CSR initiatives in Raiffeisen Bank, Luxembourg

CSR initiatives in Raiffeisen Bank, Luxembourg

CSR: Corporate Social Responsibility

Corporate Social Responsibility (CSR) is a voluntary approach to running a business with a concern for sustainable development, defined by Luxembourg’s national institute for sustainable development and corporate responsibility (INDR) as:

“Development that meets the needs of current generations without compromising the ability of future generations to meet theirs.”

Raiffeisen, Naturally Responsible

Banque Raiffeisen’s ambition is to offer high-quality products and services while building strong and lasting relationships with all its stakeholders, shareholders, customers, and partners. From the very beginning, the principle of sustainability has been an inherent part of the cooperative bank’s DNA. For Banque Raiffeisen, contributing positively to sustainability and thus to the welfare of its members and customers is a given.

ESG: Environmental, Social, and Governance Criteria

ESG is a concept closely related to CSR. The acronym ‘ESG’ stands for Environmental, Social, and Governance criteria, which allow for a company’s extra-financial analysis. With these criteria, it is possible to determine whether a company implements a socially responsible strategy, particularly in its behavior towards the environment and its stakeholders, including employees, partners, contractors, and customers.

Environmental Consciousness

Being at the heart of society means bearing responsibility for preserving our environment and what we pass on to future generations, not only in terms of ecology but also societal values.

EUR 1 Million for Members

The Bank had 33,937 members and made its members benefit from nearly 1 million euros in OPERA benefits—a unique reward and loyalty program in the financial market—amounting to around 5% of its annual consolidated income.

Banking Education

In collaboration with the ABBL, Raiffeisen Bank supported and participated in the ‘Woch vun Suen’ (money week). This event aims to raise preschool and primary school students’ awareness of money management in many schools across the country.

Health Week

As part of its health fortnight, the Bank invited its employees to practical workshops and conferences on health and well-being at work. The purpose was to raise their awareness of good practices in the context of their jobs and workplace.

Social Dimension

Raiffeisen allows each of its employees to reconcile professional and personal welfare through:

  • Diversity and Equal Opportunities
  • Lifelong Training Policy
  • Work-Life Balance

Fair Governance

  • OPERA Rewards for Members
  • Code of Conduct and Values Charter
  • Responsible Business Approach with a Respective Profitability Objective