Rietumu Banka consistently focuses on sustainability issues and actively continues to introduce ESG aspects in all the Bank's processes, products, and services in line with the Sustainability Roadmap for the Latvian Financial Sector developed by the Bank of Latvia.
Of the 17 goals set out in the UN 2030 Agenda for Sustainable Development, the Bank has identified priority goals that are within the Bank's direct scope of influence, focusing on employee health and wellbeing, social responsibility, care for the environment and the implementation of good governance principles:
The Bank implements a Sustainability Strategy that sets out specific measures and priorities in the areas of environment (E), social (S) and governance (G) (together, the ESG principles). The Sustainability management structure, comprising the ESG Working Group and the Sustainability Officer, ensures the implementation of sustainability measures and priorities in cooperation with the Bank's business units and stakeholders.
The Bank aims to promote a positive environmental impact of its products and services. ESG factors are assessed by risk analysts, and environmental, social, and sustainable development objectives are taken into consideration when granting loans.
The Bank provides an individual portfolio management service. The Bank's sustainable investment approach can be found at:
In its operations, Rietumu Banka complies with the laws, regulations, standards, and recommendations of the Republic of Latvia as well as international best practices. The Sustainability Report of the Bank and its Group for 2024 has been prepared for the period from January 2024 to December 2024.
The Sustainability Report of the Bank and its Group for 2024 has been prepared for the period from January 2024 to December 2024. This is the first sustainability performance report of the Group prepared by applying the requirements of the Sustainability Information Disclosure Law ensuing from the Corporate Sustainability Reporting Directive and the European Sustainability Reporting Standards. This report discloses information on the Group’s investment and achievements in the dimensions of corporate sustainability – the implementation of environmental, social responsibility and governance principles at all levels of operation, thereby promoting a sustainable financial culture.
Group is aware of the importance of the information contained in the Sustainability Report to our stakeholders, therefore we treat the obligation to disclose information with due care. The Sustainability Report is the consolidated and the Bank’s separate Sustainability Report covering the Group’s activities. The structure of the Group’s is provided in the general information section of the consolidated and the Bank’s separate annual report. In turn, the scope of the Sustainability Report includes JSC “Rietumu Banka” and its subsidiaries: “RB Investments” Ltd., “Vesetas 7” Ltd., “KI FUND” Ltd., “KI Zeme” Ltd., “KI Nekustamie īpašumi” Ltd., Rietumu Leasing Ltd., “InCREDIT GROUP” Ltd., KI Invest Ltd., “Euro Textile Group” Ltd., “RB Drošība” Ltd., “Second Sky Management” Ltd., the foundation “Nākotnes Atbalsta fonds”, RB Securities Limited, “Apella” Ltd.