Maib publishes its 2023 sustainability report
Maib presents its 2023 Sustainability Report today, which provides details of maib’s non-financial impact. It is prepared in accordance with widely accepted GRI standards of ESG reporting. As this is the Bank’s second ESG report it provides the public with the overview of maib’s progress across key sustainability metrics. In 2023 report for the first time maib discloses the carbon footprint of its financed portfolio and the impact of its green portfolio.
The report can be downloaded at the following address.
Key achievements in maib’s sustainability journey:
- - Sustainability strategy: maib adopted a sustainability strategy and roadmap which establishes the Bank’s long-term sustainability plan and sets concrete targets each with a responsible individual;
- - Financed emissions: maib’s estimated1 financed emissions totaled at 927,920 tonnes of CO2e in 2023 (this is the first time the Bank has calculated this);
- - Own operations: maib’s estimated carbon footprint from its own operations for 2023 was at 7,685 tonnes of CO2e (the recalculated value for 2022 was at 7,802 tCO2e);
- - Green portfolio: maib’s green portfolio reached MDL 580 million at the end of 2023, up from MDL 334 million at the end of 2022, up by 73% year-on-year;
- - Access to banking for Ukrainians: following the success of its assistance project in partnership with UNHCR, maib is seeking to continue helping Ukrainian Forcibly Displaced Persons in Moldova.
Giorgi Shagidze, maib CEO, said:
“This report reflects our unwavering commitment to embedding sustainability into every facet of our operations. We made significant strides, from an improved gender pay gap calculation and an inaugural financed emissions estimation to the partial implementation of our climate risk management framework.Our efforts have been recognized by Sustainalytics, who have issued a rating that affirms our dedication to transparency and accountability. As we continue to support Moldova’s energy independence, our green portfolio, which is mostly made up of renewable energy loans, grew by 73% this year. We remain steadfast in our mission to build a responsible, sustainable organization for all stakeholders.”
About maib
Maib is the largest bank in Moldova, with a share of 36.1% of deposits and 38.0% of loans of the entire banking system at the end of 2Q 2024. Maib is a disciplined lender with NPL ratio of 1.9% and is well capitalised with CAR of 22.2% as of 30 June 2024. The Bank is of systemic importance to the country, it serves almost a third of the population and is one of the largest private employers in Moldova, with a workforce of over 2,400 people. Since 2018, maib's largest shareholder is a consortium, which includes the European Bank for Reconstruction and Development (EBRD), Invalda INVL, a leading asset management group in the Baltic States, and Horizon Capital, a private investment fund focused on emerging markets.
