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What is sustainable development and why is it important to BIL?

The concept of sustainable development was defined by the Brundtland Commission in 1987. This definition is as follows: “Sustainable development is development that meets the needs of the present without compromising the ability of future generations to meet their own needs.”

With this in mind, Banque Internationale à Luxembourg aims to hand over a responsible and sustainable bank to future generations. The bank understands the importance of integrating Environmental, Social and Governance (ESG) criteria into its fundamental goals and engaging all its stakeholders in this process. This is not simply a question of regulatory compliance but a conviction that BIL is asserting to develop its processes and thus generate a positive impact on its ecosystem. As a financial intermediary at the heart of the economy, BIL has the capacity to direct capital flows towards sustainable activities. BIL is aware of its responsibility in this regard and offers its clients products with a positive impact.

Alessandra Simonelli

Head of Sustainable Development

“We are an international bank that provides strong support to the local economy and communities. We are engaging with our employees to facilitate the transition to sustainable banking, conscious of our responsibilities and keen to develop products that allow us, together with our clients, to have a positive impact and build solid foundations for future generations.”

What the BIL group ESG strategy aims to achieve

As a major player in Luxembourg’s finance industry, Banque Internationale à Luxembourg is committed to building a sustainable and balanced economy. In 2021, the bank defined a sustainability strategy based on four pillars:

As a signatory to the UNEP FI (United Nations Environment Programme Finance Initiative) Principles for Responsible Banking and to the principles of the UN Global Compact, BIL is committed to working towards the goals of the United Nations 2030 Agenda for Sustainable Development. These goals address global environmental and social challenges and coordinate a collective plan to promote peace and prosperity while safeguarding the planet.

The Sustainable Development Goals (SDGs)

Although the 17 Sustainable Development Goals form a coherent whole and are all interlinked, BIL has decided to focus its impact on nine priority SDGs at corporate level, each linked to one of its four strategic pillars.