TBC is pleased to announce the launching of TBC ESG Academy. The initiative was officially announced on February 22, 2023, at the event held at TBC Concept Flagship Space, in Tbilisi, Georgia. TBC ESG Academy was established with the support of the Green for Growth Fund (GGF) Technical Assistance Facility and The European Fund for Southeast Europe (EFSE) Development Facility.
Following the ESG Academy Launch presentation, a panel conversation was held “The Importance of Green Economy in Georgia”. Participants in the panel conversation were: National Bank of Georgia Vice-President Papuna Lezhava, European Investment Bank (EIB) Head of Regional Representation Maciej Czura, Green for Growth Fund (GGF) and the European Fund for Southeast Europe (EFSE) Senior Investment Officer Ivane Lekvtadze, Frankfurt School of Finance & Management Co-Head Global Shield Solutions Platform Karsten Löffler and TBC Chief Risk Officer Nino Masurashvili.
The panel participants spoke about the importance of green financing, green and social taxonomies of the National Bank of Georgia, TBC’s role in promoting green financing, knowledge building and awareness raising about sustainable development in Georgia.
By establishing the ESG Academy, TBC aims to raise awareness and build knowledge about ESG topics, including diversity, affirmative HR policies, sustainable business models, circular economy, and climate risks relevant for Georgia and the region, and green financing opportunities. ESG Academy is a platform aspiring to educate TBC’s customers and employees. It is worth noting that in addition to the new ESG Academy, TBC already operates its TBC Academy, IT Academy, and Risk Academy.
As a leading financial institution in Georgia, TBC Bank is committed to making long-term, sustainable contribution to the country. TBC is guided by international sustainability standards and principles, making them part of the company’s development strategy, culture and day-to-day operations. Since 2021, TBC anchors its environmental, social and governance (ESG) targets and initiative in its ESG strategy, defining several key sustainability areas, including: The ESG governance structure at Board of Directors and executive management levels; the focus on sustainable finance, services and products; employees’ diversity, equality and inclusion; Impact measurement and reporting.
“TBC has an ambition to be an exemplary company in fostering and supporting environmental, social and governance (ESG) principles in the country and the region. We have a dedicated group of professionals whose goal is to sustain responsible business practices towards employees, customers, the community and the environment. TBC provides green financing to promote sustainable business models and business operations and monitors its supply chain, avoiding companies with poor environmental and social practices. Thus, we promote the idea of sustainability within our organization and outside of it.” – Vakhtang Butskhrikidze, TBC CEO.
Within the scope of enhancing the governance on climate-related issues, on February 22, 2023, representatives of the Frankfurt School of Finance & Management and the European Investment Bank (EIB) conducted Climate Change workshop for TBC Board and Management. The workshop is a part of the larger project, supported by the Technical Assistance Trust Fund (EPTATF) through its Climate Action Support Facility (CASF) for Promoting Climate Action for SMEs in Georgia. The workshop focused on creating enhanced awareness on good governance, oversight and management of climate-related risks and opportunities, climate change and knowledge on TCFD. The trainings were particularly beneficial in strategizing the role of the Board and Management in embracing the importance of key climate-related factors as potentially important drivers of TBC Bank’s business conduct. Additionally, the workshop focused on presenting the main takeaways of the one-year project of enhancing the climate action strategy in TBC and providing the management with clear perspective, as well as support buy-in from the top management.