True to its values as a cooperative bank which is close to and attentive to its clients, Banque Raiffeisen has continued its responsible and civic-minded strategy in favour of the fight against global warming and social inequalities. The development of its ESG services and products is part of this strategy.
A responsible and civic-minded approach
As of 2019, Banque Raiffeisen has adhered to the UN Environment Programme Finance Initiative Principles for Responsible Banking (UNEP FI PRB) integrated into the UN Sustainable Development Programme. Since then, Raiffeisen has continued its efforts in line with the Paris Agreements and the United Nations Sustainable Development Goals (SDGs). In this context, Banque Raiffeisen, which was awarded the ESR label for the third time by the National Institute for Sustainable Development (INDR) in 2021, has continued to develop its range of ESG (Environment, Social, Governance) products and services. Its approach focuses on three key areas: the Bank itself, thanks to its internal initiatives and the commitment of its employees; the working environment; and the range of services and products offered to clients, as well as products which contribute to the financing of the transition towards a more sustainable economy.
Sustainable investments: Adapted formulas that respond to the needs and expectations of clients
Based on internationally recognised labels, Banque Raiffeisen’s ESG range aims to provide sustainable and responsible products and services, accessible to all client profiles in line with their needs, objectives, and requirements. This range of products and services is aimed at clients who are at least as concerned about the environmental or social impact of their investments as they are about their returns. Responsible and sustainable financial products generally perform in line with conventional products.
Banque Raiffeisen offers sustainable Visa credit cards
Also, with the aim of ensuring its ecological responsibility, Banque Raiffeisen has introduced a new range of sustainable Visa credit cards, unique in Luxembourg. These credit cards allow each cardholder to participate in the reforestation effort in Luxembourg and Bangladesh. For every 200th transaction made with one of these new sustainable Visa credit cards, Banque Raiffeisen has committed itself since March 2021, in partnership with the “Hëllef fir d’Natur” Foundation of “natur&ëmwelt” and the NGO “Friendship Luxembourg”, to plant a tree in Luxembourg or Bangladesh, with a total of at least 15,000 trees per year. This initiative allows Banque Raiffeisen to make an ecological contribution, out of awareness of the global problem.
To increase the impact of the operation and the number of trees to be planted, each of the Bank’s more than 43,000 OPERA members is invited to make a personal contribution by exchanging 1,000 OPERA points for the planting of an additional tree.
With R-Eco, Banque Raiffeisen offers a personal loan which is ecological and sustainable
Banque Raiffeisen also offers its customers a personal loan, R-Eco, which focuses on financing a project to reduce the energy consumption of a home or the purchase of a new low-emission vehicle. The R-Eco loan is characterised by: an amount of up to EUR 50,000, a repayment period of between 12 and 60 months with constant monthly payments based on a very attractive fixed rate, deductible interest costs as a special expense together with premiums and contributions paid to private insurance companies and the possibility of taking out balance of payments insurance.
Publication of the first extra-financial report in line with sustainability objectives
In June 2021, Banque Raiffeisen published its first extra-financial report that meets the highest and most recognised standards in terms of extra-financial reporting, namely the Global Reporting Initiative (GRI). It is a key document which reinforces, highlights, and illustrates the Bank’s sustainability strategy. Banque Raiffeisen aligns its initiatives with the Sustainable Development Goals (SDG), which address the needs of society to, among other things, have a positive social impact, enhance transparency and governance, protect natural and economic resources, ensure the preservation of the environment and work towards a better ecological transition.
Contact:
Sarah Melcher
T +352 2450 2524