Corporate Social Responsibility
To NIBC, Corporate Social Responsibility (CSR) means we act in a responsible, sensitive and sustainable manner. We recognise our actions may have an impact on society and the environment. Within our ability and limits, we wish to make a contribution towards a more sustainable society for future generations.
NIBC puts sustainability at the heart of its business. We aspire to adhere to the highest possible ethical and business standards in all our operations. Focusing on sound risk management, it is NIBC’s ambition to create value in a responsible manner for all our stakeholders, including clients, employees, shareholders and the communities we operate in.
NIBC seeks to contribute to the quality of life in the communities we operate in and beyond. We promote engagement of our employees in projects aimed at improving the lives of disadvantaged communities close to home or in less developed countries or regions across the world.
Policy framework
In 2008, NIBC continued implementing the three-year agenda of the Policy Framework for CSR activities adopted by the Managing Board in 2007. NIBC’s approach to CSR is based on three pillars: social citizenship, environmental sustainability and client interaction. NIBC’s strong commitment to sustainability was underlined in 2008 as our Chairman and CEO Jeroen Drost assumed direct responsibility for CSR and appointed a new experienced member to the Managing Board’s support staff who will help monitor and coordinate NIBC’s CSR policy. NIBC is focussed on - and constantly monitoring - aligning the practical activities of the business to its CSR vision.
Social citizenship
Being a responsible corporate citizen means taking care in how we act as an employer and remembering that our human capital is our most important asset. We aim to be a force for good in society by encouraging our employees to lend their time and expertise to projects in the community.
In 2008, NIBC employees took several initiatives to support the ‘Brewing entrepreneurship’ project. In cooperation with the Dutch charity Child at Venture, NIBC staff provided professional advice, training and financial support for young entrepreneurs in the Philippines who set up a seaside coffee bar on the beach of San José in a poor rural area on the island of Mindoro.
Aimed at stimulating entrepreneurship, this project has been NIBC’s biggest CSR initiative to date. In May, more than 25 employees participated in the Royal Ten Run in The Hague to raise money for Child at Venture, while dozens of participants in NIBC’s annual sports day also raised funds for Child at Venture. In addition, employees were given the option to convert their Christmas present into a donation to the charity.
Young financial talents participating in NIBC’s Analyst Program helped develop a business plan for the young entrepreneurs in the Philippines. Three analysts travelled to the Philippines in October and offered workshops on topics such as business options, service, hygiene and implementing a concrete action plan for the Bay Bees coffee shop, which opened in October. By setting up their own business, the young adults will develop professional skills, strengthen their self-confidence and shape their independent future.
In order to provide meaningful assistance to those who need it the most, NIBC matches 50% of any time or financial contributions our workforce makes towards charitable causes. Examples of this support in 2008 were the Dutch Elimu Mount Elgon foundation, an organisation that supports education projects in the Mount Elgon region of Kenya, and the Habitat for Humanity project; several NIBC employees travelled to Africa to help build homes and other community buildings, such as a school in a remote village in Ghana.
Elsewhere, NIBC continued to make contributions to various causes linked to Dutch heritage, such as the Mauritshuis museum in The Hague, where NIBC supports various projects among others the restoration of Rembrandt’s important painting ‘Saul and David’, and the Boijmans van Beuningen museum in Rotterdam. In addition, NIBC supported the John Adams Institute, an independent foundation based in Amsterdam dedicated to cultural exchange between the USA and the Netherlands, and the Ronald McDonald House in The Hague. NIBC also donated to Volwassenen, Kinderen en Stofwisselingsziekten and Stichting Zimbabwe Orphans Foundation.
Environmental sustainability
NIBC continued measuring all carbon dioxide emissions created by our activities (carbon footprint), including from lighting, heating and other energy use, as a first step toward reducing the direct impact of our operations. NIBC aims to become a carbon-neutral organisation by making meaningful reductions in CO2 emissions, in addition to carbon offsetting.
Our car leasing policy stimulates employees to choose cars in the A, B or C class, which are less polluting than other categories. NIBC also offers cash allowances for employees who choose not to participate in the lease programme and who use alternative means of transport.
Client interaction
The biggest impact NIBC has on society is through its interaction with clients by providing financial support and assistance for their activities. NIBC has introduced a range of measures to ensure this interaction does not negatively affect society or the environment.
Starting on 1 January 2008, NIBC applied the Equator Principles for its project finance business. The Equator Principles are the financial industry benchmark used to assess social and environmental risk in project financing, with the aim of encouraging responsible investment.
We trained our staff in this area and have made the Equator Principles an operational part of the NIBC business model.
A ‘CSR test’ is an integral part of the process of agreeing credit conditions with clients, requiring them to demonstrate CSR compliance before we release finance. NIBC also intends to demonstrate its commitment to sustainability through its expertise in renewable energy financing, where it is a market pioneer. In 2008, NIBC European Infrastructure Fund became a shareholder in Electrawinds Biostoom NV, the owner of a Belgian bio steam power plant.
