AraratBank: Partner of Annual Conference on Sustainable Development and ESG: Global Agenda, Local Needs

On March 6, Mediamax Media Company and Skill Marketing Company held the first Robust Armenia conference on Sustainable Development and ESG: Global Agenda, Local Needs.

AraratBank, a partner of the conference, was one of the participants in the panel discussion.  

According to Environmental and Social Risks Officer of AraratBank Raisa Babayan, the Bank intends to develop and implement an ESG strategy that includes environmental (climate), social and corporate governance as three key factors for assessing the Bank's impact on sustainability and environment, society and internal governance structure.

AraratBank started investing in greener Armenia in 2012, being one of the first financial institutions to sign an agreement with Green for Growth Fund (GGF) on financing energy efficiency projects. Over 12 years, AraratBank has enhanced its services and has prepared a skilled staff. An important component of the agreement was the provision of technical assistance that allowed for the implementation of green finance instruments and training of green loan specialists.

Zaruhi Melkonyan, Head of International Operations Department at AraratBank, said: "The conference is an important platform particularly from the perspective of exchanging experience. Besides, the Bank, as a key link in the national economy, must have its say in shaping green Armenia."

Recently, the Bank has implemented an important project with a focus on sustainable development, financing the purchase of around 100 electric cars, which are currently deployed as taxis.

"This will contribute to reducing the levels of harmful emissions into the environment," noted Vahan Gharibyan, Deputy Head of Corporate Business Lending Department at AraratBank.

The keynote speaker of the conference John Dee, who is a high-profile expert in the field of sustainable development, said: "When you reduce your use of electricity, you make your business more profitable and more resilient and you have less impact on the environment.”

Robust Armenia has been established as an annual conference to serve as a platform for discussion of Armenia’s sustainable development issues by representatives of the private sector.