The awarding ceremony of the Best Social Report/Sustainable Development Report 2007 contest took place last week. The contest first took place in 2006 within the framework of the ESRA-European Sustainability Reporting Awards in order to praise the Russian companies that are trying to both implement some social welfare projects and come up with social reports on this.

URSA Bank received a decoration called Debut. This year, the bank has for the first time drawn up a social report that meets the international GRI G3 standards and has already undergone an audit procedure, the bank’s press officer reports.

'Social reports are an important tool that can be used for making a company more transparent to both investors and the general public. We intend to build up on this kind of activity and come up with sustainable development reports annually,’ URSA Bank’s Deputy GD for Development Yuri Vavilov says.