Zemen Bank Share Company
Climate Impact & Sustainability Data (2023-07 to 2024-06)
Reporting Period: 2023-07 to 2024-06
Environmental Metrics
ESG Focus Areas
- Environmental, Social, and Governance (ESG)
Social Achievements
- 5,295 employees received technical, soft skill, and leadership training; partnership with LinkedIn Learning provided access to training for 800 employees.
Governance Achievements
- Established a dedicated unit to handle ESG matters; developing ESG commitments and operationalizing ESG policies, guidelines, and programs; partnership with the European Investment Bank (EIB) for green financing technical support.
Climate Goals & Targets
Environmental Challenges
- Challenging economic landscape, escalating geopolitical tensions, significant domestic economic pressures, foreign exchange scarcity, galloping inflation, socio-political uncertainties, impacting investor confidence and consumer behaviors, credit cap policy restricting access to finance.
- Supply chain disruptions and geopolitical tensions, below-average world trade growth, acute foreign exchange shortage, Eurobond default, inflationary pressure, tight monetary and fiscal policy, external and domestic debt stress, prevailing internal conflicts.
Mitigation Strategies
- Focus on prudent risk management and operational efficiency; expansion of branch network, investment in IT infrastructure, enhanced digital capabilities, expanded service offerings; recalibrating strategies to align with economic realities, evolving interest in ESG, and increased regulatory activity.