Converse Bank has joined the UN Global Compact Initiative by confirming its commitment to responsible business and sustainable development.

The Global Compact Initiative is the world’s largest corporate sustainability initiative of the United Nations. It encourages the companies to align their business strategies and operations with the core sustainable development principles of the United Nations deriving from the Universal Declaration of Human Right, the Rio Declaration on Environment and Development the ILO Declaration on Fundamental Principles and Rights at Work and the United Nations Convention against Corruption.

“Our membership to the Global Compact Initiative is in line with the Bank’s values and mission to the fullest extent. We are committed to integrating the Global Compact principles with our corporate strategy and daily operations, thus supporting the sustainable development of the society and the environment,” said Mr. Andranik Grigoryan, Chief Executive Officer, Chairman of the Executive Board of Converse Bank.

Converse Bank, as a member of the UN Global Compact will mainly focus on:

•    Promoting greater responsibility towards the environment, climate, social and ecological factors, developing and expanding green technologies;
•    Adhering to the work standards, reassessing the workforce and human capital potential;
•    Respecting the internationally proclaimed human rights and ensuring the adherence thereto by each and every employee and customer;
•    Fighting corruption in all possible ways.
Having joined the UN Global Compact, the Bank has got the opportunity to implement the best international practices in cooperation with other participants of the Initiative and to advance the global sustainability agenda with joint efforts.

More than 20,000 institutions from around 160 countries have joined the Initiative, including the leading international banks such as Groupe BPCE, Raiffeisen Bank International AG, TBC Bank, Bank of America, China Development Bank, Deutsche Bank AG, etc.

Converse Bank is regulated by the Central Bank of Armenia.