|Date joined:||15 October, 2019|
|Initiatives:||Principles for Responsible Banking|
|Reports:||Apr 21 Apr 22|
The Bank of Ireland Group is a diversified Financial Services Group. Bank of Ireland, now a subsidiary of Bank of Ireland Group plc, was established in 1783 by Royal Charter. A traditional, relationship-driven retail and commercial bank with a conservative business philosophy, its strategic priorities are to:
– Transform the Bank – improving its culture, systems and business model;
– Serve customers brilliantly – by being the #1 for service; and,
– Grow sustainable profits – through growing its revenue and optimising its cost base.
The purpose is to enable its customers, colleagues and communities to thrive.
This purpose is underpinned by four key values which guide everything they say and do. These values are to be customer-focused, work as One Group One Team, be accountable and be agile.
Summary of sustainability strategy
Bank of Ireland Group views responsible and sustainable business as being at the core of its purpose, which is to enable customers, colleagues and communities to thrive. Bank of Ireland strive to make a positive contribution to these three groups, as well as working to ensure its operations are carried out in a way that reduces its impact on the environment.
Enabling customers to thrive
At Bank of Ireland Group, enabling its customers to thrive means listening to customers and responding to their needs, treating them fairly, and keeping their information secure. Bank of Ireland also want to have a positive impact on their lives by supporting their financial well-being throughout their lifetime and supporting them to make environmentally conscious decisions. That is why Bank of Ireland launched a multiyear Financial Well-being Programme, which helps customers improve their financial literacy, capability and confidence and place particular emphasis on ensuring that the Bank is inclusive of its more vulnerable customers through its dedicated Vulnerable Customer Unit. To support its customers’ transition to a more energy efficient and sustainable future, Bank of Ireland launched its Sustainable Finance Fund in July 2019.
Enabling colleagues to thrive
Bank of Ireland is committed to enabling each colleague to thrive – ensuring they are engaged, have the skills and capabilities to serve its customers brilliantly and are part of an inclusive and diverse workplace so they can perform to their full potential and reflect the diverse communities in they live and work. To achieve its ambition and purpose and to embed its values, the Bank has embarked on a multi-year transformation of its culture.
Enabling communities to thrive
Bank of Ireland strives to make a positive impact in its communities through its commercial, sponsorship, charitable and community-focused initiatives. Its financial well-being programme supports communities throughout Ireland specifically addressing the youth, seniors and business communities. Its enterprise programme also plays an important role helping businesses and community across Ireland to grow. In addition, the Bank encourages its colleagues to exercise good corporate citizenship by getting involved with local and national organisations focused on promoting the business, economic, social and cultural life of the communities they serve. In 2018 its total community investment, which included its charity investment programme, enterprise initiatives, community sponsorships and financial well-being programmes was €4.9 million with an additional €1.4 million given by its colleagues and 1,396 days volunteered.
Bank of Ireland recognises its responsibility to manage and reduce its own impact on the environment. In May 2018, the Bank signed up to the Low Carbon Pledge to reduce its carbon emissions intensity by 50% by 2030. This is the first collective public commitment by Irish business to lead the transition to a low-carbon economy, and help Ireland achieve its international commitments under the Paris Climate Agreement. The entire Bank of Ireland Group is certified to ISO 14001 and ISO 50001.