Annual Report 2014

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The principles of corporate social responsibility (CSR) have an increasingly important role
to play in economic development. Social, economic and environmental commitments undertaken by companies over and above mandatory requirements demonstrate their sustainable development and are being viewed, in many countries, as a strategic priority.

Vnesheconombank not only seeks to develop its own CSR system, but also actively engages in promoting the CSR principles in Russian business community and globally in the context of the UN Global Compact (UNGC).

UNGC is the world's biggest voluntary initiative for businesses that are committed to aligning their operations and strategies with ten universally accepted principles in the areas of human rights, labour, environment and anti-corruption. Today, the initiative embraces over 12,000 corporate participants from 145 countries.

Notably, at the Global Compact Local Regional Meeting Europe in Skopje, Macedonia and the Global Compact XII Annual Local Network Forum in Addis Ababa, Ethiopia, both held in 2014, foreign colleagues recognised the increased activity of the Russian network and its entering a whole new development level.

A highlight of 2014 was the first World Conference on Indigenous Peoples. The meeting was an opportunity to share perspectives and best practices on the realisation of the rights
of indigenous peoples, including pursuing the objectives of the United Nations Declaration on the Rights of Indigenous Peoples. The Conference concluded with resounding support
for the Outcome Document that articulated the tools to protect the rights of indigenous peoples and urged the business community and other stakeholders to respect the Guiding Principles on Business and Human Rights.

Admittedly, Vnesheconombank's efforts under the UNGC aegis help promote the Bank's positive image of a socially responsible institution committed to promoting the UNGC principles for the benefit of the global sustainable development.

In the year under report, Vnesheconombank was directly involved in the institutional development of the UNGC local network, i.e. establishing a separate legal entity that would bring together the members of the UN Global Compact Network Russia. This work resulted
in the statutes of the Global Compact Network Russia being ratified. To further promote the UN Global Compact Network Russia, a newsletter was prepared and distributed, the corporate visual identity was shaped and a web page developed.

In 2014, Vnesheconombank continued to introduce the concept of responsible financing
in the Bank’s lending and investment activities in compliance with the Responsible Financing Policies adopted in 2013. A number of internal documents were prepared to define
the objectives and principles of Vnesheconombank's activities in the area of social responsibility and green office practices. In particular, Vnesheconombank's corporate environmental policies were drafted and Regulation on VEB Group's Sustainability Report was approved.

The Youth Club acting under the auspices of Vnesheconombank held a master class
on Corporate Social Responsibility and Responsible Financing at Vnesheconombank. The event resulted in project teams organised to continue research and practical work
in the Corporate Social Responsibility workshop of Vnesheconombank's Youth Club.

In 2014, Vnesheconombank was awarded an honorary diploma for its valuable contribution to promoting sustainable development and responsible financing practices. The competition for the award was organised by the Association of Development Financing Institutions
of the Asia-Pacific Region (ADFIAP), the European Organisation for Sustainable Development (EOSD) and the World Federation of Development Financing Institutions (WFDFI). A project funded by Vnesheconombank and aimed at the construction and reconstruction of small hydroelectric power plants in the Republic of Karelia became a laureate of the competition.

The VEB Group's Sustainability Report 2013 was presented by the League of American Communications Professionals with the highest Platinum Award in the competition category Conglomerates, Holding Cos., Divers. Invest. of the 2013/14 Vision Awards Annual Report Competition, with the score of 99 out of a possible 100.

In 2014, Vnesheconombank's project Series of Annual Conferences on Investment
in Sustainable Development entered the top 30 best projects according to the Russia's Best Social Projects National Program in the category Corporate Projects.

Corporate Volunteering Initiatives

In the reporting year, Vnesheconombank continued to promote employee volunteering.
On a regular basis, the Bank extended aid to specialised children institutions, social institutions for the elderly, Russian Orthodox Church, and organised actions to help people
in hardships and victims of natural disasters.

More than 20 volunteering events were organised in 2014 to include:

  • aid for the start of a new school year to boarding schools for orphans and abandoned children in Moscow and Moscow Region, orphan asylums, and children
    from disadvantaged families; aid to homes for elderly people in Moscow, Pskov, Ryazan and Tula Regions;
  • initiatives to support the Russian Orthodox Church;
  • initiatives to support victims of the flood in Altai and Republika Srpska, humanitarian aid and supplies to Ukrainian refugees.

Furthermore, more than 300 volunteers took part in 3 blood donor initiatives undertaken
by Vnesheconombank.

A new line of volunteering that evoked an encouraging response from the Bank's employees was their assistance in finding foster families for children from orphan asylums in Amur, Kemerovo, Samara and Ryazan Regions, and Primorsky Krai.

The Bank's volunteers also joined the municipal initiative “Books in Parks”, as well
as donated goods for the BlagoBoutique charity shop and their own handmade souvenirs
for a charity bazaar in Sokolniki Park.