Case study: How Eurobank promotes a culture of responsible banking among its employees

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.

A core element of Eurobank’s sustainability approach is to build strong relationships founded on trust, cooperation, and mutual benefit with all stakeholders affected by its activities, whether directly or indirectly.

In this regard, the bank encourages two-way communication and maintains an ongoing dialogue with stakeholders to actively address their expectations, concerns, and issues. As part of its Double Materiality Assessment, Eurobank engaged stakeholders on topics related to its sustainability initiatives and responsible financing products, aligning with the Principles for Responsible Banking, to gather their insights on the bank’s sustainability performance. This assessment was a key process in determining the contents of the Annual Report 2024 – Business & Sustainability. Using the new methodology outlined in the European Sustainability Reporting Standards (2023), Eurobank identified, assessed, prioritized, and validated the positive and negative impacts, risks, and opportunities the bank creates or may create on the environment, people, and the economy.

Additionally, Eurobank conducts sustainability awareness training sessions to ensure internal stakeholders stay informed about sustainability matters.

How does Eurobank promote a culture of responsible banking among its employees?

In its 5th PRB Progress Statement Eurobank reports that it took the following actions to promote a culture of responsible banking among its employees:

Eurobank fosters a culture of sustainability by providing employees with the skills needed to assist clients in their green transition. Key initiatives include:

• ESG upskilling programs for employees, focusing on risk management, compliance, and business strategy.
• Training sessions for stakeholders across the three lines of defense to enhance sustainability awareness.
• Ongoing sustainability education through e-learning modules, digital talks, and intranet resources, ensuring staff stay updated on the latest sustainability developments.

Acknowledging the significance of cultivating a robust sustainability-oriented culture throughout the bank, Eurobank has initiated programs such as:

• The “TeamUp” employee volunteer program, which provides opportunities for employees and their families to engage in community-based environmental initiatives.
• The “ESG Insight” newsletter, delivering regular updates on Eurobank’s sustainability efforts to both internal and external stakeholders.

By integrating solid governance, accountability measures, and a sustainability-focused corporate culture, Eurobank ensures that sustainability principles remain a strategic priority, empowering employees and stakeholders to contribute to a responsible banking model that promotes positive environmental and social impacts.

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 Eurobank, 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.eurobank.gr/-/media/holding/omilos/annual-reports/etisios-apologismos-2024/unep-fi-principles-responsible-banking.pdf

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