|Date joined:||14 October, 2019|
|Initiatives:||Net Zero Banking Alliance and Principles for Responsible Banking|
Found in 1856, BCEE, the Luxembourg State and Savings Bank, is the doyen of the country’s financial institutions and one of the cornerstones of the financial community. BCEE’s assets are entirely owned by the Luxembourg State, making it the only major financial institution in the country without foreign shareholders. Today, BCEE is a full-fledged universal bank and offers the complete range of services that a national and international clientele can expect from its financial intermediary. The Bank has the largest network in the Grand Duchy and also plays an important role in the industry and the SME sectors. Furthermore, it is the most important lender to local authorities.
Summary of sustainability strategy
The Bank considers to be of the utmost importance to exercise its financing activity in favour of the various players of the economy in the respect of thorough ethical standards promoting the responsibility for the Bank to take into account the interests of all the relevant parties and stakeholders. These ethical standards include more particularly the responsibility of the Bank to promote the protection of the environment through the financing of initiatives and measures contributing to the fight against climate change. Besides, the Bank’s focus on environmental issues, its policy on social and governance issues has always been considered as being a top priority for its business model.