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Sustainability Report 2013


Stakeholder Engagement

We view stakeholder engagement as a critical sustainability prerequisite and a key factor in building the corporate social responsibility system. While realising the extent to which the Bank impacts a broad range of stakeholders and its responsibility towards them, we focus on stakeholders’ expectations and seek to give them due regard when determining the priority areas in pursuing corporate social responsibility and relevant implementation mechanisms.

System of relations with stakeholders

We have been consistently developing a system of relations with stakeholders to set up a favourable external and internal environment and achieve its strategic objectives. The key mechanisms used by Vnesheconombank to build its stakeholder engagement system include:

  • identifying the key groups of stakeholders; analysing and ranking the groups by relevance for Vnesheconombank;
  • formulating Vnesheconombank’s voluntary commitments towards its stakeholders;
  • identifying the key forms of stakeholder engagement;
  • organising and holding public dialogues (roundtables, conferences, public hearings, etc.) involving stakeholders to discuss Vnesheconombank’s voluntary commitments and engage the stakeholders in identifying the ways for Vnesheconombank to promote its corporate social responsibility;
  • collecting and systemising information from stakeholders on their perception, expectations, comments and suggestions on sustainability initiatives that are planned by Vnesheconombank or are already underway;
  • considering stakeholder opinions when formulating plans for Vnesheconombank’s sustainability activities;
  • aligning the positions and interests of different groups of stakeholders.
The map of Vnesheconombank’s stakeholders is based on the questionnaires filled in by Vnesheconombank’s independent structural units within the framework of preparing Vnesheconombank Group Sustainability Report 2012.Map of Vnesheconombank’s stakeholders

Key instruments of Vnesheconombank's stakeholder engagement

In its relations with stakeholders, Vnesheconombank recurs to various instruments that seek both to raise the public awareness about Vnesheconombank’s operations, and build a dialogue with specific groups of stakeholders.

Involvement in the activities of committees, commissions, and working groups set up by federal public authorities

The government fully uses Vnesheconombank’s expert capabilities in building its policies, including expert appraisal of draft laws and building sectoral and regional development strategies to the extent covering Vnesheconombank’s priorities.

Involvement in the activities of public authorities of constituent entities of the Russian Federation and local authorities

Employees of Vnesheconombank and its representative offices in the Russian Federation take part in the work of investment committees, investment boards and other deliberative agencies of regional authorities on a regular basis, thus helping to promptly coordinate joint support to the most important initiatives that require investments by Vnesheconombank and the Group’s entities. To intensify the relations and accelerate the decision making process, Vnesheconombank holds extended working meetings in the form of video conferences involving representatives of executive authorities of constituent entities of the Russian Federation and initiators of investment projects.

Domestic and international events initiated by and involving Vnesheconombank

Vnesheconombank initiates and participates in the organisation of international and domestic forums that meet to work out harmonised positions on further development of relations aligned with the objectives of the sustainable social and economic development of Russia.

Participation in international forums

Vnesheconombank’s management bodies regularly participate in highest-level international forums that discuss potential long-term relations between Russian and international public and financial institutions. The arrangements reached at such events underlie the agreements that seek to achieve Vnesheconombank’s strategic objectives and attract foreign investment to Russia.

Media relations

To inform a wider range of stakeholders on Vnesheconombank’s operations, the Bank’s press service consistently holds press conferences and briefings involving the Bank’s management and leading Russian and foreign mass media. The relations with regional media are maintained via Vnesheconombank’s representative offices in Russia. In 2013, Vnesheconombank’s activities were extensively covered in the Development Projects programme on Russia-24 TV channel.

Corporate web-site

The corporate web-site is a key tool used by the Bank to raise awareness of a wider stakeholder universe about the Bank’s operating highlights, and a source of information targeting the Bank’s potential borrowers, including investment application forms, guidelines on how to prepare business plans, financial models, etc.

Publication of annual and non-financial reports

The key financials of Vnesheconombank and the Group’s sustainability performance data are disclosed in annual and non-financial reports that are published on Vnesheconombank’s official web-site in Russian and in English.

The phone number of Vnesheconombank’s Call Centre is (495) 721-18-63.Call Centre

The Call Centre is a permanent feedback channel targeting a wide range of the Bank’s stakeholders. The analysis of calls serves to prepare an annual research report that is used to raise the quality of stakeholder engagement.

Intranet portal

Vnesheconombank’s Intranet portal is the key channel used to inform its employees of the key events in the corporate life of the Bank and for feedback between employees and the management. The portal publishes the Bank’s news on a regular basis and runs employee surveys. In 2013, the portal launched a new feedback option (which can be used by employees to put their questions to the top management) and a FAQ section.

Stakeholder engagement in non-financial reporting

In 2013, Vnesheconombank developed a draft Stakeholder Engagement Policy aiming to further develop the Bank’s non-financial reporting system in line with the best practices of international financial institutions and the requirements of the international stakeholder engagement standard AA1000. The Policy governs the stakeholder engagement procedures related to non-financial reporting.

The hearings on the draft Vnesheconombank Group Sustainability Report 2013 became the first step in implementing the Policy. The hearings involved representatives of Vnesheconombank’s subsidiary organisations and structural units. Vnesheconombank is planning to engage a wider range of stakeholders in the preparation of non-financial reporting going forward.

On 27 June 2014, Vnesheconombank held debates on the draft Vnesheconombank Group Sustainability Report 2013

The hearings involved 22 representatives of Vnesheconombank’s structural units, 11 representatives of Vnesheconombank Group’s entities, and representatives of auditors, advisors and independent expert organisations.

The participants were addressed by Sergey Noskov, Director of Vnesheconombank’s Administrative Directorate. In his welcome speech, he focused on potential improvements to Group’s non-financial reporting quality, including building of a system for stakeholder engagement in preparing non-financial reporting. The participants were also presented a report on key milestones and further plans to develop the non-financial reporting system of Vnesheconombank Group.

The discussion of the draft report covered the following highlights:

  • the need for more detailed disclosure in subsequent non-financial reports of Vnesheconombank Group on the impact of the Bank’s investment projects on the environmental component of sustainability, including the results of environmental stewardship and energy efficiency projects;
  • the potential publication of the report in different formats, including the short and interactive versions of the report and the need to reduce the report’s text content and enlarge the scope of infographics;
  • the need to more actively distribute the printed version of the non-financial report by Vnesheconombank’s structural units and the Group’s entities, including within the framework of official events and cooperation with partner organisations;
  • the opportunity to engage a wider stakeholder audience in the preparation of Vnesheconombank Group’s non-financial reports.

The results of the public hearings served to build a table of suggestions submitted by stakeholders and to analyse their potential inclusion in the current or next reporting cycles.