During the Twenty-Fourth St. Petersburg International Economic Forum, Acron Group, one of the world’s leading vertically integrated mineral fertiliser producers, and Gazprombank signed a cooperation agreement on investments under Environmental, Social and Corporate Governance (ESG) Standards.
The agreement provides Acron Group with the opportunity to obtain financing on favourable terms with state support for ESG investment projects to reduce greenhouse gas emissions and other pollutants. The agreement also includes the issuance of social bonds with a green label and an exchange of best practices on preparing the required reporting.
Chairman of Acron’s Board of Directors Alexander Popov said, ‘By investing in environmental, social, and corporate governance projects, we ensure the Group’s fundamental sustainability and profitability. We appreciate that Gazprombank supports our aspirations and stands ready to help us implement the strategy we outlined’.
Deputy Chairman of Gazprombank’s Management Board Aleksey Belous stated that supporting mineral fertiliser projects is one of the most promising areas for Gazprombank’s project financing efforts. ‘Together with our partners from Acron Group, we understand that the ESG financing market is just taking off, and to some degree, we are pioneers. However, complying with ESG standards gradually ceases to be only an element of corporate image, so I am confident that including this component in new projects is the key to the future’, Belous said.