Sustainable development is no longer a side note to business strategy for Armenia’s financial sector. Ahead of COP17 in Yerevan, we talked to one of Armenia’s longest-standing financial institutions, IDBank, and several of their partners about how business and stakeholders work together to develop urban forests and boost biodiversity in the country.
TEXT : Nazareth Seferian Photo : IDBank
COP17 is not just about the commitments taken at the state level and progress against those targets. The agenda looks in very practical terms at how finance affects the topic and what role the private sector should play in the story.
“A modern banking system is no longer simply a financial intermediary. It is a driver of change, one whose decisions ripple outward to affect both the environment and society at large” says Tatevik Vardevanyan, Head of the Communications and Sustainable Development department at IDBank, Idram Payment System, “We are a financial institution with 35 years of history and a long record of transformation, and we are now ushering in the next 35 years of sustainable development in Armenia on a foundation of innovation and digitalization.”
Financial technologies today impact people’s behavior on an everyday level and can be used to encourage more responsible consumerism. For example, customers can be nudged to reduce the use of paper and physical resources or encouraged to opt for cashless and digital transactions. All this also makes financial services more accessible, efficient and inclusive.
This is how the area adjacent to the Matenadaran in Yerevan will be transformed through the biodiversity garden restoration project.
A core part of this shift comes through IDBank’s digital ecosystem, which consists of the Idram and IDBank app, digital and QR payment solutions, and remote banking services. This move toward modern digital products reduces the company’s carbon footprint while also improving the speed and quality of customer service. More than 500,000 active users now avail of the Idram and IDBank app, resulting in more environmentally responsible behavior like less paper usage and fewer in-person visits. At the same time, this means that access to financial resources is now possible for citizens in every region of Armenia, no matter how far they are located from a bank branch.
For IDBank, protecting the environment goes well beyond standard corporate social responsibility. It is treated as a long-term investment in Armenia’s biodiversity and maintaining environmental equilibrium.
In the past five years alone, IDBank has allocated more than 100 million AMD for various environmental programs, resulting in more than 50,000 trees planted in new forests. In 2026, as part of the Bank’s 35th anniversary celebrations, a new set of large-scale projects will ensure steps toward biodiversity conservation, the restoration of urban ecosystems, and a higher standard of environmental responsibility.
In the heart of Yerevan, on land adjacent to the Matenadaran manuscript library, IDBank is supporting a large-scale project to restore a biodiversity garden and promote sustainable development. Through a partnership with the Matenadaran and the Armenia Tree Project (ATP), the residents of the capital will soon benefit from an educational and cultural garden set on 1.2 hectares of land in the heart of the city. The essence of this project is a marriage between cultural heritage and nature conservation. The garden will be designed by the Belgian firm Collectif Landscape through a process of public discussion and co-design, building solutions suited to local ecosystems. Initial plans consist of choosing drought-resistant, aromatic and medicinal plants native to Armenia, along with fruit trees and endemic species.
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The project also includes solutions to effectively manage water resources. A rainwater harvesting and reuse system, drip irrigation and water-permeable surfaces will all help reduce water consumption, while a “water theater” planned for the garden’s central area will combine a nature-based solution with the function of a public gathering space, creating a new venue for outdoor events.
“The objective is to beautify the areas surrounding the Matenadaran and create a garden that lends this historical and cultural environment an educational and cognitive dimension as well,” says Matenadaran Director Ara Khzmalyan, “Certain sections of the garden will feature plant species depicted in the miniatures of Armenian manuscripts, giving visitors the chance to encounter, in living form, the plant world they have previously only seen illustrated on parchment.”
The project’s long-term vision extends beyond the garden’s own boundaries. Plans call for exploring the feasibility of a “Green Bridge” connecting the Matenadaran with Victory Park, which could form a new ecological corridor in the center of Yerevan, supporting both biodiversity conservation and the development of green infrastructure.
Another green zone that is being developed in central Yerevan is Moskovyan Park, which has brought together Yerevan City Hall and IDBank. The bank’s 35th anniversary program includes a large-scale renovation of the park, aimed at making it greener, more comfortable and more contemporary as a public space. The program calls for restoring and expanding green zones, introducing modern lighting systems, and upgrading rest areas.
