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02.04.2021

“Green” Deposit Account for ESG Investments

Over 2,000 people in southern Russia have become responsible investors by opening a “Green” deposit account with Center-invest Bank. The total deposited to date is RUB1.2bn. This unique deposit account was developed in line with ESG banking principles and as part of the bank’s Strategy “The ESG Digitalisation of Center-invest Bank’s Ecosystem”.

The bank introduced this new environmentally friendly account, the only one of its kind in Russia, in March 2020. All of the funds deposited in these accounts are to be used for projects that contribute towards the UN Sustainable Development Goals and Russia’s National Projects.

In the last year, 2293 customers have opened a “Green” deposit account, with funds totalling RUB1.2bn. This funding has been used for the energy-efficiency transformation of SMEs in southern Russia, and for a programme for the energy efficient renovation of apartment buildings in the regions where the bank operates.

The product is a ruble deposit account with a term of 17 months, just as there are 17 UN Sustainable Development Goals. The minimum deposit is RUB100,000. The deposit provides a 4.1% annual return. This is a competitive rate, while the product also has social and environmental dimensions.

The green deposit account is part of Center-invest Bank’s commitment to investing in the impact economy. As at 01.04.2021 the bank had invested RUB217.4bn in implementation of the UN Sustainable Development Goals and Russia’s National Projects.