Green Centre Discusses ESG Challenges in the Banking Sector
Sofia, September 17 2024 – The Green Centre organized the third meeting in a series dedicated to the ESG challenges businesses face on the path to sustainability. The event focused on the issues and solutions banks are implementing to achieve carbon neutrality. Earlier this year, the Green Finance and Energy Centre organized two other meetings that focused on the challenges facing public and private companies.
17.09.2024
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The Green Centre for Sustainable Finance and Energy has launched a new initiative to support large businesses in Bulgaria through a series of strategic meetings called Green Talks. With this new format, the Green Centre aims to provide a platform for the exchange of best practices and a channel for finding solutions to common challenges, shaped by the experience of leading pioneer companies in sustainable business development.
„Green Talks has the ambition to give visibility to often unseen processes in business and the economy that have an undeniable contribution to our joint climb up the ladder of sustainability. The goal of the Green Centre is to support large companies in Bulgaria on their ESG growth journey by connecting them with leading experts in the field. I believe that introducing good sustainability practices in every industry is key, so that together we can stand before society and institutions with the knowledge and experience to be collectively recognized in the formulation and implementation of policies“, said Assoc. Prof. Dr. Manyu Moravenov, Chairman of the Green Centre.
The third meeting was attended by various business representatives and centre members, with presentations by UBB and UniCredit Bulbank.
Frank Jansen, nominated for the board of directors and CEO of UBB, welcomed the organization of such a platform for sharing experiences and best practices. He explained that green issues are a challenge for everyone. „I don't need to tell you that we have a problem; we need to figure out how to finance many aspects of business and the environment around us, which is quite dynamic and changing, making the task even more challenging“, Jansen added.
Kalina Kisova, General Manager of Product and Business Development for Corporate and SME Segment, and Kiril Yanchev, also part of UBB’s ESG team, presented some of the bank's key sustainability goals. They emphasized that the bank’s senior management is directly involved in decisions and concepts related to green transformation. At the local level, KBC Group organizes various training sessions for employee development and also hosts financial literacy events. They have developed a platform that acts as a financial advisor, offering customers specific savings advice and helping people become financially successful.
Among UBB's ambitious goals is a reduction in carbon emissions by 82% compared to 2015. One of the measures already taken in this direction is the full electrification of the company’s vehicle fleet.
„In the last 4-5 years, banks in Bulgaria have come a long way and made significant progress. This is reflected in their behavior and attitude towards customers. Our observations of the sector show that internal leadership alone is not enough, even if it is at an extremely high level within the management of a given bank. It is important for the entire team to be fully engaged, which leads to real change in corporate attitudes“, shared Assoc. Prof. Dr. Marina Stefanova, Director of the Master’s Program in Responsible and Sustainable Management at Sofia University.
UniCredit Bulbank also presented its high ESG goals. Biliana Mladenova-Mileva, ESG Strategy Manager at the bank, noted that by 2050, UniCredit Bulbank aims for its entire credit portfolio to be carbon neutral. By 2030 the bank will be carbon neutral as of now 75% of the electricity the company uses is coming from renewable energy sources. The bank’s newest initiative, Skills for Transition, was also presented. The program targets students and small and medium-sized enterprises, the program aims to provide free of charge indept knowledge related to the green transformation. The program will be accessible through dedicated digital platforms.
The main added value of Green Talks is the real-time specialized feedback provided by an expert panel composed of renowned names in academia, the non-governmental sector, and consultancy business in the country. Experts who are members of the Green Centre offered valuable guidance to each company regarding its progress in adhering to established sustainability standards.
„Green Talks has the ambition to give visibility to often unseen processes in business and the economy that have an undeniable contribution to our joint climb up the ladder of sustainability. The goal of the Green Centre is to support large companies in Bulgaria on their ESG growth journey by connecting them with leading experts in the field. I believe that introducing good sustainability practices in every industry is key, so that together we can stand before society and institutions with the knowledge and experience to be collectively recognized in the formulation and implementation of policies“, said Assoc. Prof. Dr. Manyu Moravenov, Chairman of the Green Centre.
The third meeting was attended by various business representatives and centre members, with presentations by UBB and UniCredit Bulbank.
Frank Jansen, nominated for the board of directors and CEO of UBB, welcomed the organization of such a platform for sharing experiences and best practices. He explained that green issues are a challenge for everyone. „I don't need to tell you that we have a problem; we need to figure out how to finance many aspects of business and the environment around us, which is quite dynamic and changing, making the task even more challenging“, Jansen added.
Kalina Kisova, General Manager of Product and Business Development for Corporate and SME Segment, and Kiril Yanchev, also part of UBB’s ESG team, presented some of the bank's key sustainability goals. They emphasized that the bank’s senior management is directly involved in decisions and concepts related to green transformation. At the local level, KBC Group organizes various training sessions for employee development and also hosts financial literacy events. They have developed a platform that acts as a financial advisor, offering customers specific savings advice and helping people become financially successful.
Among UBB's ambitious goals is a reduction in carbon emissions by 82% compared to 2015. One of the measures already taken in this direction is the full electrification of the company’s vehicle fleet.
„In the last 4-5 years, banks in Bulgaria have come a long way and made significant progress. This is reflected in their behavior and attitude towards customers. Our observations of the sector show that internal leadership alone is not enough, even if it is at an extremely high level within the management of a given bank. It is important for the entire team to be fully engaged, which leads to real change in corporate attitudes“, shared Assoc. Prof. Dr. Marina Stefanova, Director of the Master’s Program in Responsible and Sustainable Management at Sofia University.
UniCredit Bulbank also presented its high ESG goals. Biliana Mladenova-Mileva, ESG Strategy Manager at the bank, noted that by 2050, UniCredit Bulbank aims for its entire credit portfolio to be carbon neutral. By 2030 the bank will be carbon neutral as of now 75% of the electricity the company uses is coming from renewable energy sources. The bank’s newest initiative, Skills for Transition, was also presented. The program targets students and small and medium-sized enterprises, the program aims to provide free of charge indept knowledge related to the green transformation. The program will be accessible through dedicated digital platforms.
The main added value of Green Talks is the real-time specialized feedback provided by an expert panel composed of renowned names in academia, the non-governmental sector, and consultancy business in the country. Experts who are members of the Green Centre offered valuable guidance to each company regarding its progress in adhering to established sustainability standards.
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