Banco Votorantim is committed to establishing ethical, transparent and lasting relations across all areas of activity, considering the economic, social, environmental and human aspects in its processes.
According to Banco Votorantim, ‘Sustainability is the construction of the long-term relationship through actions targeting the economic wellbeing of society and the amplified management of risks and opportunities. These three pillars set the directions to be taken and are present in all the areas and businesses of the organization.
Aligned with these concepts, the key focal points of activity of the Institution related to the topic are: Financial Education, Impact of Activities, Business Sustainability and Social Responsibility.
Social and Environmental Sustainability and Responsibility Policy (PSRSA)
At the end of 2014, the Bank approved its Sustainability and Social Responsibility Policy. This policy guides the behavior of the companies of the Consolidado Econômico Financeiro Votorantim (Votorantim Economic and Financial Group), considering their specific needs and the legal and regulatory aspects to which they are subject.
The plan of action for implementation of the policy was put into practice in 2015 and in 1H16, observing the principles of proportionality, relevance and efficiency. The plan covers actions required for the adaptation of the organizational and operational structure of the institution, as well as the routines and the procedure to be executed in compliance with the guidelines of the policy, according to a schedule specified by the institution.
This plan is a continuous improvement process, with periodic survey of the need to include new shares and regular follow-up of progress in the Sustainability Committee and Board of Directors.
Adherence to the Equator Principles (voluntary commitment)
In June 2016, Banco Votorantim adhered to the Equator Principles, and is the fifth Brazilian bank to sign the international agreement which stipulates that banks must adopt a standardized methodology, with minimum environmental and social risk assessment and management criteria in the financing of projects, thus providing further assurance that they will be developed in a socially and environmentally responsible manner.
Preparation of the 1st inventory of emissions
In May.16 Banco Votorantim drafted its first Inventory of Greenhouse Gas (GHG) Emissions. This is the first step towards addressing the topic "climate change" at Banco Votorantim. Within the next few years we will be studying ways of diminishing our impact by reducing our emissions.
The third edition of the Panel took place in Jun.16 with Specialists and the Board of Executive Officers of Banco Votorantim. The event focused on the "Financial Sector and the transition to a low-carbon economy". The primary objective of the meeting was to engage leaders in the discussion of how climate change has an impact on the economy in general and the financial sector. Risks and business opportunities were discussed on the occasion.
Banco Votorantim is committed to promoting financial education in the relationship with its stakeholders. The “3rd National Financial Education Week” took place in May.16, in line with the initiative of the National Committee on Financial Education (CONEF) to promote the National Strategy for Financial Education (ENEF).
Corporate volunteering program and ColaborAtivos platform
Banco Votorantim launched its online volunteering platform in May 2016. This functionality is available on the intranet so that all employees interested in taking part in voluntary actions can sign up, exchange information on projects, and participate actively in the actions proposed by the Bank, or alternatively, register their own actions.
In 2016, the Bank’s companies supported 45 social projects in various areas of activity, setting aside around R$ 12 million reals.
In the cultural area, funds were earmarked for projects that involve the promotion of access to cultural experiences, the valorization of cultural heritage and educational development.
In the social area, funds were set aside for Municipal Funds for Children and Adolescents for projects that meet the demands in the area of childhood and adolescence aligned to the guidelines of ECA – Child and Adolescent Statute. Still in the social area, funds were also invested in entities that promote improved quality of life and health of elderly people through the Municipal Funds of Elderly Rights.
In the area of sports, funding incentives were provided for projects which offers sports and educational activities to children and adolescents in a situation of social vulnerability, in addition to sport initiation events.
In the health sector, the Bank supported projects that seek to expand the service for preventing and fighting cancer and rehabilitation of disabled persons and technical training projects for health professionals.
Social and environmental risks
The social and environmental risk appraisal process is designed to subsidize the best credit decision. In 2015 the Social and environmental risk area carried out a series of activities, including:
- Improvement of Environmental Relevance Matrix and Environmental Risk indicators;
- Implementation of the social and environmental analysis process for Wholesale clients, CL/GL system - Limit Granting and Limit Management: it does not allow to establish limits of exploration and/or renewal if there is no environmental risk analysis from the client who proposed the limit;
- Implementation of basic guidelines for the appraisal of social and environmental risk referring to the homologation of suppliers;
- Implementation of a social and environmental process for property offered as collateral in wholesale operations;
- Implementation of the social and environmental analysis process for Project Finance operations;
- Inclusion of the Social and environmental risk area in the evaluation process of the social and environmental impact of new products and services.
Banco Votorantim’s annual report provides more information on this topic, as well as the institution’s key financial data and results.
Click here for the Annual Report.
Updated on November 10th, 2016