It was proposed to form Bashkiria’s ESG profile at Trans-Urals Investment Sabantuy

Members of the State Duma's expert council on sustainable development and green finance proposed to form an ESG profile for Bashkortostan. The meeting took place on June 3 in Sibay on the margins of the Trans-Urals Investment Sabantuy.

ESG (Environmental, Social, and Corporate Governance) is a set of characteristics of company management in which the company is involved in solving environmental, social, and management problems.

The discussion of topical issues of the ESG agenda implementation was led by Vladimir Senin, Chairman of the Subcommittee and Expert Council on Sustainable Development and Green Finance of the State Duma Committee on the Financial Market.

 “There are several regions in Russia where ESG passports of territories have already been developed in the context of their potential and issues solved with the help of ESG tools,” Marat Kashapov, manager of the National Bank's Branch for RB, representing the republic said. “Today, council members proposed to consider the possibility of developing such an ESG profile about our region. As an example, sectors such as agriculture, industry, and, in general, any modernization projects that reduce the carbon footprint were mentioned. By implementing ESG tools, we can achieve several effects. On the one hand, to attract additional sources of financing, on the other hand, to raise the image of our republic as one aimed at sustainable development and, of course, to achieve a real improvement in the environmental situation. All this together can be achieved if we create the necessary competencies. The task is not easy, it can only be solved through the joint efforts of authorities, development institutions, and enterprises. The current off-site meeting of the council makes it possible to accelerate this process.”