Case study: How Banco Pichincha works with its clients and customers to encourage sustainable practices
Banco Pichincha C. A. is a comprehensive financial institution catering to all sectors, including individuals, microenterprises, small businesses, and corporations. It operates nationwide in Ecuador and holds a dominant market position as the largest bank in the country. In 2022, the total customer base reached 4,901,438. Banco Pichincha 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 Annual Report by Banco Pichincha, 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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With this case study you will see:
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- How Banco Pichincha proceeded with stakeholder identification and consultation, and
- How Banco Pichincha 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.
Banco Pichincha maintains an up-to-date stakeholder map that prioritizes each group and involves an ongoing dialogue process.
For further details, please refer to Banco Pichincha’s Sustainability Report 2022, pages 56-57.
How did Banco Pichincha work with its clients and customers to encourage sustainable practices and enable sustainable economic activities?
In its 2022 Annual Report Banco Pichincha reports that it works with its clients and customers to encourage sustainable practices and enable sustainable economic activities as follows:
Banco Pichincha has processes, channels, products, and services that support its sustainability strategy. Notable examples include the Environmental and Social Risk Management System (SARAS), products focused on social and environmental issues, and initiatives aimed at financial inclusion and banking access.
For additional information, please refer to Banco Pichincha’s Sustainability Report 2022, pages 67-69, 77-78, 80-81, and 105-106.
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 Banco Pichincha, 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:
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