VEB.RF Officially Starts Selecting Verifiers of Sustainable Financial Instruments
VEB.RF has started selecting organisations to be included in the permanent list of verifiers of sustainable financial instruments. The process was launched in accordance with Ordinance of the Russian Government No. 3024-r of 18 November 2020 and Resolution of the Russian Government No. 1587 of 21 September 2021. The launch of the verifier selection process is a key stage of implementing the mechanism for sustainable financial instruments verification, and it represents the full-fledged launch of the green finance market in Russia.
From now on an organisation may submit to VEB.RF an application for the inclusion in the list of verifiers. The applicant should confirm its compliance with verifier requirements in accordance with Resolution No. 1587 in respect of having sufficient experience in conducting assessments, adequately qualified experts, effective business processes, an organisational structure that allows the applicant to verify financial instruments, verification methodologies, a positive business reputation, and compliance with minimum business duration requirement (1 year).
At the current stage, in order to submit an application for the inclusion in the list of verifiers, an organisation should fill in the application and questionnaire templates posted on VEB.RF’s website and attach supporting documents. An application with attached documents should be routinely sent by e-mail at email@example.com and officially by mail to VEB.RF’s address. VEB.RF is currently developing a digital platform for sustainable financial instruments that will automate the process of submitting applications. VEB.RF should consider applications within 60 business days.
Before the permanent list of verifiers is made, the temporary list of verifiers posted on VEB.RF’s website applies.
VEB.RF representatives highlighted the implementation of a Yakut SIB project related to assisted living during the meeting of the project committee chaired by Vice-President Olga Balabkina. According to Yakut-Sakha Information Agency, the repair of the assisted living facility was completed in the second quarter, young people with mental health disabilities were successfully adapting to their new home, acquiring new skills and obtaining employment.
The project committee members discussed the stages of the social impact project in the area of social services.
“This is a key quarter. The first stage was preparatory, while the second one was marked by important events. The assisted living facility was repaired and furnished with new furniture. From 1 August 2021 through 1 September 2021, social beneficiaries were moving into the building and are currently occupying the premises. All arrangements have been timely completed,” Director of VEB.RF’s Russian Government Agent Office Denis Bokov said.
He noted that the stage was considered important due both to the repair completion and the people’s adaptation. For instance, the survey results show that the young people find their living conditions quite satisfactory.
“Additionally, 16 staff members were recruited including home carers, psychologists and social workers. All of them have the required qualifications, and 12 people received off-the-job training in St. Petersburg. It’s a pleasure to note that the adaptation process is developing rapidly, and six people have already obtained employment. Thus, we can say as early as now that there has been no significant deviations from the planned schedule. In the third quarter we will start working with home bred children, and we acknowledge the importance of parental involvement.
Yakut Minister of Labour and Social Development Elena Volkova informed the participants about maintenance services, renovation works and project implementation plans.
According to Project Manager of Saint Petersburg–based association of disabled children’s parents GAOORDI Alexey Ignatenko, the tenants accommodated in that quarter were category 1 beneficiaries. The rest of the families also had contacts with project managers.
“Planned individual and group adaptational training is under way. We have also organised online meetings with tenants of our facilities. Young people were able to communicate, become acquainted and give each other gifts. We are planning to arrange such meetings in future, since they give the positive emotional backing these people need.
According to Head of the Assisting Living Service Lena Denisova, the young people have good labour potential. An individual employment plan was prepared for each beneficiary.
“Young people develop social and domestic skills every day. They do powerlifting, go swimming, practise athletics and improve the level of computer literacy at a Book 0.3 specialised library. Our specialists also hold special events, help young people to develop cooking skills and handle money. We will continue to teach them and help them to better adapt to life,” Lena Denisova said.
In conclusion, Managing Director of VEB.RF’s Russian Government Agent Office Mikhail Alashkevich gave a positive opinion on the project implementation in the Republic of Sakha.
“We are now at the very beginning. It is especially important to maintain the results. I believe that this project is about the future, about people who haven’t ever discussed their future before and who are not only discussing it now, but also translating their dreams into reality. We are pleased that we could increase the project scope and attract additional people,” Mikhail Alashkevich said.
As a reminder, the first assisted living care home was opened in Yakutia. The project initiated by Yakut authorities is aimed at introducing new social services in the region for people with mental health disabilities that are alternative to specialised in-patient facilities.
The programme is part of the SIB agenda initiated in Russia by VEB.RF. Currently, more than 1,100 people with mental health disabilities are living in special care institutions in Yakutia. The project is designed to replace in-patient treatment with home care, so that people with disabilities could habituate themselves to living at home or in conditions close to living in family, and unlock their labour potential.