Reflecting more than 100 years of commitment to our stakeholders and to Luxembourg society, Banque de Luxembourg is now part of the B Corp community, a robust and demanding certification. More than an end in itself, it is a pathway to guide us towards continuous improvement, with people at the heart of our concerns.
Read the interview with Florence Winfield-Pilotaz, Banque de Luxembourg's General Secretary and Head of CSR, and Amandine Galtier, Learning & Development Adviser and Ambassador for the Bank's Diversity, Equity and Inclusion Committee, in a special feature on ‘Sustainability’ in the financial magazine Paperjam:
The urgent need to address ecological and societal challenges is forcing companies to change their business models to reconcile economic performance, ecology and working for the common good. “Environmental, social and societal challenges are encouraging companies to take action and move towards a more virtuous business model," explains Florence Winfield-Pilotaz, General Secretary of Banque de Luxembourg and Head of CSR. “Governments cannot deal with this situation on their own. The necessary changes need everyone to make a concerted effort. As a bank, we are an integral part of this transition.” In response to this, Banque de Luxembourg is implementing an ambitious policy aimed at developing the positive impact of its activities with a long-term perspective.
Sustainability is part of our DNA
Banque de Luxembourg's social and societal commitment is nothing new. The Bank has always cultivated a people-focused mindset, that of a business conscious of its responsibilities. This long-term commitment is reflected in the voluntary work done by our employees, and the pro bono and financial support that the Bank offers its partners.
"Banque de Luxembourg has been committed to a responsible, long-term approach for many years, both in our relations with our stakeholders and in our investments. But we wanted to strengthen our engagement by creating a roadmap for continued improvement. So we decided to apply for B Corp certification and have our practices assessed. We are proud to have joined the B Corp community, which comprises 6,900 companies worldwide. We are aware that this is a demanding commitment, embodied in a long-term perspective," explains Banque de Luxembourg's General Secretary.
Founded in 2006 by three entrepreneurs in the United States, and now present in 91 countries, B Corp is a robust and ambitious certification process for companies wishing to reconcile their economic interests with the common good. B Corp’s mission is to use ‘business as a force for good’ by adopting a continuous improvement approach. B Lab, the NGO behind the movement, offers companies an assessment process, the ‘B Impact Assessment’, to measure their maturity in terms of societal and environmental impact, and monitor their progress. This assessment covers five pillars of impact: clients, employees, the community, governance and the environment. "B Corp's philosophy is to be transparent, not only about what we do well, but also about where we need to improve. This holistic and transparent approach particularly appealed to us," says Florence Winfield-Pilotaz.
In line with B Corp requirements, Banque de Luxembourg has amended its Articles of Association to include the notion of taking the public interest into consideration in all its actions. In signing a charter of interdependence between the Bank and the other certified companies, it also undertakes to participate actively in this community of pioneering companies who want to transform the economy and who encourage the sharing of advice and best practices.
However, nothing stands still. B Corp is a certification that is evolving over time, encouraging its community to keep raising the level of their commitments. It's an excellent way for companies to progress and a formidable tool for continuous improvement.
Putting people first
Banque de Luxembourg has always been committed to providing its employees with a working environment conducive to professional fulfilment, as was reflected in the high score obtained for the ‘employees’ pillar in the B Corp assessment.
Sustainability also means ensuring that our employees maintain their employability, notably through skills development. "We have restructured our HR policy to ensure fairness and transparency in career paths," explains Amandine Galtier, Learning & Development Adviser and Ambassador for the Bank's Diversity, Equity and Inclusion Committee. “Our aim is to enable everyone to develop their full potential, while continually adding to their knowledge and know-how in the collective interest.” In addition to the wide range of training opportunities it offers, the Bank promotes a dynamic internal mobility policy that is a real lever for development and motivation for employees of every profile, experience and age.
“Our responsibility goes far beyond developing skills. We also support employees at the end of their professional careers, through a dedicated programme called Sophia. This aims to support them at this important stage in their lives and facilitate the handover to ensure a shared positive experience."
Promoting diversity is an integral part of Banque de Luxembourg's values. First and foremost, priority is given to achieving a greater mix in decision-making bodies, in order to draw on a richer seam of opinions. "We have made good progress in this area over the past two years." The Bank is open to other diversity criteria, which translates into awareness-raising initiatives for employees. "We are committed to valuing differences and raising employees’ awareness. Notable in this respect was a ‘Diversity Pitch Day’ during which representatives of charities shared their experiences of non-inclusive behaviour in the professional world.”
"To capitalise on this diversity and ensure that everyone feels comfortable in their uniqueness, we need to be aware of our prejudices and biases in order to adopt inclusive behaviours. This is why we have trained our entire management team in this area, so that they can develop open and inclusive leadership skills.”
In addition, the Bank has reviewed its HR processes to guarantee equal access to managerial positions and training courses, and to ensure equal pay. The Bank has also improved the work-life balance of its employees by extending parental leave by 10 days for the second parent.
