Case study: How Spuerkeess works with its clients and customers to encourage sustainable practices

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.

Spuerkeess collaborates with the following stakeholders with a clear objective of achieving mutually agreed outcomes:

• Financial centre regulators (EBA, ECB, ESMA, European Commission)
• The State of Luxembourg (the sole shareholder)
• Customers
• Bank employees
• Employee representatives
• ESG partners (researchers, consultants, UNEP-FI)
• Scientific Advisory Board
• Professional Associations (such as ABBL)
• Suppliers
• The Luxembourg population
• Media
• Local associations
• NGOs
• Rating agencies
• Industrial subsidiaries
• Companies included in Spuerkeess’s corporate equity portfolio
• Companies from Spuerkeess’s business loans to SMEs portfolio

More details on how Spuerkeess identifies its stakeholder can be found in chapter 3 (“Contenu et matérialité”) at the beginning of the report (NFR 2023), on Spuerkeess’s stakeholders in chapter 2.5 of part I, on the stakeholder mapping in chapter 1.1 of part II (NFR 2023), on their management in chapter 3.7 of part III (NFR 2023).

How did Spuerkeess work with its clients and customers to encourage sustainable practices and enable sustainable economic activities?

In its 2023 PRB Reporting and Self-Assessment Template Spuerkeess reports that it works with its clients and customers to encourage sustainable practices and enable sustainable economic activities as follows:

Spuerkeess remains fully committed to its role as a “Transition Enabler” and takes its mission to support clients in transitioning to more environmentally and socially respectful modes of operation and consumption very seriously. This commitment includes actions at the bank level, particularly through educational and awareness campaigns aimed at customers, as well as advisory initiatives for those looking to enhance their ESG outcomes.

Additionally, the partnership with Greenomy will allow Spuerkeess to strengthen its position as a “Transition Enabler” by providing customers with a comprehensive reporting and consultancy package, developed in collaboration with one of its consultants, while fostering sustainability within the Luxembourg economy. Spuerkeess is engaging with key corporate and SME clients to prepare them for future reporting requirements, such as the EU Taxonomy and the CSRD. By developing a harmonized ESG questionnaire with specific questions, Spuerkeess aims to assess and improve their ESG maturity and collaboratively define future steps.

Spuerkeess has published various policies designed to promote sustainable practices, increase positive impacts, and mitigate negative ones. The following policies can be accessed via the referenced website links:

• Fair advertising and marketing policy
• Debt collection policy
• ESG exclusion policy
• Responsible Credit & Investment portfolio policy

Moreover, Spuerkeess engages with its equity stakeholders in sectors such as aviation and collaborates with businesses and SMEs to define decarbonization targets, supporting their transition to net zero by 2050.

In addition, Spuerkeess has established a dedicated team focused on innovation and product development for retail and professional customers, with the ambition of further incorporating the ESG dimension into its business solutions.

Spuerkeess also promotes ESG through interviews, conferences, podcasts, and blogs to educate customers and encourage them to make informed choices about investing in sustainable products. The bank guides clients in managing their finances through products and services that align with initiatives helping them in their day-to-day management.

Finally, Spuerkeess undertakes several initiatives to raise awareness and support clients in their transition, as described in Part I, Section 4.3 of the NFR, which include:

• Accelerating e-mobility through preferential financing terms and partnerships with organizations such as ACL and Enovos.
• Contributing to digitalization by financing digitalization and innovation projects and collaborating with the EIF (European Investment Fund).
• Supporting energy efficiency projects through tools like the Green Eligibility Checker and Ecobonus, and providing aid and finance advice.

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

• • • 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.

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 Spuerkeess, 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.spuerkeess.lu/fileadmin/mediatheque/documents/about_us/RSE/Principles_for_Responsible_Banking_Spuerkeess_2023.pdf

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