Sustainability Report 2005
WestLB AG Publishes First Sustainability Report
WestLB AG today publishes its first sustainability report. The report is entitled "New Thinking. Sustainability Report 2005" and meets the highest standards of the "Global Reporting Initiative", the international guidelines for the preparation of sustainability reports. In the report the Bank stresses that, in addition to economic objectives, it pursues environmental and social objectives, and consequently these form an integral part of its business processes. By paying greater attention to social and environmental aspects in its business activities, WestLB strengthens its acceptance in the markets and in society. Moreover, the intensive dialogue with different interst groups means that trends can be recognised at an early stage, which can then also be used for the banking business.
The report describes the close dialogue between WestLB and the various interest groups and contains a review of its activities in the sustainability field. The report stems from a Managing Board resolution taken shortly after the repositioning of the Bank, according to which sustainability was to be integrated more strongly in the company's business culture, for example as a part of the risk management. Since then WestLB has sought a regular exchange of views with environmental and social groups. A dedicated Sustainability Management Department is responsible for coordinating and controlling sustainability activities throughout the Group.
WestLB will publish a sustainability report every two years.