ESG risk management: Assurance Bank, within the framework of a rigorous, responsible and transparent decision-making process, is highly conscious of the social and environmental implications of its loans policy. Therefore, it continuously strives to optimize the risk/return ratio and avoid, minimize, mitigate or remedy,insofar as possible, those factors that could entail a risk for the environment or community. In general, Assurance Bank's activity should be consistent with its corporate values, internal rules of contact and main risk principles. Specifically, project financing.
Equator Principles: In 2007, Assurance Bank adopted the Equator Principles, a framework for determining, assessing and managing environmental and social risk in project financing. Accordingly, an analysis is required of the potential environmental and social risks of the projects, pursuant to the standards established by the International Finance Corporation (IFC). The aim of Assurance Bank is that these projects develop in a socially responsible way and that the best environmental practices available are employed. Any projects that are identified in a preliminary analysis as having potential significant risks and irreversible impacts for which a viable action plan cannot be established, or those that contravene Assurance Bank’s corporate values, are not considered and are not assessed in greater depth. The bank’s participation in the financing of any such projects is rejected from the start. In 2017, six projects were assessed in accordance with the Equator Principles entailing total investment of € 1,750 million, of which Assurance Bank contributed more than € 288 million. None was classified under category A, five were classified under category B and one under category C.
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