Case study: How Globalance works with its clients and customers to encourage sustainable practices
Globalance is a Swiss private bank, entrepreneurially owned and managed, leading in sustainable investments. Globalance invests in future-oriented themes and companies with promising returns and positive impacts, dedicated solely to sustainable wealth management. Although Globalance’s operations are based solely in Switzerland, its clients’ investment portfolios span multiple asset classes and are globally impactful. Clients include private individuals, family offices, and foundations. Globalance is a signatory of the Principles for Responsible Banking (PRB) and is, accordingly, working with its clients and customers to encourage sustainable practices and enable sustainable economic activities. Tweet This!
This case study is based on the 2022 PRB Reporting and Self-Assessment Template by Globalance, prepared in relation to its implementation of the PRB, that can be found at this link. Through all case studies we aim to demonstrate what ESG/ sustainability reporting done responsibly means. Essentially, it means: a) identifying a company’s most important impacts on the environment, economy and society, and b) measuring, managing and changing.
Which Principles for Responsible Banking have been addressed?
The Principles for Responsible Banking addressed in this case are:
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- Principle 3: Clients and Customers
- Principle 4: Stakeholders
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- How Globalance proceeded with stakeholder identification and consultation, and
- How Globalance worked with its clients and customers to encourage sustainable practices and enable sustainable economic activities
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Stakeholder identification and consultation
Please describe which stakeholders (or groups/ types of stakeholders) you have identified, consulted, engaged, collaborated or partnered with for the purpose of implementing the Principles and improving your bank’s impacts. This should include a high-level overview of how your bank has identified relevant stakeholders, what issues were addressed/results achieved and how they fed into the action planning process.
Globalance has become a prominent example of success both in Switzerland and internationally, and is now a key reference and expertise source for the media. Globalance’s numerous awards from 2022 reflect this achievement.
Shareholder engagement with companies, fund managers, and projects is a primary way Globalance amplifies its impact. Detailed insights can be found in its 2021 Engagement Report.
Globalance participates in engagement pools, investor coalitions, and partner with various investment entities (e.g., fund managers). Notable examples include:
- CSP – Center for Sustainable Finance and Private Wealth (University of Zurich)
- Access to Nutrition Foundation
- CDP
- Swiss Sustainable Finance Association (SSF)
Globalance’s policy is to engage with students, academics, and scientific coalitions to promote its vision and contribute to education and research.
Additionally, Globalance locally selects suppliers who align with its sustainability commitments.
How did Globalance work with its clients and customers to encourage sustainable practices and enable sustainable economic activities?
In its 2022 PRB Reporting and Self-Assessment Template Globalance reports that it works with its clients and customers to encourage sustainable practices and enable sustainable economic activities as follows:
As a regulated Swiss bank, Globalance’s core client processes are governed by law and overseen by authorities.
Globalance is built on the foundation of a straightforward and equitable client relationship: no conflicts of interest, hidden costs, kick-backs, or short-term cash incentives for its team. Globalance’s focus is on the continuous empowerment of asset owners. Globalance provides information, education, and consultation on their sustainable impact preferences and goals. To enhance asset owner knowledge, Globalance developed a series of educational learning modules for customers in 2021. Additionally, Globalance offers weekly sessions for clients on sustainable investing topics and published an engagement report showcasing its approach to active ownership.
Globalance’s unparalleled transparency ensures complete, easily accessible, and understandable accountability to its customers. Building personal relationships is essential to achieving such customer accountability.
One of Globalance’s most effective tools for raising awareness about the impacts of investments is portfolio checks for prospective and existing clients. Anyone can upload any investment portfolio from any supplier onto Globalance World. Globalance then provides an “X-ray” of current sustainability metrics. Globalance has already gathered a significant number of users who have taken these assessments to demand more from their current wealth managers or to become Globalance customers.
UN Principles for Responsible Banking: Accelerating a positive global transition for people and the planet
With over 300 signatory banks representing almost half of the global banking industry, the Principles for Responsible Banking are the world’s foremost sustainable banking framework. Through these Principles, the banking community takes action to align core strategies, decision-making, lending and investment with the UN Sustainable Development Goals and international agreements such as the Paris Climate Agreement.
FBRH Principles for Responsible Banking (PRB) Assurance:
First class PRB assurance services: The result of solid, hands-on ESG/ Sustainability experience
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- FBRH is a GRI Certified Training Partner (Global), ISEP Training Centre and a member of CPD.
- FBRH builds trust. Over 200 reviews from top professionals from around the world demonstrate our ability to build strong, trusting business relationships.
- FBRH possesses a unique skill set that combines ESG/sustainability certified training, experience in advisory services and report preparation, and ESG/sustainability report assurance.
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The combination of all the above empowers FBRH to provide first class Principles for Responsible Banking (PRB) assurance services.
References:
This case study is based on published information by Globalance, located at the link below. For the sake of readability, we did not use brackets or ellipses. However, we made sure that the extra or missing words did not change the report’s meaning. If you would like to quote these written sources from the original please revert to the following link:
https://www.globalance.com/wp-content/uploads/globalance_un-prb_reporting_2022-1.pdf
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