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The “WestLB Policy for Environmental and Social Issues” specifies the engagement of the Bank with regard to environmental and social issues and express the Bank’s intention to contribute to a sustainable development. They define subject and sector-related principles underlying the Bank’s commitment to comply with social and ecological standards. In this connection, the Bank follows, in particular, internationally recognized environmental and social standards. The Bank is committed to comply with these principles in its business activities. The Policy for Environmental and Social Issues apply to all business units of WestLB AG and to all transactions with national and international customers. Existing obligations resulting from its participation in national and international initiatives such as the Equator Principles remain valid.
WestLB has developed its Policy for Environmental and Social Issues involving non-governmental environment and development organisations as well as scientific groups. The cooperation was fruitful and focussed. The Policy for Environmental and Social Issues is an important outcome of the “Sustainability Dialogue Forum” founded in 2005 which takes place at regular intervals and is moderated by external and independent experts. Its members include representatives of WestLB and of other organisations such as: Deutsche Welthungerhilfe, Germanwatch, Südwind Institut, Urgewald, Wuppertal Institut and WWF.

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

WestLB is one of the leading banks financing activities in the energy sector. The energy sector is particularly capital intensive and undergoing change worldwide. The way electricity and heat is produced, but also the energy infrastructure which supports this will change fundamentally in the coming years. With respect to this situation, as well as to the debate in politics, business, the media and society on energy security and climate protection, WestLB has developed a minimum standard for financing business activities related to coal-fired power generation. The policy refers, for example, to aspects such as the efficiency of plants, considers options for the capture of CO2, sets minimum requirements, and also takes into account reputational risks.