Case study: How BanBajío 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.

BanBajío defines its stakeholders as those entities with which it has a direct or indirect influence, and who, in turn, either impact BanBajío or are affected by its decisions and actions. BanBajío recognizes the significance of incorporating their expectations and concerns into its operations.

By conducting both internal and external analyses, BanBajío identifies and prioritizes these groups to create an effective engagement strategy. BanBajío offers various channels and platforms to foster dialogue and facilitate the exchange of pertinent information, fostering mutual trust and strengthening relationships that contribute to its business’s growth and development.

BanBajío’s Stakeholders include:

• Employees
  • Shareholders and Investors
  • Customers
  • Credit Rating Agencies
  • Suppliers
  • Authorities
  • Regulatory Bodies
  • Competitors
  • Financial Sector
  • Media
  • Academia
  • Partners and Civil Society Organizations
  • General Community

For additional details about BanBajío’s identified stakeholders, please refer to its Integrated Annual Report 2023.

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

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

In line with its commitment to engaging customers in its transition to sustainability, BanBajío has established a range of policies, including its Code of Conduct, which outline the values and principles guiding relationships among employees and with external stakeholders, such as customers and consumers. BanBajío is in the process of transforming its Social and Environmental Management System into an Environmental and Social Risk Assessment System for the social and environmental evaluation of its portfolio. This new system will enhance BanBajío’s commitment to assessing the activities of its clients through a thorough evaluation that categorizes their actions as having high, medium, or low socio-environmental impact. As part of this initiative, BanBajío will suggest environmental and social commitments during the credit process to raise awareness about sustainability and improve overall performance.

You can find the key initiatives BanBajío has implemented detailed throughout its Integrated Annual Report 2023.

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), IEMA 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 BanBajío, 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.bb.com.mx/cs/BanBajio/home/Inversionistas/Sustentabilidad/PRB-Reporting-and-Self-Assessment-Template-BanBajio.2023.pdf

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