Case study: How RFHL 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.

RFHL is in the process of developing a stakeholder engagement plan aimed at creating a detailed list of stakeholders for the upcoming reporting cycle. RFHL is committed to engaging, collaborating, and partnering with all stakeholders as it moves forward. This engagement plan is being crafted by the GSU in collaboration with the GMC. The plan will assess all business areas to identify RFHL’s stakeholders and gather key information, including their levels of interest and influence, the frequency of communication, and their preferred communication channels. These identified channels will guide RFHL’s future interactions with each stakeholder group. This stakeholder engagement initiative will be part of the Group Materiality assessment.

As mentioned, a more detailed stakeholder list will be presented in the next reporting cycle. Below is a general summary of the types of stakeholders involved:

• Counterparts within the PRB, NZBA, and other relevant multilateral organizations such as UNDP, IDB, and others.
• RFHL operates a socially oriented Power to Make a Difference Programme, collaborating with various levels of government, diplomatic missions, corporate clients, members of Academia, international funding agencies/NGOs/CBOs, multilateral institutions, regional bodies like CARICOM and CDB, as well as its project partners.

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

In its 2023 PRB Reporting and Self-Assessment Template RFHL reports that it works with its clients and customers to encourage sustainable practices and enable sustainable economic activities as follows:

The following initiatives were implemented in 2022 and will continue into 2024:

1. 2022 Caribbean ESG/Sustainable Finance Conference – This event brought together RFHL’s stakeholders to enhance awareness and foster dialogue and action on ESG and sustainability issues relevant to the countries where RFHL operates.
2. Customer Outreach – Efforts to encourage and promote automation and digitalization among clients.
3. Client Engagement – Assisting clients in accessing funds from RFHL’s USD 200 million Climate Financing initiative.
4. Goal Setting – Establishing goals and targets for clients and stakeholders in each territory and subsidiary, aligned with their chosen Sustainable Development Goals (SDGs) and their priorities in the post-COVID landscape.
5. CSR Alignment – Ensuring that all corporate social responsibility (CSR) and philanthropic efforts are aligned with RFHL’s ESG and SDG strategies.
6. SMME Initiatives – Developing initiatives aimed at Small, Medium, and Micro Enterprises (SMMEs). RFHL has established the Centre for Business Innovation specifically to serve SMME clients, demonstrating its commitment to support their success in business.

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 RFHL, 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.rfhl.com/wp-content/uploads/2023/07/PRB-Reporting-and-Self-Assessment-2023.pdf

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