Case study: How Banque SOCREDO works with its clients and customers to encourage sustainable practices
Banque SOCREDO is the foremost universal/retail bank in French Polynesia, commanding an estimated 40% to 50% market share. It caters to individuals (retail banking unit), MSMEs, corporations, associations, societies, public bodies, and publicly owned entities, offering dedicated loans, financial products and services. Banque SOCREDO 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 2023 PRB Reporting and Self-Assessment Template by Banque SOCREDO, 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
-
Subscribe for free and read the rest of this case study
Please subscribe to the SustainCase Newsletter to keep up to date with the latest sustainability news and gain access to over 2000 case studies. These case studies demonstrate how companies are dealing responsibly with their most important impacts, building trust with their stakeholders (Identify > Measure > Manage > Change).
With this case study you will see:
-
-
- How Banque SOCREDO proceeded with stakeholder identification and consultation, and
- How Banque SOCREDO worked with its clients and customers to encourage sustainable practices and enable sustainable economic activities
-
Already Subscribed? Type your email below and click submit
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 its sustainable development strategy, Banque SOCREDO actively engages with the following stakeholders:
- Shareholders: French Polynesia, Agence Française de Développement, and BRED. Each is dedicated to sustainable development and advocates a proactive approach. Sustainable development topics are regularly discussed during board meetings, whether when reviewing credit applications or following up on the bank’s global strategy.
- Employees: Consultation on the bank’s strategy through formal workshops, awareness raising on sustainable development issues, involvement in the implementation of the internal sustainable development program through a network of Sustainable Development Ambassadors (twenty-five employees with a particular interest in the issue).
- Clients: Dedicated meetings about Sustainable Development are held, previously through the Sustainable Development Analysis & Assessment system for credit applications from companies, and from the second half of 2023 under the new name of the MATIE tool for every credit request, whether from companies or private customers. The bank’s ESG officer may participate in client meetings for projects presenting the largest issues.
Aligned with its new strategy, the climate plan of French Polynesia, and to facilitate sustainable development in French Polynesia, Banque SOCREDO aims to consolidate its leading position among stakeholders, both locally and regionally.
How did Banque SOCREDO work with its clients and customers to encourage sustainable practices and enable sustainable economic activities?
In its 2023 PRB Reporting and Self-Assessment Template Banque SOCREDO reports that it works with its clients and customers to encourage sustainable practices and enable sustainable economic activities as follows:
Since 2021, Banque SOCREDO has implemented an exclusion list for several sectors. Additionally, the MATIE tool has been applicable to all eligible loan requests since the second half of 2023, providing an opportunity to discuss sustainability with Banque SOCREDO’s customers.
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 Banque SOCREDO, 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:
Note to Banque SOCREDO: With each case study we send out an email requesting a comment on this case study. If you have not received such an email please contact us.