At OLB
Sustainability is an integral component of our corporate DNA. The OLB Code of Conduct is a mandatory guideline for social, responsible and judicious behavior that applies to all employees.
Sustainability Compass
Our approach
For our clients
At OLB
Social responsibility
ESG publications
Sustainable finance disclosures
Forging ahead together.
Equal opportunities are a top priority for us; we strictly reject any kind of discrimination or denigration. Accordingly, we signed the Diversity Charter as early as 2015 to reaffirm our commitment to a diverse, multicultural and tolerant society.
Our Code of Conduct serves as an ethical compass for our day-to-day conduct. We are convinced that good corporate governance goes beyond compliance with statutory and regulatory requirements. Corporate culture and the personal integrity of those in positions of responsibility also play a decisive role. It is therefore important to us that all employees are aware of the Code and its content. .
The transformation towards a sustainable economy is a mission for the whole of society, a challenge to which we want to make an active contribution. Our business practices promote the 17 UN Sustainable Development Goals (SDGs) in a number of ways, most notably the following:
SDG 5: Achieve gender equality
Our contribution:
We take a firm stand against any form of discrimination. Our remuneration system rules out any discrimination on grounds of gender. In addition, we launched a new mentoring program for women in April 2022 to leverage the bank’s female potential for specialist and management roles.
We regard diversity as an opportunity which encourages us to take different perspectives, contribute varied experiences and constantly challenge our own assumptions, allowing us to evolve as members of society.
SDG 13: Take urgent action to combat climate change and its impacts
Our contribution:
Environmental protection and nature conservation are matters of particular concern to us, which is why we want to support clients in their ecological transformation as well as setting an example ourselves. Among other measures, we purchase electricity generated from 100% renewable energy sources.
On top of this, we are continuously improving our resource efficiency – for example, by eliminating paper from online banking and progressively digitizing our business processes.
How do our business activities affect the environment?
The impact of our own business operations on the environment is rather small relative to the effects arising from our role as a lender, financial advisor and financial market participant. According to initial estimates, the greenhouse gas (GHG) emissions generated by the company’s own business operations account for less than 1% of the loan portfolio’s GHG emissions.
As low as our own emissions may be, we are nevertheless keen to play our part. It is our aim to reduce our emissions and use any natural resources responsibly and with due regard for the environment. This also means reducing waste and favoring recycled solutions over disposable ones.
We are reducing our greenhouse gas emissions
The “GHG Protocol Corporate Standard” breaks a company’s greenhouse gas emissions down into the “Scope 1”, “Scope 2” and “Scope 3” categories. We have been measuring our environmental footprint, including the greenhouse gas emissions associated with our own business operations, for a number of years now.
| Scope |
Emissions |
Emissions in 2022* |
∆ in % |
|
| 1 | 2.233 | 2.055 | -8% | Scope 1 refers to the direct release of emissions, primarily from heating energy. At OLB, 100% of this energy is generated from natural gas. Although the reduction is partly an indirect result of our strategic cut in the number of branches in the course of progressive digitization, it is also due to our active energy efficiency measures at the remaining branches. |
| 2 | 4.320 | 2.813 | -35% | Scope 2 covers the indirect release of emissions calculated for a specific site, in particular the emissions arising from electricity generation. With energy-efficient LED technology increasingly being used in the renovations and conversions that regularly take place across our entire branch network, energy savings are continually rising. Given that we cover 100% of our electricity requirements with certified hydroelectric power, the gross volume of our greenhouse gas emissions as calculated on a market basis is 0.0 metric tons of carbon equivalent. |
| 3 | 1.678 | 1.176 | -30% | Scope 3 comprises other indirect emissions releases arising up and down the value chain or, for instance, from business trips. We have specifically reduced the associated emissions by expanding the role of videoconferencing systems, which are now often replacing business trips. Where business travel is unavoidable, preference will be given to rail transport rather than car or air travel. |
* Greenhouse gas emissions in tons of carbon equivalent
Cooperation with PLANT-MY-TREE®
Trees are real multi-talents: They produce oxygen, provide a habitat and food source for many animal species, offer shade and filter dust all at the same time. Forests are also good for our well-being. What’s more, as carbon sequesters, trees slow down climate change and make an important contribution to climate change mitigation.
In the context of our sustainability activities, we also sponsor reforestation projects operated by the non-profit PLANT-MY-TREE foundation. In 2023, we sponsored around 25,000 seedlings for mixed woodland reforestation within the framework of our climate partnership with the foundation.
Depending on its species, a single tree compensates for an average of 130 kg of carbon dioxide in its first 20 years of life. Our seedlings will thus remove more than 3,000 tons of carbon dioxide from the atmosphere during this time, making our cooperation with PLANT-MY-TREE® a quantifiable, sustainable and active contribution to climate protection.
We raise awareness of sustainability issues
Sustainability is a complex subject. Raising awareness and promoting greater understanding of sustainability issues is a mission for the whole of society. To this end, we have launched a general in-house sustainability training program on our digital learning platform. All employees have access to the program which draws on the 17 UN Sustainable Development Goals to raise awareness of the issue. Our learning platform also offers training modules on health management and resilience building, to name just a few.
- Award-winning iQ digital learning platform
- > 200 e-training modules with an average completion time of 50 minutes
- > 16,000 hours of advanced training in 2022
Further information on the awards is available here:
OLB goes paperless
As part of our “OLB goes paperless” initiative, we are aiming to achieve a significant 30% cut in paper consumption in 2023. We are thus stepping up a process that was launched some time ago with the introduction of the electronic mailbox. Since its establishment in 2011, we have made significant savings in printing and mailing costs.
The widespread use of eSignPads since 2017 also contributes to a further cut in paper consumption. On top of this, our employees assume responsibility for the environment when they use the double-sided printing function of our modern printer facilities, or dispense with printouts altogether.
