Corporate Social Responsibility and Sustainable Development Report 2018
ESG - the term stands for Environmental, Social, Governance. ESG refers to an approach that defines an appropriate model of organizational behaviour. Organizations that commit to this concept promise to focus on:
PRESERVATION OF THE ENVIRONMENT - thinking of greenhouse gas emissions, biodiversity, environmental pollution, conservation of natural resources, carbon dioxide emissions, renewable energy,
SOCIAL RESPONSIBILITY - thinking about employment habits, human rights, health and safety, the protection of different social groups,
GOOD GOVERNANCE - thinking about effective management, a perfect reputation, tackling corruption risks.
Baltic International Bank is focused on sustainable development at all levels of the Bank's activity, based on the ESG approach. More information about Bank's ESG approach is available here.
MANAGEMENT FOREWORD
"Self-respect as the Source of Trust"
Valeri Belokon, Chairperson of the Supervisory Board, the Bank’s shareholder
Key word of the 2018 ESG Report of the Baltic International Bank is “change”. This expressive word includes many various processes. You can find it in almost every page of the Report, apparently, characterising our Bank in 2018 the most. True, also this word described our operations the year before and in 2016 when we adopted the new Bank’s development strategy and commenced restructuration processes. Many new colleagues joined our team and they share their vision about the Bank’s development in this report.
"Responsible Succession"
Viktors Bolbats, Chairman of the Management Board
2018 has been a year of new pace, new energy for the Bank. Afterwards the founders of the Bank developed concept regarding important structural changes and new business strategy marking the end of the planning period (2016), implementation of the changes begun (2017).
SOCIAL RESPONSIBILITY AND SUSTAINABLE DEVELOPMENT OVERVIEW
Environmental Impact
Together with its customers, Baltic International Bank is implementing investment projects related to the promotion of the energy efficiency, investment projects connected with the renewable energy production and development.
Social responsibility
Our activity is based on the principles of social responsibility – the Bank actively initiates and participates in socially important events.
Corporate Governance
Care for the environment in which we live and socially responsible investment are becoming more common and voluminous.
CORPORATE GOVERNANCE
Dr. Hans Friedrich von Ploetz, Member of the Supervisory Board
Bankas finanšu ziņojums
Dace Helmane, Head of the Institute for Corporate Sustainability and Responsibility
"Importance of Good Governance in Businesses"
Andris Grafs, Director, Vice President Latvia, Baltic Institute of Corporate Governance
"Corporate governance trends in the Baltics"
COMPLIANCE AND RISK MANAGEMENT
Joseph Cofer Black, Member of the Supervisory Board
Anda Saukāne, Member of the Management Board
"Sustainable and responsible business requires continues investments into risk control and management"
Bogdan Andrushchenko, Member of the Management Board, Risk Director
"Potential of the Bank in Synergy of People and Technologies"
Natalija Boļšakova, Head of Compliance
"Mission: operations adhering to the letter and essence of legislation"
CHANGE MANAGEMENT
Viktors Bolbats, Chairman of the Management Board
"6 milestones in the development of the Bank"
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Ilona Gulchak, Deputy Chairperson of the Supervisory Board
"We are competing on the European level"
Guntars Reidzāns, Member of the Management BoardECONOMIC OUTLOOK AND TRENDS
Konstantins Goluzins, Head of Asset Management
"Current events in the global economy and financial markets"
Oto Davidovs, Head of Corporate Finance
"Current development trends in the Latvian economy"
SOCIAL RESPONSIBILITY
Ambitious reconstruction project in the heart of Old Riga
"Nine centuries in Kalēju Quarter"
Viktors Bolbats, Chairman of the Management Board
"CREATING THE FUTURE ENVIRONMENT:
DISCUSSION ON THE BUSINESS INVOLVEMENT
IN CULTURAL PROCESSES "
"5 Bank’s support directions"
Family, Literature, Spirituality, Healthy Lifestyle and Responsibility for the Socially Vulnerable.
ENVIRONMENTAL SUSTAINABILITY
Jekaterina Kuzņecov, Head of Strategic Planning
"Pillars of development – responsibility towards environment, good governance, involvement in society"
Olga Meļņičenko, Environmental expert in Sustainability index and Consultant at SIA Estonian, Latvian and Lithuanian Environment