Alexey Akulov










Alexey Akulov


Head of sustainable finance unit

Definition Responsible Investment Banking
My short definition of responsibility in investment and banking is when a financial institution cares about environmental and social impacts of its operations – both direct and indirect – as much as it does with regard to its financial performance. When it comes really true it pays off in full.

Areas of Expertise
Environmental and social sustainability, environmental and social risks in financial sector, E&S risk management system, E&S due diligence and monitoring, development impacts evaluation, trainings.

Curriculum Vitae
After graduation from university Mr. Akulov worked for Center of environmental audit and management at the Department of natural resources and environmental protection of Tomsk region. In 2007-2013 Mr. Akulov worked for the international environmental consultancy firm ERM at its Moscow branch started as a Junior consultant through to Principal consultant and Head of transaction services practice. During his professional career Mr. Akulov gained deep knowledge and vast experience in the areas of sustainable finance, environmental and social due diligence, environmental and social sustainability standards and requirements of international financial institutions. In 2013 Mr. Akulov joined Vnesheconombank and took a position of the Head of sustainable finance unit. His key responsibilities include development and implementation of responsible finance practices into the bank’s credit and investment operations in line with the internationally recognized sustainability standards and approaches.

While environmental and social considerations have become a standard practice within many national and international financial institutions over the past decade, the Russian financial sector is still only taking its first steps towards better sustainability. Environmental matters in Russia have traditionally been a prerogative of state regulatory bodies. The philosophy of industrial companies, therefore, was, and in many cases still is, to comply with environmental regulation. Financial institutions lending to and investing in industrial companies preferred to distance themselves from their clients’ environmental issues. Social aspects, as currently understood within the ESG concept, received even less consideration. Tighter environmental regulation, however, and, more importantly, better enforcement, political developments, wider international cooperation, increased public awareness and promotion of sustainability standards by major international finance institutions acting in Russia have now instigated a change of approach by financial sector companies to address ESG issues. This chapter will discuss what is happening, and why, and the key challenges to implement sustainability strategies into the financial sector operations in Russia.

Environmental and sustainability professionals worldwide

Hobbies & Social Engagement
Playing piano, photography.