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ANNUAL REPORT 2015

MANAGEMENT DISCUSSION & ANALYSIS

11.0. CORPORATE SOCIAL RESPONSIBILITY

At Bank Audi, integrating social responsibility within our core business has been a growing step through engaging multiple stakeholders in the economic, social and environmental areas. In this respect, Management acknowledged the role of the Bank in spreading Corporate Social Responsibility (CSR) culture, and thus expanded CSR strategies to further reach key indicators of community interest by consulting inclusive stakeholders groups. Bank Audi organised an annual stakeholders panel grouping industry representatives, suppliers, regulatory bodies, correspondents, managers, employees and competitors, thus creating a communication sphere where the Bank’s strategy was assessed, ideas to enhance CSR nationally were proposed, and room for collaboration between stakeholders was identified.

The year 2015 was marked by major achievements related to Corporate Governance aimed at sustaining transparency. Bank Audi continued to comply with the ISO 26000 Social Responsibility standard, and reporting according to internationally recognised Global Reporting Initiative (GRI) G4 indicators. The Bank maintains its position as the first Lebanese Institution to join the GRI Organisational Stakeholders Network. Additionally, it pledged its commitment to the United Nations Global Compact (UNGC) 10 principles and participated in founding the UNGC Lebanon Network aiming at engaging other institutions to adhere.

Furthermore, community and human development projects helped maintain the Bank’s position as a non-discriminatory and equal opportunity employer of choice in the Lebanese private sector with empowerment to youth and entrepreneurs. Sustaining its commitment, Bank Audi collaborated with the ILO in a special project shedding the light on domestic workers, where respect for Human Rights was highlighted and embedded in day-to-day practices.

Similarly, and also aiming at engaging stakeholders, Bank Audi’s CSR unit organised two major competitions: the first initiated within the Human Development Pillar and targeted at university students, aimed at exposing the latter to the concept of Social Responsibility within corporations in general, and to Bank Audi’s CSR strategy. It inspired this particular stakeholder group to explore their creativity and innovative minds in order to set impactful CSR initiatives. The second competition was within the Environmental Protection Pillar and consisted in allowing school students to measure their households’ environmental impact and find means to reduce their energy consumption with the help of a microsite called “My Carbon Footprint”.

Again in the realm of Human Development, hosting more than 300 tenth graders for the Global Money Week and engaging them in Financial Literacy and compliances issues was devised as an annual uptake. Moreover, the employees’ community engagement through the corporate Volunteer Program reached out to over 3,500 beneficiaries and extended a helpful hand to numerous NGOs.

Aspiring to communicate on its progress in the field, Bank Audi’s CSR unit participated in major national and regional CSR conferences and workshops, thus becoming a benchmark among CSR practitioners. The various activities and different measures taken by Bank Audi are available in a separate CSR Report published and released on the Bank’s website, including further details on CSR-related projects and their effect on the Bank’s stakeholders and on society at large.

CSR PILLARS

  • corporate social responsibility

    CORPORATE GOVERNANCE

    Ethical conduct, compliance, anti-corruption, risk management, non-discrimination, Environmental & Social Management System (ESMS)
  • corporate social responsibility

    ECONOMIC DEVELOPMENT

    Product portfolio, economic performance, indirect economic impacts, procurement practices, market presence
  • corporate social responsibility

    COMMUNITY DEVELOPMENT

    Local community development, local community support
  • corporate social responsibility

    HUMAN DEVELOPMENT

    Employment practices, diversity & equal opportunity, training, education, talent development, external human development
  • corporate social responsibility

    ENVIRONMENTAL PROTECTION

    Emissions, effluents & waste, energy consumption, ESMS