The scope of our operations that involve a large range of stakeholders imposes a particular responsibility on the Bank for its performance and decision-making. To capture the community’s expectations, the Bank seeks to engage in a direct dialogue with representatives of key groups of stakeholders, including in preparing its non-financial reports. One of the Bank’s priorities implemented as part of stakeholder relations also includes promoting sustainability principles and best CSR practices across the Russian business community.
As the national financial development institution, we interact with a wide range of stakeholders both within and outside the country. By fostering mutually beneficial relations with Russian and international partners, Russian government authorities, including regional authorities, and the research and expert communities, we are setting the stage for achieving our strategic goals.
As part of its relations with public authorities, Vnesheconombank takes part in the discussion of state policy by getting involved in expert appraisal of draft laws and drafting of sectoral and regional development strategies. The Bank is actively cooperating with Russian regions by participating in the work of regional deliberative bodies and by supporting joint territorial development projects.
We maintain both bilateral relations with international financial organisations and development institutions, and participate in major groups, clubs and associations that operate worldwide.
A crucial task of the Bank in fostering its international relations consists in raising foreign finance and engaging expertise and experience in the Bank's projects and initiatives that support the social and economic growth of Russia.
Vnesheconombank regularly holds experience exchange events involving its partners both in and outside Russia particularly focusing on developing relations with banks from the SCO Interbank Consortium and with financial development institutions that are its partners within the BRICS Interbank Cooperation Mechanism. Our relations with major regional associations of development institutions from South-Eastern Asia and Latin America and UN entities are developing equally successfully.
Vnesheconombank initiated and actively participated in major international and national forums where it discussed the Bank’s prospects of relations with Russian and international partners and worked out coordinated positions on issues directly related to implementing by the Bank of its functions of the national development institution.
Striving for maximum transparency, we regularly update stakeholders on our performance through annual and non-financial reports, our corporate website and corporate media, as well as via our relations with mass media. We also operate a call centre to gather feedback from a wide range of stakeholders.
Performance by Vnesheconombank’s regional representative offices in Russia in 2014
As the national development institution, we place a particular emphasis on promoting sustainability principles and best corporate social responsibility practices across the Russian business community. Our efforts in this area are primarily applied in the scope of the Bank’s involvement in the UN Global Compact (UNGC): a major international initiative for sustainable development and global partnership between the public and corporate sectors.
Vnesheconombank joined the UNGC in late 2011 to reiterate its commitment to the ten principles of UNGC on human rights, labour relations, environment and anti-corruption. Since 2013, the Bank has been leading the UNGC Network Russia that seeks to combine the efforts of the Russian business community so as to put in place joint sustainability initiatives and reinforce international cooperation on a wide range of items on the global agenda.
In 2014, given a challenging international political, financial and economic situation, our top priority within the UNGC Network Russia was to promote a positive image of Russia as a country that is fully involved in achieving sustainability goals and committed to high socially responsible business standards. During the year, our representatives attended major events of UNGC, including the UN’s first World Conference on Indigenous Peoples held in New York (US) and the annual forum of UNGC’s European networks in Skopje (Republic of Macedonia). At these events, heads of UNGC’s international office and our foreign partners repeatedly highlighted that the UNGC Network Russia led by Vnesheconombank had substantially intensified its activity.
In 2014, Vnesheconombank spun out UNGC Network Russia into a standalone entity to ensure its institutional development. The statutes of the resulting standalone entity, UNGC National Network, were approved in late 2014 at the annual meeting of the Network’s members. The Bank also promoted the information policy of the Russian network, including developing the Network’s official website and publishing a leaflet with information on its activities. Moreover, in 2014, the UNGC International Office and Network Russia signed a memorandum of understanding that reiterated the status of the Russian network as an officially recognised organisation operating in line with the goals and objectives of the UNGC.