PrivatBank ESMS Analysis and Update

Client: PrivatBank

PrivatBank, the largest commercial bank in Ukraine, initiated an enhancement of its Environmental and Social Risk Management System (ESMS) in response to cooperation with the World Bank and to align with evolving EU-aligned legislation under the Ukraine-EU integration process. AVG was engaged to carry out a review and update of the Bank’s ESMS in line with the World Bank Environmental and Social Framework (ESF), IFC Performance Standards, and best practices in ESG risk management.

Project objectives

The project assignment was separated into three main tasks:

Conduct an in-depth review of the existing ESMS and update internal documents to align with national legislation, international standards, and sustainability frameworks (ESF, IFC, EBRD, GRI, CSRD);

Develop a capacity-building program to support ESMS implementation and staff awareness;

Deliver targeted training and practical support for environmental and social risk assessment.

Results and main conclusions of the study

As a result of assignment, AVG has conducted necessary actions under assignment tasks, which included:

Task 1: ESMS system review and documentation update

Task 2: Capacity building program

Created an online training course on sustainable development and ESG awareness for bank employees;
Integrated core ESMS principles into existing HR training structures.

Task 3: Practical ESG risk training

Conducted basic E&S risk assessment training for relevant banking departments;
Delivered five client-based site audits in the agricultural sector, supporting the Bank’s team in applying ESG assessment tools in practice;
Provided hands-on guidance to improve institutional ESG assessment capacity.

PrivatBank ESMS Analysis and Update

Project objectives

Results and main conclusions of the study

Relevant services