Climate Change Data

St. Georges Bank

Climate Impact & Sustainability Data (2022)

Reporting Period: 2022

Environmental Metrics

ESG Focus Areas

  • Climate Change Adaptation
  • Resource Efficiency & Circular Economy
  • Gender Equality
  • Financial Health and Inclusion

Environmental Achievements

  • Implemented ARAS 3.0 to evaluate credits with specific attention to climate risks; starting process for a consultancy to manage carbon footprint; plans to increase green portfolio by 10% annually; plans to reduce gender gaps in the value chain

Social Achievements

  • Implemented ARAS 3.0 to assess social risks; plans to expand relationships with women-owned businesses; plans to educate suppliers to improve gender equality performance; plans to develop products and services focused on women; creation of an Equity, Diversity and Inclusion policy; provided over 18,316 hours of employee training in 2022, including sustainability topics.

Governance Achievements

  • Implemented ARAS 3.0 for ESG risk management; developed sustainability policy; established governance guidelines focusing on sustainable development; created an ethics committee; modified committee structure to include a Portfolio Committee; held a sustainable Bootcamp for employees.

Climate Goals & Targets

Short-term Goals:
  • Increase green portfolio by 10% annually
  • Reduce gender gaps in the value chain

Environmental Challenges

  • Embedding PRB oversight into governance
  • Customer engagement
  • Getting started: where to start and what to focus on in the beginning
  • Data availability
  • Conducting an impact analysis
  • Prioritizing actions internally
Mitigation Strategies
  • Developing a robust governance structure for sustainability; implementing ARAS 3.0; creating a sustainability strategy; conducting impact analysis using UNEP FI's tool; developing action plans; employee training and engagement initiatives.

Supply Chain Management

Responsible Procurement
  • Expanding relationships with women-owned businesses; educating suppliers to improve performance in gender equality

Climate-Related Risks & Opportunities

Reporting Standards

Frameworks Used: UN Global Compact, Principles for Responsible Banking (PRB), Women's Empowerment Principles, Iniciativa de Género Panamá, UN Guiding Principles Reporting Framework

UN Sustainable Development Goals

  • SDG 1
  • SDG 4
  • SDG 5
  • SDG 8
  • SDG 10
  • SDG 12
  • SDG 13
  • SDG 17

The bank's products and services are focused on creating opportunities for productive segments and contributing to the fulfillment of these SDGs.

Sustainable Products & Innovation

  • Green products and services supporting transition to low-carbon economy