing portfolio) and together with the leading asset manager in Europe, the French company Amundi, founded Amundi-Acba Asset Management in Armenia.
Acba Bank is present in all regions of Armenia and has 65 branches. The bank has about 5,600 shareholders.
The bank is controlled by the Central Bank of Armenia. -0-
