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FUIB is among the leading transparent companies in Ukraine
03 December 2021
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Centre for CSR Development Ukraine in partnership with Corporate Governance Professional Association (CGPA), with the support of Center for International Private Enterprise (CIPE), presented ESG Transparency Index of Ukrainian Companies 2020. FUIB took the 2nd position in the transparency rating.

For the second consecutive year, FUIB was included in the TOP-3 of transparent companies in Ukraine. During the year, the bank increased its performance, rising from third to second position. The index evaluates public information for 2020 according to ESG criteria (social, environmental and governance factors in the work of companies) on the websites of Ukrainian companies that are among the 50 largest taxpayers and companies that have voluntarily joined the evaluation. The TOP-3 most transparent companies include: PJSC VF Ukraine (Vodafone), JSC First Ukrainian International Bank, DTEK Group.

Serhiy Chernenko, FUIB's Chairman of the Board, says: "For us, the second position in the transparency rating is great pride and high responsibility. We are open and always ready for dialog with clients, partners and society because it is a guarantee of trust. With the help of the website and social networks, we keep abreast all stakeholders of the latest developments in the life of the bank. For clients, it is an opportunity to obtain reliable information about the products and services of the bank, to explore the reliability of the financial institution. For partners it is the opportunity to decide on cooperation; for the local community - to assess the possibility of joint initiatives. This award is a recognition for our entire team, which is changing the business, its life and the life of society for the better. "

A total of 56 company websites were analyzed and the results of activities in the following areas were evaluated: corporate governance, human rights, labor relations, environment, consumer relations, honest operational practices, community work, company reporting (including management report and non-financial reports), website navigation and accessibility.

Drivers that push Ukrainian companies to more widely implement ESG-factors in their activities are new trends in the corporate world of the EU and the perception of companies by the younger generation, for whom high environmental and social standards of corporate governance are key when choosing a job. Customers and partners of companies are also increasingly focusing on these standards. The level of transparency of Ukrainian companies is gradually increasing. Thus, the average level of information disclosure by Ukrainian companies according to ESG indicators is 26.4% in social aspects, 36.6% in environmental aspects, and 27.7% in corporate governance,” said Maryna Saprykina, Chair of the Board of Centre for CSR Development Ukraine.

Oleksandr Okuniev, Chairman of the Board of the Corporate Governance Professional Association, added: “ESG-factors are not so much a fashion in corporate governance as they make serious sense to investors. If in the past the company with the highest income was considered a good company for investment, today the company that is best managed - i.e. the one that has a sustainable path of development - is the most reliable. That is why today such attention is paid to the transparency of governance, which is seen in the high environmental and social standards of companies."

The average level of information disclosure of Ukrainian companies according to ESG-indicators is 32%, and of companies out of TOP-10 it is more than 60%.  

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