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.
In 2022, the Bank launched an individual portfolio management service. In building an individual portfolio, the Bank prefers financial instruments that promote sustainability in line with ESG principles. Information on 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 Bank reflects its values, impact, and objectives in the areas of environmental protection, social responsibility, and governance in the Sustainability Report, which is prepared in accordance with the principles of the Global Reporting Initiative (GRI) and General Standards (GRI 2: General Disclosures).