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08.07.2021

Center-invest Bank Takes Step Towards Becoming Carbon Neutral

Center-invest Bank has entered into an agreement with the company Solar Systems for the supply of electricity from the Staromarev Solar Power Plant (Block 3) in Stavropol krai. The purchase of 1271 MWh of energy will mean that in 2021, 25% of the energy used by the bank will be from renewable sources.

“Green” certificates are issued by renewable energy producers and confirm the level of renewable energy consumption. Center-invest Bank has for the first time purchased I-REC certificates (international renewable energy certificates) issued to Russian renewable energy producers by the Goal Number Seven association. The bank intends to use the certificates to confirm its future use of renewable energy.

Center-invest Bank adheres to ESG principles of sustainable development in all areas, including its own day-to-day operations. By using solar power, a low-carbon energy source, the bank is reducing its impact on the environment.  

Center-invest Bank is already using solar power, having installed solar panels on the roof of its Head Office in Rostov-on-Don. The panels have a capacity of 10kW. In the ten months from August 2020 to June 2021, the panels generated 9045 kWh of electricity, which is used to power the terminals in the bank’s 24/7 self-service zone. The daily energy saving generated by the solar panels is equivalent to the electricity used to operate the electronic queue system or three ATMs for a 24-hour period.

Responsibility for natural resources, caring about the environment and the health of future generations, and making SMEs more energy efficient are all an integral part of the bank’s ESG strategy. Every year Center-invest Bank contributes to environmental protection by financing its customers’ energy efficiency projects. Since 2005 we have invested over RUB19bn in 23,000 customer projects. These projects have reduced CO2 emissions by 225,000 tonnes a year. 

For responsible investors, Center-invest Bank launched a RUB550m green bond issue on the Moscow Exchange. It also introduced a green deposit account to allow customers to both receive interest on their money and also contribute towards the Sustainable Development Goals.