ESG and Sustainability

Conister Bank is driven to create an impact.

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The financial sector's growing emphasis on sustainability propels our progress forward. We remain unwavering in our commitment to diminish our carbon footprint and bolster our business's environmental responsibility.

At Conister Bank, our sustainability initiatives stand on solid commercial ground. We recognise and embrace the pivotal role we play as a financial institution. Guided by the ethos that "every step forward matters", we concentrate on championing customer progress and enabling them to make greener choices and decisions.

We hold a firm belief that optimal long-term outcomes are cultivated by maintaining a harmonious balance between our customers, employees, shareholders, and external stakeholders. With climate change posing urgent challenges, the collective call for businesses and governments to transition to a zero-carbon economy is louder than ever.

We aim to support our community and collaborate with the Isle of Man Government in their quest to attain net zero emissions by 2050. Our commitment revolves around operating a responsible and sustainable business that champions eco-friendly practices. This dedication isn't newfound—it's deeply ingrained in our vision.

Download our ESG Report

Business Sustainability Group

Conister Bank and the Isle of Man Chamber of Commerce co-founded the Business Sustainability Group to support Isle of Man businesses in transitioning to net-zero emissions. The group advocates for the Climate Change Bill and serves as a hub for businesses focused on sustainability providing platforms for knowledge sharing and promoting environmentally conscious initiatives.

What is ESG?

ESG stands for Environmental, Social, and Governance. These three pillars provide the framework influencing positive changes in society, encouraging businesses to be responsible and sustainable.

Conister Bank is leading from the front and aims to be a leader for the Isle of Man and the wider financial sector as a business that properly mitigates and responds to ESG risk and embraces the opportunities that being a sustainable and responsible business offers.

01  Opportunity

• Audit of the current situation
• Calculate Carbon Footprint

02  Strategy

• ESG Objectives
• ESG Tactics & Initiatives
• Establish core KPI’s, Measurement and Metrics to track progress
  
  

03  Action

• Integration of ESG into Conister Bank’s operations and Green Finance lending
• Integration of ESG into wider Manx Financial Group

04 - Review & Control

• Reviewing KPI’s, Measurement, and Metrics
• Staff & Customer Engagement
• Engage with TCFD, UNPRB, UNSDG, key market benchmarks

05 Restart Process

• Disclose results Financial and Annual Reporting
• Create a new strategy based on results

On-Going ESG Activities - 2021 Highlights

Environmental

Carbon footprint

o   We have undertaken our first carbon footprint measurement and aligned our reduction pathway with the Science-based Targets (SBTs) global initiative – ensuring global warming is limited to well below 1.5 degrees Celsius.

Recycling policy

o   We have introduced a recycling policy to minimise our waste generation and encourage reuse where possible. Our Green Team has introduced the Plastic Free July competition into the Douglas office – awarding prizes to the most conscientious savers.

Electric bikes

o   We continue to encourage sustainable commuting at Conister Bank. This has resulted in the introduction of an Electric Bike scheme launching in August, where we will be providing electric bicycles and training for colleagues who wish to decarbonise their commute.

Social

Customer engagement

o   As a community Bank, we pride ourselves on keeping our customers and our community at the heart of everything we do. Attending and sponsoring events like the ‘Royal Manx Agricultural Show’ and the ‘Home and Lifestyle Expo’ allows us to continue to support and engage with our customers directly.

Employee engagement

o   As part of our green initiative, all colleagues were delivered a presentation on the findings from our 2019 and 2020 carbon footprint performance. Everyone at Conister Bank was encouraged to get involved and provide suggestions on how we can further reduce our carbon impact.

o   Clara, Conister’s Head of Management was so encouraged by the Banks green initiatives that she has since set up a new kerbside recycling collection business on the Isle of Man – Recyclecollect.im – and continues to help Conister Bank develop our recycling initiative.

Governance

ESG integration

o   We take a top-down and bottom-up approach to ESG integration. ‘The Executive ESG Committee’ and ‘The Green Team’ have been established to maximise integration and create a clear hierarch of ESG responsibility levels. We understand that the key to ESG success is strong leadership and ensuring everyone is on board.

Reporting Frameworks, Standards, Benchmarks and Initiatives, and Global Commitments

The sustainability landscape has seen the evolution and expansion of new global frameworks, standards, and ratings. Conister Bank has chosen to align its ESG strategy with:

1. The United Nations Sustainable Development Goals (UN SDGs)
2. Taskforce for Climate-Related Financial Disclosures (TCFD)
3. United Nations Principles for Responsible Banking (UN PRB)

In combination these three frameworks provide Conister Bank’s ESG strategy with:

• A best practice approach to sustainable banking (UN PRB)
• Global ambition and aligned outcomes (UN SDG)
• International credibility and transparency (TCFD)