Case study: How MCB works with its clients and customers to encourage sustainable practices
Established in 1838, with over one million individual and non-individual customers, MCB Limited is the leading bank in Mauritius and operates as part of the MCB Group Limited, which encompasses banking and non-banking subsidiaries and associates. MCB 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 Sustainability Report by MCB, 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 MCB proceeded with stakeholder identification and consultation, and
- How MCB 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.
MCB consistently engages with its key stakeholders through various channels to comprehend their requirements and address their needs. Numerous discussions and collaborations have taken place with MCB’s colleagues during the impact analysis process and the implementation of the principles.
MCB actively participated in working groups and training sessions with UNEP FI, alongside peer banks, to discuss, learn, and advance the implementation of the Principles for Responsible Banking.
In April 2023, MCB Group organised a Climate Conference for its clients, emphasizing the importance of adaptation and resilience in Mauritius. Additionally, focus workshops were conducted with clients to brainstorm and deliberate on climate issues in key sectors.
MCB also participated in committees and discussion groups with relevant authorities and institutions on topics such as climate change, circular economy, gender equality, and sustainable development.
Moreover, the Bank collaborated with industry experts to acquire knowledge and raise awareness among MCB’s colleagues, such as in the area of green building.
MCB participated in several webinars and forums focused on climate risks and sustainable financing.
How did MCB work with its clients and customers to encourage sustainable practices and enable sustainable economic activities?
In its 2023 Sustainability Report MCB reports that it works with its clients and customers to encourage sustainable practices and enable sustainable economic activities as follows:
MCB is dedicated to assisting its clients in their sustainability and transition endeavours, facilitating the adoption of sustainable practices. In April 2023, MCB released a sustainable finance framework that establishes the guiding principles for sustainable financing.
As part of the eligibility assessment procedure for Sustainable loans, MCB engages in regular discussions with clients to advise them on viable financing opportunities.
Furthermore, MCB is actively educating its client-facing team on various ESG (Environmental, Social, and Governance) topics to enhance awareness.
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), IEMA 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 MCB, 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://mcbgroup.com/docs/default-source/sustainability/mcb-group-sustainability-report-2023.pdf
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