ESG Standards in PayRay bank

PayRay Bank performs ESG (environmental, social and governmental) risk assessment using a methodology that enables the client to be assessed as a low, medium or high risk entity. This allows the bank to more deeply analyze potential ESG risks arising from the client’s activities, as well as take into account risk mitigation factors.

This methodology is based on the Environmental and Social Risk Categorisation List of the European Bank for Reconstruction and Development (EBRD) and the transition risk heat-map of the United Nations Environment Program Finance Initiative (UNEP FI). This approach gives PayRay Bank the opportunity to better assess and manage ESG risks related to customer activities.

The adoption of this approach in banking reflects a broader trend in the financial sector to promote sustainability and social responsibility, while taking environmental and governance considerations into account. This not only helps reduce risks for the bank, but also encourages businesses to be more responsible in their activities, taking into account environmental, social and governmental issues.