Our role is connected to our responsibility to contribute to a better future through innovation and technology, to increase the accessibility of financial services, and to enable our customers to be a part of the globalised world.
Our commitment to sustainable development derives from our role as the leading financial institution in Georgia’s development. We recognise our significant impact on Georgia’s economy and our vital role in fostering business growth, employment, and societal progress. As a market disruptor in Uzbekistan and with our expanding international operations, we also integrate sustainable development practices across the wider region.
Our ESG Strategy underscores our dedication to making a lasting, sustainable impact. We are committed to being the foremost advocate of Environmental, Social, and Governance (ESG) principles, not only in Georgia but also across the broader region. By integrating ESG considerations into our operations, we aim to drive positive change, support sustainable development, and lead by example.
Various initiatives and programmes to support our ESG strategy
2021 was a milestone year in the establishment of the ESG governance structure, which spans different organizational levels. Two ESG-related committees were established – one at the board level, another at the executive management level. The ESG Coordination Department was established in TBC Bank to support and coordinate initiatives defined by the ESG strategy. TBC Bank initiated an ESG Ambassadors programme, which aims to strengthen environmental, social and governance structures and increase the involvement of TBC employees as focal points for these areas. Through this initiative, TBC employees will contribute to the quality of sustainability for customers, company, the environment and society as a whole.
In order to expand our focus on diversity, gender and inclusion issues, we have developed a Diversity, Equality and Inclusion Policy (available at www.tbcbankgroup.com), which sets targets and establishes a methodology to advance diversity, equality and inclusion, integrating its approach into the Group’s operations and management processes and focusing on diverse areas including gender, multicultural, multigenerational disability backgrounds and other commonly recognized diversity characteristics Gender equality and the empowerment of women and girls are important dimensions of the sustainability of the company and its stakeholders, including customers, employees, suppliers, partners and society as a whole. The policy takes into account the United Nations Women Empowerment Principles (WEPs) – a set of principles offering guidance to businesses on how to promote gender equality and women’s empowerment in the workplace, marketplace and community. TBC Bank became a signatory of the UN WEPs in 2021. Since 2022, TBC Bank has been the only private company in Georgia to establish a strategic partnership with UN Women. This partnership focuses on advancing women’s professional development, supporting women-owned businesses in urban and rural areas, improving women’s skills in technology, training TBC staff, and raising awareness about gender equality.
TBC strives to increase its positive impact on society and the economy through introducing new financial products and services that are designed to deliver a specific social or environmental benefit. The ESG Strategy sets targets for the growth of our total sustainable loan portfolio, including financing energy efficient, renewable energy and resource efficient projects, women-led and women-owned business, startups and rural businesses
In 2023, we established the ESG Academy in order to raise awareness and knowledge of ESG topics, including green and social financing, regulatory requirements, diversity and affirmative approaches, sustainable business models and practices among the Bank’s customers as well as TBC employees. The first training programme, “The Green Mind-Set and Green Financing”, was launched in March 2024, with support from two partner international financial institutions, the Green for Growth Fund (GGF) and the European Fund for Southeast Europe (EFSE). More than 300 employees attended the training course in 2024. The programme will train an additional 600 employees and 300 retail, MSME and corporate customers by the end of 2025.
Our ESG targets and achievements
Targets
- Measure the Group’s indirect performance towards the Paris Agreement targets for reduction of GHG emissions;
- Target volume of our sustainable loan portfolio - GEL 1.4 billion;
- Increase female representation in middle managers and agile leaders to 43%;
- Increase female representation in the ICT, risk and finance segments to 48%.
Key achievements in 2024
- The total volume of our sustainable loan portfolio reached GEL 1.73 billion, increasing by 40.5% since the end of 2023, when it stood at GEL 1.23 billion;
- We measured our performance against the Paris Agreement targets for the reduction of GHG emissions;
- We started incorporating the standards of the Science-Based Targets Initiative into our performance measurement methodology;
- The share of renewable energy in our total electricity consumption in the regions grew up to 50%;
- The TBC ESG Academy launched the first green mindset and green financing course for our employees and customers;
- Share of women in ICT Risk and Finance reached 46%;
- The number of participants in our educational programs in ICT areas reached 724, achieving 42% representation for women and 41% for participants from the regions.
Targets
- Target volume of our sustainable portfolio - GEL 2 billion;
- Train 900 employees and 300 retail, MSME and corporate customers through ESG Academy;
- Increase female representation in middle managers and agile leaders to 43%;
- Increase female representation in the ICT, risk and finance segments to 48%;
- Diversity and disability confidence – Development of standard approaches and documentation, tailored trainings for different functions in TBC.