MANAGEMENT BOARD DISCUSSION: OUTLOOK AND THANKS
When the future of the planet is at stake, ambitious words alone are not enough – they must also be acted on. The Management Board of BANK IM BISTUM ESEN has no doubt that taking a holistic view of business, the nvironment and society is the only way to preserve the legacy we want to leave for coming generations. In this interview, the members of the Management Board talk about how this concept of sustainability is put into practice at BIB, why healthy trees are important for banks, and what customers of BIB can expect of the bank in 2013.
Mr Heidrich, last year BIB employees swapped a day at the office for a day in the woods and spent time planting trees together. What made you pick up your spade?
Heinz-Peter Heidrich: The idea was sparked by the children's initiative Plant for the Planet, which has set itself the goal of raising awareness for global justice and climate change among children and adults alike.
To what extent do we need growth in our woodlands in order for economic growth to be meaningful for society?
Heinz-Peter Heidrich: As we know, global warming is threatening the future of our planet. The production of carbon dioxide plays a key role in driving climate change. During the process of photosynthesis, trees absorb this CO2 and convert it into wood. This means that every tree we plant helps to protect the climate and give the Earth a future. Economic growth is only meaningful if we maintain a habitable environment for future generations.
Mr Sonnenschein, more and more politicians and businesses in Germany are trumpeting their actions as sustainable. Why is it important to make a commitment to sustainable structures in society, the economy and the environment?
Manfred Sonnenschein: Most people now accept that mankind only has a future if we give the pursuit and achievement of social and environmental goals the same level of importance as economic targets. The aim of reconciling these three aspects is to create a peaceful society where social tension is resolved civilly, natural resources are only utilised to the extent that they can be regenerated and economic activities take the interests of future generations into account.
Sustainability is a big word which many people do not fully understand. What does BIB mean when it says that sustainability is part of its corporate philosophy?
Manfred Sonnenschein: We really do need to be careful that sustainability doesn't remain just a big word, become an empty buzzword or get abused for marketing purposes. With our slogan, FairBanking, we want to show that sustainability is integrated into our business model. For us, this means treating all of our bank's stakeholders fairly, i.e. members customers, employees, the environment and society. As a church bank, we are also committed to upholding the churches' social statement and the papal social encyclicals, the most recent of which was entitled 'Caritas in Veritate'.
Mr Mintrop, BIB's workforce and customer base grows a little each year, apparently unaffected by the ups and downs of the economic situation. Is this a sign that more and more people are realising the importance of responsible, sustainable business practices rather than quick profits?
Johannes Mintrop: It is now clear that the financial sector can pose a great danger for society. However, more and more people are also realising that it is important to manage their own money responsibly. A growing number of people are therefore looking for ethical banks so that they can invest their money responsibly. 0.25 per cent more or less interest doesn't matter to these people. What matters to them is that their money isn't used for speculating irresponsibly, e.g. on food. This changing attitude in society is having a positive impact on business developments at our bank.
BANK IM BISTUM ESSEN has to think short term in some ways though too. What targets did you set for the new year and what do you hope to see happen in 2013, Mr Heidrich?
Heinz-Peter Heidrich: That's true. Keynes once said: »In the long run we're all dead.« That said, our corporate policy has stayed exactly the same: in 2013, we still want to offer services and products that help customers and society in general, and that are also profitable for us. In concrete terms, that means we will invest in people and their expertise so that we can make further improvements to our advice and service, and so that we can impress our clients with sustainable, innovative financial products.
When the future of the planet is at stake, ambitious words alone are not enough – they must also be acted on. The Management Board of BANK IM BISTUM ESEN has no doubt that taking a holistic view of business, the nvironment and society is the only way to preserve the legacy we want to leave for coming generations. In this interview, the members of the Management Board talk about how this concept of sustainability is put into practice at BIB, why healthy trees are important for banks, and what customers of BIB can expect of the bank in 2013.
Mr Heidrich, last year BIB employees swapped a day at the office for a day in the woods and spent time planting trees together. What made you pick up your spade?
Heinz-Peter Heidrich: The idea was sparked by the children's initiative Plant for the Planet, which has set itself the goal of raising awareness for global justice and climate change among children and adults alike.
To what extent do we need growth in our woodlands in order for economic growth to be meaningful for society?
Heinz-Peter Heidrich: As we know, global warming is threatening the future of our planet. The production of carbon dioxide plays a key role in driving climate change. During the process of photosynthesis, trees absorb this CO2 and convert it into wood. This means that every tree we plant helps to protect the climate and give the Earth a future. Economic growth is only meaningful if we maintain a habitable environment for future generations.
Mr Sonnenschein, more and more politicians and businesses in Germany are trumpeting their actions as sustainable. Why is it important to make a commitment to sustainable structures in society, the economy and the environment?
Manfred Sonnenschein: Most people now accept that mankind only has a future if we give the pursuit and achievement of social and environmental goals the same level of importance as economic targets. The aim of reconciling these three aspects is to create a peaceful society where social tension is resolved civilly, natural resources are only utilised to the extent that they can be regenerated and economic activities take the interests of future generations into account.
Sustainability is a big word which many people do not fully understand. What does BIB mean when it says that sustainability is part of its corporate philosophy?
Manfred Sonnenschein: We really do need to be careful that sustainability doesn't remain just a big word, become an empty buzzword or get abused for marketing purposes. With our slogan, FairBanking, we want to show that sustainability is integrated into our business model. For us, this means treating all of our bank's stakeholders fairly, i.e. members customers, employees, the environment and society. As a church bank, we are also committed to upholding the churches' social statement and the papal social encyclicals, the most recent of which was entitled 'Caritas in Veritate'.
Mr Mintrop, BIB's workforce and customer base grows a little each year, apparently unaffected by the ups and downs of the economic situation. Is this a sign that more and more people are realising the importance of responsible, sustainable business practices rather than quick profits?
Johannes Mintrop: It is now clear that the financial sector can pose a great danger for society. However, more and more people are also realising that it is important to manage their own money responsibly. A growing number of people are therefore looking for ethical banks so that they can invest their money responsibly. 0.25 per cent more or less interest doesn't matter to these people. What matters to them is that their money isn't used for speculating irresponsibly, e.g. on food. This changing attitude in society is having a positive impact on business developments at our bank.
BANK IM BISTUM ESSEN has to think short term in some ways though too. What targets did you set for the new year and what do you hope to see happen in 2013, Mr Heidrich?
Heinz-Peter Heidrich: That's true. Keynes once said: »In the long run we're all dead.« That said, our corporate policy has stayed exactly the same: in 2013, we still want to offer services and products that help customers and society in general, and that are also profitable for us. In concrete terms, that means we will invest in people and their expertise so that we can make further improvements to our advice and service, and so that we can impress our clients with sustainable, innovative financial products.