CSR Handbook: A Practical Guide for Banks in Luxembourg
The following factsheets are the result of a collaboration between Forethix and the ABBL.
You are an ABBL member and would like to receive a consolidated version of the CSR Handbook? Please contact us.
Where do you stand in your CSR process? The ABBL provides you with a self-assessment tool to help you determine your organisation's current level of maturity and identify priority actions for improvement.
Sustainable Finance Glossary
The ABBL has developed an online Sustainable Finance Glossary to help its members navigate through the terms and acronyms related to corporate social responsibility and sustainable finance.
Facing the energy crisis
On 8 September 2022, the Luxembourg government presented the national campaign to reduce energy demand and appealed to the willingness of all actors to contribute to this collective effort. Companies were called upon to implement measures to reduce their consumption of natural gas and electricity with all means at their disposal. In this respect, the ABBL has set up a dedicated task force to elaborate best practices for banks and create a set of guidelines on energy savings for ABBL members. The proposed actions should be screened and assessed for their technical feasibility, taking account of the specificities of each of your managed buildings and facilities.
Introduction to the factsheets
Developed with ABBL members, the ABBL's practical guide to corporate social responsibility for banks sheds light on the foundations of a responsible strategy.
Factsheet 1: A common language
The players in the financial sector are not unaware of the importance of corporate social responsibility (CSR) in the context of initiatives, ambitions and regulations.
Factsheet 2: The normative framework of CSR
The normative context discussed below sets out the norms, standards and labels that you need to bear in mind in adopting a voluntary CSR initiative.
Factsheet 3: The regulatory context
Public authorities rely on normative frameworks and regulatory developments which increasingly articulate CSR requirements.
Factsheet 4: Governance and oversight
Defining the roles and responsibilities, as well as the CSR decision-making processes, is an essential step in the procedure for integrating CSR throughout the organisation.
Factsheet 5: Stakeholder engagement
The inclusion of stakeholders represents one of the fundamental principles underlying any corporate social responsibility (CSR) action.
Factsheet 6: Identification of the issues involved
Identifying and prioritising CSR themes is a step that needs to be taken, in accordance with international standards, before defining any CSR strategy.
Factsheet 7: Measurement and transparency indicators
Measuring performance, indicating the non-financial risks, objectives and progress, and then publishing a report covering those matters: these steps need to be taken.
Factsheet 8: Sustainable products and services
The products and services offered should take account of the environmental, social and societal factors and impacts and form an integral part of the undertaking's CSR strategy.