Case study: How vdk bank 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.

As part of a Double Materiality assessment, vdk bank conducted a stakeholder consultation, which resulted in the identification of four key stakeholder groups:

1. Staff members (both at headquarters and branch locations)
2. Bank management (including management and the board of directors)
3. Customers (both individual and professional clients)
4. External stakeholders (such as social actors, governments, and suppliers)

The outcomes of the materiality assessment highlighted various ‘material topics’ for vdk bank, including climate change and issues related to social impact.

In addition to this structured and targeted stakeholder consultation, vdk bank maintains ongoing, both formal and informal, communication channels with a wide range of stakeholders.

• Employees: Monthly works council meetings, regular interactive sessions on the bank’s performance and initiatives, anonymous wellbeing surveys, and whistleblower programs.
• Customers: Conducting satisfaction surveys, organizing focus groups, distributing regular newsletters, and maintaining a formal complaints procedure.
• Shareholders (of which 2/3 social organisations): Engaging through general meetings and ongoing strategic communications.
• Networks and Formal Partnerships: Participation in sector-specific alliances such as the Global Alliance for Banking on Values, the Federation of Belgian Banks, collaborations with smaller retail banks, and cross-sector initiatives like The Shift—Belgian sustainable companies. Additional partnerships include Beweging.net (employee movement), BBL (environmental movement), Minerva (progressive think tank), Forum Ethibel (sustainable banking verifier), and ISS (sustainability data provider).
• Broader Society: Maintaining regular contact with various NGOs, supporting research projects, engaging with academic institutions, and participating in public activities and debates.

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

In its 2024 PRB Report vdk bank reports that it works with its clients and customers to encourage sustainable practices and enable sustainable economic activities as follows:

vdk bank utilizes its mortgage loans both as a tool to promote more sustainable housing in Belgium and as a means to support social mobility. This approach involves evaluating each application individually and offering tailored advice to applicants.

In corporate lending, vdk bank adheres to a strict acceptance policy outlined in the vdk Code of Ethical and Sustainable Banking. This policy ensures that sectors with the greatest negative impact on the climate are excluded from vdk bank’s scope. Additionally, vdk bank focuses on supporting companies and organizations that have a positive influence on social inclusion within Belgium.

Regarding investment funds, vdk bank recommends purchasing funds based on personalized advice. The funds vdk bank endorses are selected according to transparent sustainability criteria.

vdk bank also promotes savings through its ‘spaarplus rekening,’ with vdk bank guaranteeing that all funds collected are directly used to finance organizations or companies that contribute positively to environmental quality or social inclusion.

Furthermore, vdk bank engages its clients and the broader community through campaigns, position statements, and public activities—such as debate evenings and lectures—that emphasize the importance and opportunities of sustainability and sustainable banking.

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 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 vdk bank, 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.vdk.be/sites/default/files/2025-05/20250521_Principles of Responsible Banking %28EN%29_0.pdf

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