OREANDA-NEWS. Vnesheconombank Deputy Chairman, Board Member, Chairman of the Managing Committee of the UN Global Compact (GC) Network Russia Alexandr Ivanov participated in the 4th UN Global Compact Leaders Summit.

In the attendance of the Leaders Summit-2013 chaired by UN Secretary General Ban Ki-moon and held once in three years were high-ranking leaders from business sector, civil society, governments and agencies of the United Nations Organization.

The Summit participants discussed issues of formulating a new strategy of sustainable development after 2015 and such global priorities as climate change, providing water resources and food, respect for human rights and fight against discrimination, decent work and education. Moreover, special attention was given to business sector's initiatives in corporate social responsibility and sustainable development in order to further apply them and increase their influence on markets and communities.

At a special session "State Companies as Instruments for Promoting Corporate Responsibility and Sustainable Development" they discussed issues of government policy in corporate responsibility and mechanisms for encouraging business to step up its activity in this respect.

Speaking at the Session Alexandr Ivanov said: "As a development institution responsible for pursuing government investment policy Vnesheconombank is gradually becoming a leader and catalyst for corporate and social responsibility practice. Even now we are energetically introducing principles of responsible financing in accordance with the best international practice. This is reflected in the fact that we tighten requirements for ecological and social components of investment projects implemented with our participation.

Touching on issues of sustainable development A. Ivanov said that Vnesheconombank was actively enhancing ideology of responsible financing. To this end, Vnesheconombank approved its own Policy of Responsible Financing that determines basic objectives, principles and lines of the Bank practical activity to assist in socio-economic and ecological development.

A. Ivanov stressed that Vnesheconombank's top priorities are infrastructure, high-technology industries, small and medium-sized businesses, innovations and modernization of enterprises. For example, more than 20% of Vnesheconombank's projects are aimed at increasing efficiency of natural resources utilization, environment protection and about 20% of projects are aimed at increasing energy efficiency. Due to the implementation of projects supported by Vnesheconombank in 2007-2012 more than 155 thousand jobs were created at production facilities.

At least 10 thousand jobs will be created in the current year. Budgetary effect from implementing projects funded by Vnesheconombank is expected to exceed 57 billion dollars.

The UN Global Compact Leaders Summit is the biggest UN gathering of high-ranking business leaders which takes place once in three years. The Summit is a unique forum for discussing accumulated best practices and searching for solutions for introducing principles of the UN Global Compact in business management strategy and business practice.