Strategic Report Strategic Report Strategic Report Financial Additional Overview Strategy Performance Governance Statements Information Training activities play an important role in enhancing Direct environmental impact the implementation of the Policy. In 2018, the Bank We believe that the direct impact of the Banking Business provided training opportunities for the Head of Social on the environment is not significant. Nevertheless, and Environmental Risk and the staff involved in we undertake a number of measures to reduce paper, environmental and social risk management processes. electricity, and fuel consumption. “Green Boxes“ are The Head of Unit participated in the 12 Annualth placed on every floor of the Bank’s headquarters and are Performance Standards Community of Learning designated to collect paper for recycling purposes. Some organised by the IFC. The Community of Learning is a of the Bank’s paper-intensive departments switched to knowledge sharing forum aimed at strengthening the the principle of two monitors, which considerably reduces implementation of environmental and social standards paper waste. The lighting system in all of the Bank’s by financial institutions in emerging markets. The event service centres was replaced with energy efficient LED provided a chance to exchange experience, learn from lamps, which consume far less electricity than traditional investment case studies, and engage in dialogue among economical ones. In 2018, the Bank outsourced 45% of environmental and social risk management specialists its car fleet in order to reduce its fuel consumption. from all over the globe. A Social and Environmental Risk Management Training was held to help risk managers Greenhouse gas emissions and appropriately categorise the projects according to their environmental risk characteristics. More generally, the calculating methodology Bank has delivered several training sessions in this area We have reported on all of the emission sources required and consequently more than 100 employees were trained under the Companies Act 2006 (Strategic Report and during the last five years. Leading experts and state Directors’ Report) Regulations 2013 (Scopes 1 and 2) inspectors were invited as trainers. We intend to continue and additionally have reported on those emissions under the trainings in the future. Scope 3 that are applicable to our business. All reported sources fall within our Consolidated Financial Statements, In 2018, the Bank launched an Enhancement of which can be found on pages 154 to 283. We do not Environmental and Social System, supported by the have responsibility for any emission sources that are not Green for Growth Fund within the framework of the included in our Consolidated Financial Statements. Green for Growth Fund Technical Assistance Facility (GGF TAF). The project focuses on strengthening the In preparing our emissions data, we have used the Bank’s environmental and social framework for it to World Resources Institute/World Business Council for become a best-practice environmental and social Sustainable Development (WRI/WBCSD) Greenhouse management system in the Georgian market. The project Gas Protocol: A Corporate Accounting and Reporting aims (i) to assess current environmental and social Standard (revised edition) and emissions factors from processes of the Bank versus relevant recommendations the UK Government’s Greenhouse Gas Conversion Factors of international financial institutions and best international for Company Reporting 2016. For wastewater treatment practice, in particular ISO 14001:2015 international and discharge operations we used conversion factors standard, (ii) to address gaps identified during the from 2006 IPCC Guidelines for National Greenhouse assessment through revision and amendment of Gas Inventories. documentation and processes, providing consultancy, recommendations and implementation support for the Our reported data is collected and reported on in necessary improvements, and (iii) to conduct a final respect of the Bank, which includes all of its offices and assessment of upgraded environmental and social retail branches, where the Bank has operational control. procedures and systems to confirm our compliance The data is provided by on-site delegates, invoices and with requirements and best-practice as defined in the metre readings. initial phase of the project. Staff trainings are one of the deliverables of the project. The project should be We have adjusted the 2017 and 2016 comparative completed in 2019. greenhouse gas emissions in the table below to present the data only in respect of the Bank. The full greenhouse The Bank is committed to respecting the principles of gas emissions data for BGEO Group PLC for 2017 sustainable development, protecting the environment, and 2016 can be found in BGEO Group PLC 2017 and is willing to improve the level of public health safety Annual Report on the Group’s website at as an essential element for sustainable development www.bankofgeorgiagroup.com. and economic growth. The Bank will continue to conduct business with due consideration to environmental and social protection and contribute to the creation of a sustainable society. The Bank will further help its clients benefit from a proper and diligent implementation of the E&S Policy. Annual Report 2018Bank of Georgia Group PLC 73