corporate social responsibility

At NIBC we believe we have a role to play in protecting the environment and promoting the sustainable development of our local communities. We are therefore committed to meeting the highest standards of responsible business practice in all areas of our operations. Our new Policy Framework for Corporate Social Responsibility (CSR) supports our commitment to sustainable growth and is central to current operations and future plans.

We also believe that responsible companies benefit an enhanced reputation, better employee recruitment and retention and increased customer recognition. To achieve financial success, NIBC intends to meet and exceed the CSR expectations of its clients, employees and society at large.

new policy framework

The Managing Board of NIBC has approved the Policy Framework for CSR activities, based around a three-year agenda from 2007 to 2009. This has been implemented by the CSR Committee, which includes members drawn from across the business and which works to keep NIBC's CSR vision closely aligned to the practical activities of the business.

The CSR Committee has co-ordinated and clarified the bank's desired approach to CSR, basing it on three pillars: client interaction, environmental sustainability, and social citizenship.

client interaction

The biggest impact NIBC has on society is through its interaction with clients by providing financial support and assistance for their activities. NIBC has introduced a range of measures to ensure the impact of this interaction does not have a negative effect on society or the environment.

In July 2007, the Managing Board approved the adoption of the Equator Principles for NIBC's project finance business as of January 1, 2008. The Equator Principles are the financial industry benchmark used to assess social and environmental risk in project financing, with the aim of encouraging responsible investments.

We have begun training our staff in this area and aim to make the Equator Principles an operational part of the NIBC business model. Our resources and expertise will be made available so that we can work together with our customers to implement the required guidelines.

A 'CSR test' has already become an integral part of the process of agreeing credit conditions with clients, requiring them to demonstrate CSR-compliance before NIBC releases finance. NIBC also intends to demonstrate its commitment to sustainability through its expertise in renewable energy financing where it is a market pioneer.

environmental sustainability

During 2007, NIBC started to measure the direct environmental impact of its operations and put targets in place to achieve a reduction. As a first step, during the summer, we began measuring all carbon dioxide emissions created by our activities, including from lighting, heating and other energy uses. NIBC aims to become a carbon-neutral organisation by making meaningful reductions in CO2 emissions, in addition to carbon offsetting.

We have also revised our car leasing policy to incentivise our employees to choose cars that cause a lower environmental impact. The policy is weighted towards less polluting cars, in the A, B or C class. Alternatively, employees will be offered cash allowances instead of running a car.

social citizenship

Being a responsible corporate citizen means taking care in how we act as an employer and remembering that our human capital is our most important asset. At NIBC, we aim to be a force for good in society by encouraging our employees to lend their expertise and time to projects in the local community.

We also believe many causes are worthy of our financial and in-kind support. Our community support initiatives are those that directly benefit our local communities and include sponsorships or the provision of time and expertise for sporting, educational, cultural or other charitable activities.

As a starting point for this policy going forward, we intend to mobilise and engage our workforce. We will do this by matching 50% of any time or financial contribution they make towards a charitable cause. This will enable our employees to provide more meaningful assistance to those who need it the most.

In addition to ad-hoc contributions to initiatives brought forward by our employees, NIBC will also select a number of initiatives on an annual basis, for which employees can volunteer to participate in.

At the same time, NIBC has also continued to make contributions to various causes linked to Dutch cultural heritage, such as the Mauritshuis art gallery and Stichting Philharmonic Fond, while children's charities such as the Ronald McDonald House in The Hague also received support.

The CSR Committee will be responsible for monitoring and improving our engagement in the community by periodically reviewing our sponsored initiatives and selection of projects. To achieve this we will ask all employees who receive support to report on a project's progress.