At the close of 2023, Sber completed a full three-year cycle of its inaugural ESG program, marking a turning point in how the bank integrates sustainability into its core operations. Tatyana Zavyalova, Sberbank’s ESG Senior Vice President, outlined to reporters the institution’s broader ambitions in sustainable development and the evolution of its responsible finance framework. Her remarks underscored a proactive approach to aligning credit practices with environmental, social, and governance considerations, signaling a shift toward long-term value creation that benefits customers, employees, and stakeholders alike.
Looking ahead, Zavyalova stated that the responsible credit portfolio is projected to reach 3.1 trillion rubles by the end of 2024 and approximately 3.4 trillion rubles along the 2026 horizon. These figures reflect strategic growth in financing that incorporates ESG criteria, as well as an emphasis on risk assessment, transparency, and long-term resilience across lending activities. The projections align with a broader trend in the market where financial institutions increasingly tie lending to measurable sustainability outcomes, while continuing to serve diverse client segments.
According to results from 2023 studies, there was a notable uptick in new sustainable loan issuances. The issuer volume grew more than threefold to 1.26 trillion rubles, a signifier that client demand for ESG-aligned financing is expanding rapidly. Zavyalova highlighted that the portfolio growth dynamics surpassed internal forecasts, illustrating the bank’s ability to execute its ESG agenda more effectively than anticipated and signaling strong momentum behind sustainable finance initiatives.
During the three-year implementation window, Sber established what it now regards as a distinct line of business: responsible financing. This expansion includes the provision of ESG-products and services tailored to corporate clients. The emphasis on responsible financing marks a deliberate shift from conventional lending to a more holistic service model that integrates sustainability guidance, climate risk mitigation, and socially responsible investment considerations into standard banking offerings. This evolution reflects a strategic prioritization of ESG as a core competency within corporate banking.
In 2023, Sber broadened its ESG product portfolio to serve multiple business segments. The bank now offers more than twenty ESG-focused products, spanning debt-free advisory services, risk assessments, green financing solutions, and policy development in sustainability. Revenue from non-credit ESG solutions for businesses is projected to rise roughly 3.5 times, reaching about 1.6 billion rubles for the year. This growth underscores the bank’s ability to monetize ESG capabilities while helping clients integrate sustainable practices into their operations and supply chains. The expansion demonstrates how ESG services have become a practical driver of revenue alongside traditional financial offerings.
Sber’s responsible financing portfolio encompasses a range of contracts and instruments, including ESG- and green-linked facilities, adaptation loans, and social loans. Non-credit ESG offerings include services such as ESG risk assessment, green factoring, and support for the development of sustainability policies and strategic roadmaps. Additional services cover environmental insurance, the provision of corporate wellness and healthcare programs, and other initiatives aimed at reducing environmental impact while fostering resilient business practices. The integrated approach positions Sber as a facilitator of sustainable growth for clients across sectors, reflecting a broader commitment to responsible enterprise in the financial services sector. Source: Sberbank ESG report.