At GFF we structure our environmental, social, and governance (ESG) priorities in an articulated model with four pillars of work.
During the implementation of the model, we act upon our employees, while also acting on communities around us through social investment, while also safeguarding the environment.
Likewise, generate development for our suppliers, with whom we also work on the offering of products and services, as well as client experience. We are also making headway in maximizing our positive impacts as a financial entity, with a focus on responsible banking.
Our model is dynamic and is watchful of changes in the business, the Group’s strategy, and in our context, including the expectations and needs of our different stakeholders.
This has been the case this year due to the impact of COVID-19, which we have addressed promptly, showing flexibility and enabling the resilience or our clients, employees, and other groups.
Also, as part of our response, we have updated our materiality analysis, integrating critical matters in our work schedule that this model reflects.
Through our operation, we have contributed to the Sustainable Development Goals, global priorities set forth by the United Nations to be attained by 2030. Likewise, we remain firmly committed to the United Nation’s Global Compact initiative, through the implementation of its 10 principles, which include work practices, respect to human rights, safeguarding the environment, and anti-corruption practices.
Below is our Sustainability model:
We have created a Regional Corporate Social Responsibility Committee (CSR), which is made up of a president and four member directors, one for each of our pillars. The Committee reviews the advancements in initiatives where the model is materialized; its members also lead the performance of their assigned pillar.
The results we constantly obtain are possible thanks to the commitment of all teams in all of our different subsidiaries and areas; working on sustainability is a Group-wide exercise for us.
Responsible Financial Group Strategy
Through our products and services, we are developing a banking model which contributes to the economic and social development, while at the same time safeguards the environment.
We seized the opportunities of contributing to a sustainable development, responding to the fight against climate change and inequality, which is especially critical in our region.
To that end, we work on the following commitments:
- Development of credit and savings products which make financial inclusion easier, especially for those groups who face the most difficulties, walking them through understanding them and using them responsibly.
- Make accessibility easier through the inclusive use of technology, which allows our clients to be taken care of at all times, and breaks down obstacles due to mobility, schedules, etc.
- Advancing good social and environmental practices for our commercial credit clients, especially through the implementation of SARAS (Environmental and Social Risks Management System), as well as with supporting our client’s understanding of sustainable practices.
- Support for entrepreneurs and SMEs, through financing, in order to contribute to the development of the markets in which we operate, their employment and their suppliers.
- Implementation of financial education initiatives, in order to support the development of children and young people and a financial culture within families.
- Strengthening the culture of sustainability within the Group, especially in the understanding of how one can cooperate from the business side.
- Working from all sectors and together with other agents on generating opportunities for responsible banking, including the investment market, with ESG criteria.
We will keep working on our commitments, always in line with the Principles for Responsible Banking (PRB), developed by the Financial Initiative of the United Nations Environment Programme (UNEP-FI), and a group of international leading banks.
Through lining up with the PRB, we become committed as a Group to respond from our business to emerging economies linked to sustainable development, as well as promoting positive impacts and mitigating negative impacts on society through banking activity.