Forests and culture come together again in the Symphonic Forest initiative, which is funded by the IDBank and Idram program called The Power of One Dram, through which small contributions generated from everyday payments are channeled into a range of social and environmental projects. Symphonic Forest was born from an idea by Sergey Smbatyan, artistic director and chief conductor of the Armenian State Symphony Orchestra, who wanted to celebrate the orchestra’s 20th anniversary concert season by creating a new forest. What makes the idea distinctive is that the arrangement of the trees mirrors the structure of a symphony orchestra itself, bringing music and nature together within a single, symbolic space. Carried out in the Shirak region, the project features a partnership between IDBank and Idram, on the one hand, and the Armenian State Symphony Orchestra and My Forest Armenia, on the other. The plan calls for a total of 20,000 trees, of which 15,758 had already been planted in July 2026.
Where future forests begin
Given this high level of engagement in environmental responsibility, it is no coincidence that IDBank and Idram are one of the more visible corporate faces at COP17. IDBank’s presence at the conference will consist of programs, events and thematic pavilions implemented jointly with partners.
At the Armenia Tree Project pavilion, IDBank will present initiatives built around the combination of cultural heritage, green space and nature conservation. Within the COP17 program, the Matenadaran garden will be showcased as a demonstration of nature-based solutions in Armenia, highlighting its potential to reduce urban heat islands, improve air quality and advance public environmental education.
IDBank’s presence will also be felt at COP17 through the My Forest Armenia installation titled “Forest Biodiversity: An Immersive Experience.” The project sets out to show the extraordinary biodiversity of forests both above and below ground while giving visitors a direct, interactive experience of that world and the web of connections among living organisms that, together, form an ecosystem. It is important to use creative approaches like this to transform the environmental agenda into something people don’t just discuss but personally experience.
“We have been partnering since 2021, and this cooperation has allowed us to plant 58,500 trees. We are very happy that IDBank has a long-term vision and understands the crucial importance of forests for the future of Armenia and its people,” says Andre Gumuchdjian, Founder and Director of My Forest Armenia.
The future of biodiversity conservation is also unimaginable without new technology and knowledge. In this context, IDBank’s involvement in the AI in Biodiversity project carries particular significance. The new possibilities emerging at the intersection of artificial intelligence and environmental protection could reshape how we monitor nature, collect data, and analyze and conserve ecosystems. This clearly highlights once again just how closely digital innovation and sustainable development are intertwined.
IDBank’s involvement at COP17 also extends to the important theme of women’s role and leadership. Through The Power of One Dram initiative, the bank is taking part in the Women in Climate event, where close to 400 participants will discuss the role and opportunities of women within the climate agenda. IDBank will also moderate a panel discussion at the event and will award idcoins to its winning women participants, combining financial technology, incentive and social impact in a single gesture.
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“COP17 is an opportunity to look beyond the conference itself and think about the kind of future we want to build, and who needs to be part of building it,” says Nune Sakanyan, Founder and Director, Women in Climate and Energy NGO, “Our partnership with IDBank reflects this forward-looking approach by bringing together biodiversity, innovation, youth and women’s leadership. Building on last year’s AI4Biodiversity Hackathon, we are continuing this journey through an AI4Biodiversity panel at COP17, creating space to explore how artificial intelligence, new ideas and young talent can contribute to biodiversity conservation.”
For IDBank, the green agenda is ultimately about exactly this kind of interconnection – turning digital innovation into a tool for sustainable development, and social responsibility into long-term impact.
On the eve of the COP17 global summit, IDBank is reaffirming its readiness to continue and expand its environmental initiatives. Through the development of digital technologies, the introduction of green financing tools, and consistent steps toward biodiversity conservation, the Bank is helping shape a new culture of responsible business in Armenia.
“Seen through this lens, sustainability for IDBank is not a single, standalone direction, but an interconnected agenda spanning business, technology and social impact. It is built to create long-term value, well beyond the conference itself,” says Tatevik Vardevanyan, “The work that we do in this area is through key partnerships. We rely on the expertise of organizations that have years of experience in biodiversity and nature conservation. At the same time, we recognize the power of culture in creating awareness and dialogue about important issues, like environmental responsibility. The slogan of COP17 is ‘taking action for nature’ and we take that a step further, believing that joint action is the best way to go.”