First Local Sustainability Report
The crown of sustainable business initiatives
The first Local Sustainability Report represents the culmination of the bank’s work and commitment to sustainability, encompassing key events in this field from its establishment up to 2023. We take pride in every decision we have made, which has resulted in a business culture that emphasises sustainability and ethical practices.
First Local Sustainability Report for 2023 is published
Following the example of the ProCredit Group, which has been publishing the achievements of all member banks and the steps taken toward establishing sustainable business practices since 2016, ProCredit Bank Serbia has released its first non-financial report.
Sustainable business practices as a priority
ProCredit Bank Serbia has been operating in Serbia for over two decades, and throughout this time, we have focused on defining our goals regarding sustainable business and integrating them into our overall strategy and business policy.
We can rightfully say that sustainability is more than just our corporate culture — it the essence of what drives us!
ProCredit Sustainability Strategy: for the bank of the future
Keeping pace with the times: reducing environmental impact, integral to our business practices
Commitment to reducing environmental and climate impact is a key component of our Sustainability Strategy. We actively work to minimise our environmental footprint by implementing various measures, including monitoring and measuring CO2 emissions resulting from our business activities.
We continuously analyse emissions—such as electricity consumption, heating, and vehicle use (Scope 1 and 2 emissions) - to identify areas for improvement and implement effective emission reduction strategies. One of these measures involves increasing the use of electricity derived from renewable sources by investing in the development of our own photovoltaic systems and collaborating with clean
energy suppliers.
Reducing harmful gas emissions – purpose-driven mobility
As of 2023, 100% of our vehicle fleet consists of low-emission cars (electric, plug-in hybrid, and hybrid vehicles). We have also developed a network of electric vehicle chargers accessible to the general public to encourage the population to transition to more environmentally friendly vehicles and reduce harmful gas emissions.
We recognise that as a financial institution, we are not only responsible for reducing our own emissions but also for supporting our clients in their decarbonisation efforts (Scope 3 emissions, which arise from our lending portfolio).
If we take into consideration that micro, small, and medium-sized enterprises, entrepreneurs, and agricultural producers make up 90% of our portfolio, the responsibility and opportunity we face in environmental transition is clear. We have identified which clients in our portfolio contribute most to emissions and will actively support them in their efforts to minimise their environmental impact.
Goals of sustainable development and the 2030 Agenda
ProCredit Bank Serbia has formulated its sustainable development goals on the basis of the 2030 Agenda (United Nations Agenda for Sustainable Development), adopted at the summit held in September 2015. This Agenda includes 17 clearly defined goals, along with the following three dimensions of sustainable development:
- Economic growth
- Social inclusion
- Environmental protection
ProCredit Bank Serbia perceives its greatest contribution through several goals of the Agenda:
- Economic development - we contribute to environmentally and socially sustainable economic development in the countries in which we operate.
- Prudent credit risk management - in our lending operations, we strive to minimise potentially harmful economic, environmental, and social impacts.
- Sustainable financing - we apply an economically, socially, and environmentally inclusive approach to responsible financing and promote environmentally friendly investments.
- Corporate governance - our clearly defined values, guidelines, and organisational structures empower our employees to act responsibly and foster the trust that our clients place in us.
- Reliable partnerships and transparent services - we aim to build long-term, reliable, and stable partnerships with both enterprises and individuals alike.
- Technology and innovation – we promote digital transformation in our banking operations to provide secure and convenient services to our clients while maximising efficiency in our internal processes. This also contributes to environmental protection by reducing the use of resources.
- Internal environmental management - to minimise our negative impact on the environment, we continuously analyse and monitor impacts arising from our activities. Based on our analyses, the bank has invested in sustainable resource reduction solutions.
- Ethical values and working environment - we strive to promote a positive working environment characterised by diversity, a flat hierarchy, and open communication.
- Fair recruitment and employment practices – we have developed a transparent selection process complemented by fair opportunities for internal advancement and compensation to attract and retain the right employees.
- Employee development - we enhance employee capacities through comprehensive training in knowledge and skills, regular performance reviews, and clear career options.
Social impact of business: the bank as an active member of the community!
In addition to our environmental impact, the Sustainability Report also addresses the social impact of ProCredit Bank’s operations. The elements of social impact illustrate our commitment not only to economic success but also to making a positive difference in the broader community and society as a whole.
Purpose-driven business – best practices among our clients
The Sustainability Report features best practices among our clients, including those leading in innovation, empowering future leaders, and nurturing rural prosperity. In 2023, our business clients employed over 31,000 new hires, 40% of whom are women and 5% of whom are youth.
Employees as the foundation of our Sustainability Strategy
The commitment and motivation of our employees are crucial for achieving success - not only for our bank through the improvement of internal processes but also for our clients by strengthening partnerships and achieving long-term business results.
To keep pace with standards and achieve the goals that encompass business success on the one hand and principles of sustainability on the other, it is essential to identify and establish shared priorities. Only by working in synergy, with focus on the common good, can we achieve outstanding results and create a better future for all.
Sustainable business can drive change and ensure that we take steps in the right direction!
