Case study: How Erste Group 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.

Erste Group prioritizes open communication and collaboration with all its stakeholders to understand and fulfill their needs and expectations. This engagement is vital for sustained business success, especially in supporting the green transition and social inclusion initiatives. Adhering to its Code of Conduct, Erste Group actively fosters this open dialogue. Achieving ambitious sustainability and business goals necessitates close cooperation with these stakeholders.

Key stakeholder groups with whom Erste Group actively communicates include:

• Customers: Continuous engagement through relationship managers, advisory sessions, events, seminars, and a customer experience programme.
• Employees: Regular feedback and participation opportunities via the talent management programme, upward feedback mechanisms, the Intranet, CEO talks, and internal communication channels.
• Investors and Analysts: Communication through investor presentations, webcasts, bilateral discussions, road shows, and conferences.
• Supervisory and Regulatory Authorities: Ongoing, proactive dialogue at both national and European levels.
• Academic Institutions and NGOs: Content-focused discussions with academic institutions and environmental and social NGOs on topics such as climate change, physical risks, and other key social concerns.

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

In its 2023 Non-financial Report Erste Group reports that it works with its clients and customers to encourage sustainable practices and enable sustainable economic activities as follows:

Erste Group believes that sustainable finance benefits from widespread public awareness, entrepreneurial drive, and a good comprehension of this field.

To support its corporate clients, Erste Group has established specialized teams in several key markets, referred to in Austria as “Sustainable Finance Corporates”, to provide targeted advice.

As a practical example, Erste Group offers support for clients as they navigate the complexities involved in the renovation of buildings and residences. This assistance includes comprehensive information campaigns and the services of in-house expert teams, assisting and advising customers on a large variety of questions related to renovation. The teams have a wide range of expertise in their fields; from subsidies, to energy consulting. For example, Erste Group works with klimaaktiv, an initiative of the Federal Ministry for Climate Action, Environment, Energy, Mobility, Innovation and Technology.

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 Erste Group, 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.erstegroup.com/en/about-us/sustainability-esg

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