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Society

AraratBank committed to the Sustainable Development Goals of the United Nations

On 3 March 2023, an event dedicated to the 1st anniversary of AraratBank joining the United Nations Global Compact international initiative was held in the banquet hall of the “Zargatsum” branch of AraratBank.

Chairman of the Board, AraratBank, Mr. Grigor Hovhannissian, and UN Resident Coordinator a.i. in the Republic of Armenia, Mr. Nils Scott, made opening remarks. The event was attended by the representatives of the UN and the public sector, international financial institutions’ Yerevan branch and foreign offices, local and international organizations that are members of the UN Women Empowerment Program.

By joining the UN Global Compact international initiative in 2022, AraratBank has expressed its willingness to incorporate the UN sustainable development principles into its business practices and act in accordance therewith.

The Ten Principles of the United Nations Global Compact are derived from the Universal Declaration of Human Rights, the International Labour Organization’s Declaration on Fundamental Principles and Rights at Work, the Rio Declaration on Environment and Development, and the United Nations Convention Against Corruption.

“We are committed to making the UN Global Compact and its principles part of the strategy, culture, and day-to-day operations of our company and to being involved in collaborative projects which advance the broader development goals of the United Nations, particularly the Sustainable Development Goals,” stated the Chairman of the Board, AraratBank, Mr. Grigor Hovhannissian.

“Providing a universal framework for corporate responsibility, the UN Global Compact, the world’s largest corporate sustainability initiative, sets principles to guide responsible business management. By joining the UN family through the UN GLOBAL Compact, a global movement of more than 12,000 businesses and 3,000 non-business stakeholders across 160 countries, AraratBank has a unique commitment to strengthen the cooperative, mutually supportive environment in Armenia for a more sustainable and inclusive future”, noted the UN Resident Coordinator a.i., Mr. Niels Scott.

A number of the world's leading banks, such as Raiffeisen Bank International AG, Bank of America, British Business Bank, National Bank of Greece S.A., TBC Bank, Korea Development Bank, China Development Bank, Deutsche Bank AG.

The Ten Principles of the UN Global Compact.