Rietumu Banka acknowledges and takes into consideration the importance of questions related to environmental, social and governance (ESG) issues when moving towards its goal – providing premium quality service, our personalized and client-oriented approach that allows to devise and offer tailored financial solutions for every client meeting his/her business needs and personal requirements.

Strategic ESG tasks are set together by the Board and nominated ESG officer, who is in charge of implementation of those in collaboration with other structural units of the Bank. The Bank realizes wholistic approach towards ESG-related matters, which is being reviewed and improved regularly.

The vast majority of business decisions are already made keeping ESG context in mind– this way the impact of ESG risks is being accounted for, while the risks themselves are being integrated in the internal control system of the Bank. Besides that, as a part of ongoing internal control system improvement, the logic of decision making undergoes review aiming at implementation of new risk management methods including the ones encompassing ESG topics.

All senior managers of Rietumu Banka are aware of their own and their teams’ responsibilities related to implementation of and adherence to ESG-related policies and best practices, while the top managers of the Bank undergo specific education on Sustainable finance provided by one of the world’s most accredited universities.

Apart from internal policies and best practices Rietumu Banka also adheres to the following international standards and recommendations:

  • UN Sustainable development goals
  • UN Principles of Responsible Investments
  • UN Environment programme Finance initiative
  • ECB Guide on climate-related and environmental risks
  • European Pillar Social Rights Action Plan
  • OECD Anti-Bribery and Corruption Guidance
  • BIS Climate-related risk drivers and their transmission channels