ISO 14001 within the banking sector:
Zurich Cantonal Bank's success story
The ISO 14001 certificate has been awarded to one of the leading Swiss banks. The Zurich Cantonal Bank's environmental management system (EMS) passed the scrutiny of the auditors of the Swiss IQNet partner and was awarded the certificate in December 2002.
The auditors of the Swiss Association for Quality and Management Systems (SQS) commented in their final report that the structure and aims of environmental and sustainability management issues are fully operative and successfully implemented within the company. They particularly praised the ambition of the top management to regard sustainability as strategic key issue and to apply this within a systematically implemented EMS.
The Zurich Cantonal Bank has been committed to the environment since the early 1990's. The environmental impacts of the banking operations have been successfully minimized for many years and a number of environmental products have been available to the customers. Through a systematical screening of all the bank's activities and processes with regard to their potential environmental impact, a complex EMS was established within 15 months leading up to the cer-tification.
In contrast to other bank's environmental management systems the Zurich Cantonal Bank was committed to establish an EMS that included not only the traditional environmental activities of a bank, but also the many and very important impacts upon the environment that arise through financial products. Therefore, the EMS includes all activities that relate to offering financial products to customers. With this all-inclusive approach the Zurich Cantonal Bank takes the lead within the Swiss banking sector.
The bank's product range includes sustainable investment products, environmental loans and an environmental savings account. Through the environmental loans pioneering environmental projects such as super-energy-efficient construction, photovoltaic installations and the conver-sion to organic farming are supported. The bank is also reviewing every mortgage loan applica-tion with regards to environmental risks and returns in order to limit potential damages to the bank and to the client.
The Zurich Cantonal Bank has taken a pioneering role in many aspects of sustainable invest-ment too. For over six years, the bank's Environmental and Social Research Unit has been giv-ing investors the chance to include environmental and social criteria in their choice of invest-ment. A number of such sustainable investment products are offered to the bank's customers and a range of other Swiss banks. The ISO 14001 certification process gave new impetus for developing further products, like sustainable portfolio management mandates for private and institutional investors. The main emphasis of the EMS in coming years will be the development and increased sales of sustainable financial products.
Even though not part of the ISO 14001 requirements, the bank is regularly reporting on its envi-ronmental performance. Committed to sustainability reporting, the annual report includes de-tailed information and indicators on environmental and social issues. The top management is committed to continually improving the bank's environmental performance and regards the EMS as a key element of a comprehensive sustainability management. They are looking forward to a successful partnership with SQS.
Contact:
Mr Rene Wasmer
SQS - Switzerland
Zürcher Kantonalbank (ZKB) is Switzerland's largest cantonal bank, the third-largest Swiss bank and belongs to the group of the country's five largest portfolio managers.
As an independent public-law institution in the canton of Zurich, ZKB enjoys the privilege of a state guarantee.
It is the only major Swiss bank with a AAA rating by Standard & Poor's.
ZKB's workforce comprises 4293 employees.
www.zkb.ch/sustainability