Professional fulfilment is also underpinned by a well-being and health programme, as well as personalised support at difficult times in a person's life (such as long-term illness, family difficulties and bereavement).
Mindful of the impact of its decisions on future generations, employer branding is another important feature of the Bank’s approach. “The new generation has very high expectations in this area," says Florence Winfield-Pilotaz. “They want a company that shares their values and is committed to the future.” ”
The urgent need to address ecological and societal challenges is forcing companies to change their business models to reconcile economic performance, ecology and working for the common good. “Environmental, social and societal challenges are encouraging companies to take action and move towards a more virtuous business model," explains David Schmidt, Managing Director of Banque de Luxembourg Belgium. “Governments cannot deal with this situation on their own. The necessary changes need everyone to make a concerted effort. As a bank, we are an integral part of this transition.” In response to this, Banque de Luxembourg is implementing an ambitious policy aimed at developing the positive impact of its activities with a long-term perspective.
Sustainability is part of our DNA
Banque de Luxembourg's social and societal commitment is nothing new. The Bank has always cultivated a people-focused mindset, that of a business conscious of its responsibilities. This long-term commitment is reflected in the voluntary investment of our employees, and the pro bono and financial support that the Bank offers its partners.
"Banque de Luxembourg has been committed to a responsible, long-term approach for many years, both in our relations with our stakeholders and in our investments. But we wanted to strengthen our engagement by creating a roadmap for continued improvement. So we decided to apply for B Corp certification and have our practices assessed. We are proud to have joined the B Corp community, which comprises 6,900 companies worldwide. We are aware that this is a demanding commitment, embodied in a long-term perspective," explains David Schmidt.
Founded in 2006 by three entrepreneurs in the United States, and now present in 91 countries, B Corp is a robust and ambitious certification process for companies wishing to reconcile their economic interests with the common good. B Corp’s mission is to use ‘business as a force for good’ by adopting a continuous improvement approach. B Lab, the NGO behind the movement, offers companies an assessment process, the ‘B Impact Assessment’, to measure their maturity in terms of societal and environmental impact, and monitor their progress. This assessment covers five pillars of impact: clients, employees, the community, governance and the environment. "B Corp's philosophy is to be transparent, not only about what we do well, but also about where we need to improve. This holistic and transparent approach particularly appealed to us," says David Schmidt.
In line with B Corp requirements, Banque de Luxembourg has amended its Articles of Association to include the notion of taking the public interest into consideration in all its actions. In signing a charter of interdependence between the Bank and the other certified companies, it also undertakes to participate actively in this community of pioneering companies who want to transform the economy and who encourage the sharing of advice and best practices.
However, nothing stands still. B Corp is a certification that is evolving over time, encouraging its community to keep raising the level of their commitments. It's an excellent way for companies to progress and a formidable tool for continuous improvement.
Putting people first
Banque de Luxembourg has always been committed to providing its employees with a working environment conducive to professional fulfilment, as was reflected in the high score obtained for the ‘employees’ pillar in the B Corp assessment.
Sustainability also means ensuring that our employees maintain their employability, notably through skills development. "We have restructured our HR policy to ensure fairness and transparency in career paths," explains David Schmidt. “Our aim is to enable everyone to develop their full potential, while continually adding to their knowledge and know-how in the collective interest.” In addition to the wide range of training opportunities it offers, Banque de Luxembourg promotes a dynamic internal mobility policy that is a real lever for development and motivation for employees of every profile, experience and age.
“Our responsibility goes far beyond developing skills. We also support employees at the end of their professional careers, through a dedicated programme called Sophia. This aims to support them at this important stage in their lives and facilitate the handover to ensure a shared positive experience."
Promoting diversity is an integral part of the values of Banque de Luxembourg. First and foremost, priority is given to achieving a greater mix in decision-making bodies, in order to draw on a richer seam of opinions. "We have made good progress in this area over the past two years." Banque de Luxembourg is open to other diversity criteria, which translates into awareness-raising initiatives for employees.
"To capitalise on this diversity and ensure that everyone feels comfortable in their uniqueness, we need to become aware of our prejudices and biases in order to adopt inclusive behaviours. This is why we have trained our entire management team in this area, so that they can develop open and inclusive leadership skills.”
In addition, the Bank has reviewed its HR processes to guarantee equal access to managerial positions and training courses, and to ensure pay equity. The Bank has also improved the work-life balance of its employees by extending parental leave by 10 days for the second parent.
Professional fulfilment is also underpinned by a well-being and health programme, as well as personalised support at difficult times in a person's life (such as long-term illness, family difficulties and bereavement).
Mindful of the impact of its decisions on future generations, employer branding is another important feature of the Bank’s approach. “The new generation has very high expectations in this area," says David Schmidt. “They want a company that shares their values and is committed to the future.” ”
