Creating value for our clients and society

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Banque Internationale à Luxembourg (BIL) has published its new non-financial report, prepared according to Global Reporting Initiative standards for the first time. This is an important part of the bank’s strategy, reaffirming a strong commitment to sustainable finance, which creates value for its clients and society.

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16/05/2022 |
  • 20220516 BIL sustainability report2021

Since its foundation in 1856, Banque Internationale à Luxembourg has been supporting the development of the economy, contributing to enhancing the country’s reputation. Collaboration with the local companies and development of the communities in which it operates are central to its sustainable development strategy. As the major challenges facing governments, businesses and individuals are global, BIL and its 2,000 employees are committed to a responsible economic transition and sustainable finance, in line with the Paris Agreements and United Nations Sustainable Development Goals.

“We are a Luxembourgish bank, with an international reach. Since its foundation in 1856, BIL has been contributing to Luxembourg’s development, helping its businesses and residents in their endeavours. We engage with our employees to transition towards sustainable and responsible finance, offering products and services that, together with our clients, enable us to have a positive impact and to prepare solid ground for future generations”, said Marcel Leyers, CEO of Banque Internationale à Luxembourg.

To combine performance at financial, environmental, social and governance levels, Banque Internationale à Luxembourg designed and launched its sustainable development strategy in 2021. This is built around the development of lasting products and services, employer responsibility, and BIL’s impact on the economy and communities in which it is present.

Offering responsible products and services

BIL is committed to developing products and services that create value for its clients while contributing to a responsible economic transition and sustainable finance. 2021 brought tangible progress in this respect. Four funds from the BIL Invest Patrimonial range were awarded LuxFLAG ESG certification in September. These funds combine the opportunities provided by financial markets with environmental, social and governance (ESG) requirements. Managed by experts, these turnkey diversified funds meet the needs of beginner and expert investors alike. With low minimum investment amounts, they can be accessed on any budget.

BIL also includes environmental consideration in its financing activity. The bank offers solutions – some of which are subsidised by the Luxembourg State – to help clients reduce their environmental impact. These include the renovation of homes and buildings, installation of solar panels, and purchase of hybrid or electric vehicles.

Promoting well-being at work

In a constantly changing economic and professional setting, BIL places great emphasis on promoting the well-being of its staff, establishing inclusive working conditions, and encouraging skills development. BIL group has more than 1,800 members of staff in Luxembourg, and over 2,000 when its international subsidiaries are included. 44% are women and 56% men, with 49 nationalities represented. The bank is convinced that diversity is a key factor in performance, promoting an inclusive culture based on shared values. It is a signatory to the Lëtzebuerg Diversity Charter, a national undertaking by organisations committed to promoting and managing diversity. Skills development and ongoing training are also central to its efforts. More than 25,720 hours of training were provided in 2021.

Having a positive impact on the world around us

BIL tries to have a positive impact on the communities in which it operates and is firmly committed to the development of sustainable finance. BIL signed the United Nations Principles for Responsible Banking (UN PRBs) in November 2021. Further proof of its commitment, the bank incorporated its sustainable investment approach into its investment portfolio in 2021. As at 31 December 2021, ESG bonds accounted for 10.5% of its portfolio, i.e. a total of EUR 800 million.

In addition to initiatives linked to its banking operations, BIL has introduced measures to reduce its environmental impact. For many years, the bank has been working to reduce its energy use. Waste management is also an important part of its work. BIL follows the waste management approach established by SDK, and has received SuperdrecksKëscht Fir Betriber (SDK) certification.

BIL also backs NGOs in education and healthcare. The bank supports no fewer than 16 organisations through donations and staff volunteering.

To read the 2021 non-financial report, please go to www.bil.com/sustainability

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