Environmental, Social and Governance (ESG) factors
Factors related to climate change and sustainable development (environmental, social and governance – ESG) have an increasing impact on business operations and lead to changes in business models. Their implementation in all processes is fundamental for long-term development, as well as for the adequate response to market expectations, customer support and society as a whole.

 

  • Environmental, Social and Governance (ESG) factors include key themes and issues related to:

 

Ecological
Social
Governance
  • Reducing the carbon footprint
  • Increasing energy efficiency
  • Transition to a circular economy and adaptation to climate change
  • Protection and restoration of biodiversity and ecosystems
  • Engagement with socially responsible causes and initiatives
  • Adherence to recognized labor standards and fair working conditions
  • Protecting the health and safety of employees
  • Protection of human rights
  • Ethical standards and code of conduct
  • Responsible governance and diversity policies
  • Transparency and disclosure
  • Strategic priorities for sustainable development


First Investment Bank recognizes the growing importance of environmental factors and climate risk, which are reflected in the bank's business development strategies and have a significant impact on risk management.

 

First Investment Bank is a socially responsible institution implementing various projects in the field of corporate donations, education, culture and sports as part of the corporate social responsibility program.

 

For First Investment Bank, good corporate governance is a key element in ensuring long-term and sustainable development and a successful business model. The Bank's corporate policy is based on professional and transparent management in accordance with internationally recognized standards and principles of good corporate governance, taking into account the changes in the regulatory and economic environment, as well as the financial markets in the country and abroad.

Our approach
First Investment Bank adopts a comprehensive approach with regard to the introduction of sustainability requirements through integration into business processes, the risk management framework and corporate governance, incl. in the lending process and decision-making, the assessment of borrowers' creditworthiness and investment activity, in setting the "tone from management" regarding commitment to sustainable development.
 
Ecological factors – Social factors – Governance factors

Business strategy and development goals;             

 Risk strategy and risk appetite framework;

Credit process and decision-making;

Investment services and activities;

Management staff commitment to ESG;

Disclosure and accountability;

Development of products with sustainable elements;

Management and monitoring of ESG risks;

Evaluation of the creditworthiness of customers;

Evaluation of collateral for credit transactions;

Developing a culture of sustainability among employees;

Remuneration Policy;


  • Integration of Sustainable Development in the Bank's activities

Ivan Simeonov

Director of the Sustainable Development Directorate,

e-mail: ivan.simeonov@fibank.bg

 

The Sustainable Development Directorate ensures the integration of requirements regarding environmental, social and governance factors in the Bank's activities.

 

First Investment Bank is part of the joint initiative of the Bulgarian Stock Exchange and the Bulgarian Independent Energy Exchange to create a Green Finance & Energy Centre functioning as a think-tank for sustainable finance.

 

The head office of First Investment Bank is located in a new modern building certified in accordance with the BREEAM eco standard at level "Excellent".

Initiatives
First Investment Bank strives to support businesses and clients towards an environmentally friendly development and a sustainable future by developing financial products and services with sustainable elements and implementing social initiatives and causes of public interest and to vulnerable groups.


Environmentally friendly loan and other bank products
  • Sustainable Future mortgage loan to finance the purchase of real estate with the highest energy efficiency class (A+, A and B), in implementation of the carbon footprint reduction policy
  • Loan products for corporate customers: Green transport and Green energy, with a main focus on financing the use of electric vehicles and the construction of photovoltaic installations
  • Eco Portfolio product, intended for individuals and corporate clients, which is linked to a portfolio of bonds based on green projects and/or those based on loans for greenhouse gas emissions
  • Debit and credit cards made of recyclable materials, with an eco design to support the biodiversity of traditional Bulgarian varieties of fruits and vegetables
Development of financial literacy among adolescents
  • Continuous development and upgrading of the program for issuing debit cards for children and teenagers - Debit MasterCard PayPass Kids/Teen 
  • Fibank launches a new social and innovative joint project with Mastercard – Ninjiro: a digital platform for early financial education of children structured through interactive communication and play between children and parents
Smart Lady Program to Support Women Entrepreneurs
  • Continuous development and upgrading of Smart Lady program to support women entrepreneurs.
  • The Sustainable Lady fund was created to support innovative green projects of women entrepreneurs, which is realized through a joint initiative with MasterCard for equal start, innovation and circular economy, part of the green network of global and local projects of the institution in support of ecology.
Commitment to socially significant causes and initiatives to support vulnerable groups