Sustainable development impacts every bank business line. Therefore, BIL conducts a double materiality assessment with the aim of identifying all material impacts, risks, and opportunities within the Bank. The objective is two-fold: to confirm that the Bank’s strategy and sustainability commitments are tackling issues that its stakeholders consider to be relevant and to identify any additional topics that are a priority for those stakeholders. The findings from this materiality assessment highlight key areas that are critical for the Bank’s operations and strategic direction, reflecting both current and anticipated effects on its business model.
The Bank recognises the increasing demand for sustainable client solutions, which impacts its service offerings and necessitates a shift in strategy to assist clients in transitioning to more sustainable practices. This commitment aligns with BIL’s dedication to conducting business responsibly while strategically growing to support the global economy.
Concurrently, BIL developed a transition plan to align itself to achieving net-zero by 2050 for its own operations and its lending portfolio. This ambition aligns with the global goal of limiting warming to 1.5°C, and BIL Group is actively working on developing comprehensive targets across all areas of its activities to ensure it meets this critical objective.
At BIL, managing Environmental, Social, and Governance (ESG) risks is a strategic priority embedded across our operations. In line with regulatory requirements and best practices, we integrate ESG considerations into our risk frameworks, governance structures, and product development processes. This approach ensures we identify and mitigate sustainability risks while aligning with our long-term business strategy and stakeholder expectations. Our commitment is supported by robust internal controls, transparent reporting, and a forward-looking risk culture that promotes resilience and accountability.
In response to evolving European regulations, banks are expected to demonstrate greater transparency regarding their sustainability impacts, aligning with the objectives of the 2015 Paris Agreement (COP21). BIL is actively adapting to these requirements through a structured approach that incorporates the latest regulatory developments.