Our approach to climate change

The changing climate presents both risks and opportunities for countries across the world. Having embarked on our climate journey in 2021, we have integrated sustainability into every aspect of our business. We are committed to reducing our carbon footprint, investing in green technologies, and supporting sustainable projects to build a more sustainable and inclusive economy for future generations.

 

Supporting the transition to a low carbon, resilient economy

We are dedicated to offering our clients robust climate finance options to support credible, safe, innovative, and high-quality climate solutions. We consistently explore opportunities to extend climate-related financing across various sectors and clients.

 

Risk management

We are committed to addressing climate risks by integrating their identification, evaluation and management within standard risk management procedures.

From 2023, the ‘top-down’ analysis of our business portfolio is accompanied by ‘bottom-up’ client-level assessments through an updated due diligence process.

 

Reducing our operational carbon footprint

We are committed to monitoring emissions from our own operations (including Scope 1, 2 and 3 emissions, except financed emissions) and implementing measures that support their reduction. We also commit to continuously improving our ability to measure our financed emissions and providing relevant figures in our latest Annual Report.

17.9 %

Exposure to carbon-related assets in Bank of Georgia’s gross loan portfolio (Dec-23)

We define ‘carbon-related assets’ as those tied to the four non-financial groups identified by the TCFD. The following industries are included: oil and gas, coal, electric utilities, air freight, passenger air transportation, maritime transportation, trucking services, automobiles and components, metals and mining, chemicals, construction materials, real estate management and development, beverages, agriculture, and food, paper and forest products.

0.00 %

Exposure to fossil fuel and coal exploration and mining assets in Bank of Georgia’s gross loan portfolio (Dec-23)

We have no exposure to prospection, exploration and mining of fossil fuels or electric utilities using coal.

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