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CSR — or Corporate Social Responsibility — is a voluntary approach to running a business with a concern for sustainable development and is defined by Luxembourg’s national institute for sustainable development and corporate responsibility (INDR), as
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Banque Raiffeisen, the country’s leading cooperative financial institution, has published its second non-financial report. It is a key document highlighting the Bank’s sustainability strategy. Banque Raiffeisen aligns its initiatives with the “Sustainable Development Goals”, which address the needs of society to protect natural and economic resources, ensure environmental preservation and work towards a better ecological transition.
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Banque Raiffeisen's ambition is to offer high quality products and services while building strong and lasting relationships with all its stakeholders, shareholders, customers and partners.
From the very beginning, the principle of sustainability has been an inherent part of the cooperative bank's DNA.
Sustainability at Banque Raiffeisen - Interview Patrick Borschette
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ESG is a concept that is closely related to CSR. The acronym ‘ESG’ stands for Environmental, Social and Governance criteria, which allow for a company’s extra-financial analysis.
With these criteria, it is possible to find out whether a company implements a socially responsible strategy, and, in particular, how it behaves towards the environment and its stakeholders, in other words its employees, partners, contractors and customers.
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Being in the heart of society is tantamount to bearing responsibility towards preserving our environment and what we pass on to future generations, not only in terms of ecology, but also in terms of societal values.
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Raiffeisen allows each of its employees to reconcile professional and personal welfare.
- Diversity and Equal Opportunities
- Lifelong training policy
- Work-life balance
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- OPERA rewards for members
- Code of conduct and values charter
- Responsible business approach with a respective profitability objective
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On 31/12/2020, the Bank had 40,503 members. The Bank made its members benefit from nearly 1,2 million euros in OPERA benefits - a unique reward and loyalty programme on the financial market - i.e. around 6% of its annual income.
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In collaboration with the ABBL, Raiffeisen Bank was once again keen to support and take part in the ‘Woch vun Suen’ (money week). This event is aimed at raising preschool and primary school students’ awareness of money management in many schools across the country.
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As part of its health fortnight which took place in October 2019, the Bank invited its employees to practical workshops and conferences on health and well-being at work. The purpose was to raise their awareness of good practices in the context of their jobs and workplace.
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Banque Raiffeisen has just been awarded the ESR label by the INDR, the National Institute for Sustainable Development and CSR, in 2021, after an initial award in 2014 and again in 2017.
The label, awarded by the INDR, confirms that the Bank rolls out a social responsibility and sustainable development policy that complies with the INDR’s strict criteria for all three areas of CSR: Governance, Society and Equal Opportunities in the Workplace, and Environment.
In addition, Banque Raiffeisen has been a member of the IMS, Luxembourg’s leading corporate social responsibility network, since 2008.
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