OTP Bank Romania announces its plans in strengthening its sustainability culture by implementing this year a new strategic framework designed to embed Environment, Social and Governance (ESG) best practices across the company, with final scope of supporting sustainable economic increase and improving the life quality for present and future generations.
With a dedicated team overseeing the ESG strategy development and implementation, the organization is committed to investing in required resources to achieve this objective alongside with agile transformation organic growth plan. The OTP Bank ESG strategy will focus on three key pillars: product, planet, people, described in 3 areas of responsibilities:
- Responsible provider: aiming to finance gradual transition to a low-carbon economy and building a sustainable future offer of balanced financing options. This strategic direction is not only growing green credit portfolio but also continuing to invest in digital products and service channels, while keeping available traditional branches services for the clients’ categories that cannot use advanced digital tools.
- Responsible employer: aiming to develop active ESG management practices in governance model and further invest in employee well-being and development, inclusion, diversity and employee engagement.
- Responsible social actor: by setting ambitious environmental goals in terms of in-house ecology including reduction of GHG emission from own operations. Develop a positive social impact not only via responsible products and channels offering but also continuing CSR activities through OTP Bank Romania Foundation’s educational project thus creating shared value that is both measurable and makes recognizable contribution to society and UN Sustainable Development Goals.
“Recent social, economic, geopolitical and environmental turmoil, have raised the ESG agenda in the list of priorities, integrating respect for the planet and people as a central point in decision-making models and business strategy. OTP Bank is thoroughly analysing all implications to build an accurate, effective ESG strategy, in line with the company’s vision, wisely and deeply engaging the company’s portfolio. Both internally and externally, we focus on becoming green challengers on all targeted levels. People themselves become the new sustainability challengers. Our business will evolve, and we already started this process”, said Zoltán Balázs, CRO, Deputy CEO and ESG transformation catalyst for OTP Bank Romania.
Alongside with own ESG strategic transformation, OTP Bank Romania will continue identification and development of actions that can create sustainable communities involved in the economic, social and environment progress (employees, customers, partners and collaborators).
OTP Bank’s long-term investment plan in digitalization and customer experience, started in 2019, will continue while integrating the key pillars of the ESG strategy.
OTP Bank business model stands for an agile, proactive, modern, and customer-centered approach, in line with the organizational culture of the company.