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Current Topics

New Policy for Business Activities Related to Offshore Oil Drilling and Production

WestLB has developed a first-of-its-kind Policy for Business Activities Related to Offshore Oil Drilling and Production defining minimum standards und exclusion criteria. The policy applied to financings requires best available technology and highest safety management standards and practices (capacity, contingency plans, maintenance practice and cycles, training of staff, ongoing monitoring etc.); both must be confirmed by an independent third party. Furthermore a detailed description of insurance coverage for accident risks, remediation measures, associated costs etc. has to be provided. Financings of exploration or production activities within the Arctic and Antarctic region are excluded.

Revision WestLB Policy for Business Activities Related to Coal-Fired Power Generation

As a leading bank financing projects in the energy sector, WestLB feels especially committed to progressing the change towards a sustainability-oriented energy supply. This change requires high investments in the energy infrastructure, which must be made both within a short period of time and e aimed at achieving a balance between energy and energy security and climate protection. Against this background, WestLB has revised its, “Policy for Business Activities related to Coal-Fired Power Generation”. WestLB was the first large international bank to develop such a policy to define a minimum standard in 2009. Several major banks followed this approach and defined similar minimum criteria. With the current revision WestLB now defines more justifiably country groups for each of it different minimum or exclusion criteria exist and which are applied to financings. Now taken into account, for example, are greenhouse gas emissions per capita of a given country in relation to its gross domestic product and state of economic development (UN Human Development Index), but also its energy mix as well as the changes related to this.

WestLB Policy for Environmental and Social Issues

The Policy for Environmental and Social Issues forms the framework for our sustainability activities and has been mandatory for all business units and all new business since 2007. It is based on internationally accepted human and employee rights and environmental standards. In 2010, the Policy was revised in cooperation with the business units and with non-governmental organisations operating in the fields of environmental protection and development and finally approved and adopted by the Managing Board in April 2011. The revision focused on the updating of the underlying standards, the inclusion of a description of reputational management and of strategies for a critical and constructive dialogue with our clients to improve our sustainable business practice.

Existing obligations resulting from its participation in national and international initiatives such as the Equator Principles remain valid. 

Sustainability Management at a glance

Sustainability Management
For WestLB, sustainability management means minimising ecological and social risks and, through this, seizing economic opportunities and ensuring the Bank's continued growth. At the same time, we want to be a role model and contribute to the economically stable, ecologically responsible and socially fair development of our society. These objectives are integral elements of our corporate strategy.  More ...

Integrity
Clear rules and regulations oblige our employees to act in such a way that all national and international legal and regulatory requirements are fulfilled and WestLB’s ethical principles are supported.   More ...