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...in order to better understand their involvement in areas such as strategy setting, sustainability target setting, development of commercial offers and business deals, as well as the creation of methodologies and tools to measure impact and assess progress.
1. Define Group CSR Strategy
• Except for one, all banks indicated the responsibility of CSR team for defining the Group CSR strategy. One bank specified that its strategy is defined by the CSR department in collaboration with the Executive Committee.
• The bank that does not have the responsibility for the definition of the CSR Group Strategy specified that the CSR strategy is defined at group level by the HQ located outside the EU , with strong contribution of the bank due to stricter EU ESG requirements.
2. Define sustainable financing and or investing targets
• 10 banks responded that they are responsible for target settings.
•Two out of the 10 banks specified that the targets are defined in collaboration with other units (Business unit or in collaboration with CFO and the business units).
•Four banks indicated responsibility with departments other than the CSR (Sales & Risk, Business function, no-n EU HQ, CSR Committee, Wholesale Banking, WB Sustainable Finance, Retail Banking, and Business Banking departments).
3. NZBA portfolio alignment target setting
•In most banks (11), the responsibility for setting the NZBA portfolio alignment targets lies within the CSR team.
•One bank specified that it has established a working group consisting of the CSR team , which collaborates with the CRO, CFO, and business units. Another bank highlighted that the NZBA portfolio alignment targets are set in close cooperation with the Sales and Risk departments. Additionally, one bank indicated that the finance department drives the process, with several other departments involved.
•In the case of three banks, the responsibility for setting these targets is with different teams or bodies (e.g. CSR Committee, non-EU HQ given the absence of regional targets exist). The third bank specified that while they CSR team is not in charge of the NZBA target, they are responsible for setting validated Science based targets (SBTi)...
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Please consult the document for the survey results.