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.

Banco de Fomento Agropecuario (BFA) has identified its stakeholders as outlined in its Reputational Risk Management Policy.

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

In its 2022 Principles for Responsible Banking Reporting and Self-Assessment Template BFA reports that it works with its clients and customers to encourage sustainable practices and enable sustainable economic activities as follows:

As Banco de Fomento Agropecuario, BFA continues to collaborate closely with its clients:

• BFA broadened the scope of the FIDEAGRO Trust to include new categories such as livestock, minor species, vegetables, and fruits, in addition to basic income.
• BFA’s national presence has been extended through rural banks and financial co-responsibles. BFA is also exploring opportunities to establish new outlets in the United States.
• BFA is actively pursuing gender balance in its loan and deposit portfolios.
• BFA’s Sustainability policy outlines its commitment to promoting sustainable production practices among clients and their business models, to facilitate the transition towards a sustainable economy.

 

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 BFA, 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.bfa.gob.sv/wp-content/uploads/download-manager-files/Third-PRB-report.pdf

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