Severstal & Sberbank Join Hands for Green Steel
Russian steel maker Severstal and Sberbank signed a cooperation agreement at the 24th St Petersburg International Economic Forum, under which they will work together to achieve sustainable development goals. The bank will provide information and consulting assistance to Severstal for the implementation of the ESG strategy, which includes environmental protection, social responsibility and corporate governance. Sberbank has accumulated significant experience in this area and is ready to provide its partner with specialized “green” products and services, including funding, “green” leasing, ESG lending, etc.
Severstal, in turn, intends to notify the bank of any potential financial transaction on environmental and climate issues and give the bank the right to prepare a competitive proposal for joint cooperation under this transaction.