Case study: How Bank Jago identifies and works on strategic business opportunities to increase positive and reduce negative impacts
As technology advances and Indonesia’s digital-savvy generation emerges, the country’s digital ecosystem is steadily maturing. Amid these developments, Bank Jago was established and has grown over time. Designed as a technology-driven bank integrated within Indonesia’s digital landscape, Bank Jago aims to empower millions by offering life-focused digital financial solutions. The bank provides a range of banking products and services—both conventional and sharia-compliant—that are accessible to all, including retail consumers, the mass market, and micro, small, and medium enterprises (MSME). Bank Jago is a signatory of the Principles for Responsible Banking (PRB) and is, accordingly, identifying and working on strategic business opportunities to increase positive and reduce negative impacts. Tweet This!
This case study is based on the 2024 PRB Responsible Banking Progress Statement by Bank Jago 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:
- Principle 3: Clients and Customers
- Principle 4: Stakeholders
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- How Bank Jago proceeded with stakeholder identification and consultation, and
- How Bank Jago identified and worked on strategic business opportunities to increase positive and reduce negative impacts
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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.
Bank Jago recognizes the significance of cultivating strong and effective relationships with its diverse stakeholders. These include employees, customers, shareholders, suppliers, business partners, the broader community, and regulatory authorities. The bank is committed to promoting open and transparent communication with all these groups, aiming to build mutually beneficial partnerships.
How did Bank Jago identify and work on strategic business opportunities to increase positive and reduce negative impacts?
In its 2024 PRB Responsible Banking Progress Statement Bank Jago reports that it identified and worked on strategic business opportunities to increase positive and reduce negative impacts as follows:
Bank Jago is dedicated to responsibly working with clients and customers to address significant social and environmental impacts. The bank is continuously refining its approach to sustainability and sustainable practices by aligning its products and services with principles that promote a healthy and inclusive economy.
Understanding that this is an ongoing journey, Bank Jago intends to further develop action plans, strengthen monitoring systems, and improve internal policies to incorporate environmental, social, and governance (ESG) criteria into its decision-making processes.
Updates on these strategies, along with details on progress and key achievements, will be shared in Bank Jago’s upcoming reporting statements, demonstrating the bank’s commitment to fostering resilient and inclusive economies.
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 Bank Jago, 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://assets.jago.com/web-assets/public/Sustainability Report – 2024.pdf
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