THE PATH TO THE SUSTAINABILITY REPORT
In the 2022 financial year, we accompanied RLB Tirol in preparing a sustainability report in accordance with GRI. The focus of the process was on supporting the materiality analysis. Through interactive workshops and a holistic consulting approach, RLB Tirol employees recognized the importance of sustainable transformation at all business levels.
For the 2023 financial year, we are supporting them in the transition to CSRD, particularly with regard to their core business, their value chain, as well as the opportunities and risks arising for RLB Tirol due to sustainability drivers. The goal is to implement the necessary processes within the company for the reporting obligation from 2026 onwards.
KEY FACTS ABOUT RLB TIROL
Business Area: Bank
Headquarters in Innsbruck with business address in Rum
438 employees (as of December 31, 2022)
Website: raiffeisen.at/tirol/
CHALLENGES DURING THE PROJECT
The preparation of the first sustainability report represents a complex challenge for most companies. Since RLB Tirol decided to draft its report directly in accordance with the GRI Standards, the bar was set very high from the outset.
A significant challenge consisted in integrating and aligning the already established processes and systems into the sustainability process for the GRI report. This required careful adjustment and coordination to ensure that the collected data met the high standards of the GRI guidelines.
Another central challenge faced by RLB Tirol, as with most other companies, was the efficient collection and management of data. Under the expert leadership of the dedicated sustainability manager, who coordinated the internal data collection, this challenge was successfully mastered.
The implementation of efficient data management within the company was of crucial importance in order to obtain the data on time and in the highest quality, and to formulate the report precisely in accordance with an integrated management approach. In this context, creating awareness of the importance of sustainable transformation and the sustainability report played a decisive role in fostering the willingness to cooperateamong the workforce. This conscious approach helped to create a positive dynamic for the integration of sustainability throughout the company.
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RLB Tirol as a Transformation Bank in Sustainable Banking
RLB Tirol set itself an ambitious goal by preparing its first sustainability report already in accordance with the GRI Standards. This milestone was successfully achieved and formed the basis for the ISS ESG rating. RLB Tirol received the coveted Prime Status and was awarded a grade of C. This success not only highlights the goals achieved but also demonstrates that sustainable action and transparent reporting bring not only recognition but also success. It strengthens understanding and support among employees and helps position RLB Tirol as a transformation bank in sustainable banking. For RLB Tirol, the path to sustainability is not only an obligation but also a guarantee of success for a future-oriented financial sector. This achievement underscores the importance and added value of a strategic and integrated approach to sustainable transformation in companies.
FROM MATERIAL TOPICS TO THE GRI-COMPLIANT SUSTAINABILITY REPORT
The Terra Institute supported RLB Tirol in conducting a comprehensive materiality analysis in accordance with the Global Reporting Initiative (GRI) Standards.
Our experts conducted a thorough context analysis to understand the overall framework of the organization in relation to global, regional, and industry-specific megatrends for sustainable development. In the system analysis, our focus was on uncovering the internal impacts of business activities.
The impact analysis was designed interactively in the form of two workshops. In the first workshop, together with representatives from various company departments, we identified, prioritized, and assessed the impacts on the environment, economy, and society. Our external perspective helped to ensure a balanced evaluation. The second workshop served to coordinate key topics and assign responsibilities. Here, particular focus was also placed on anchoring sustainability within the company.
Our process integrated not only internal assessments but also feedback from a comprehensive stakeholder surveyconducted by RLB Tirol. The key topics confirmed by the management board are now an integral part of RLB Tirol’s sustainability report, which was written by their dedicated sustainability manager.
RLB TIROL’S SUSTAINABILITY MANAGER CHARLOTTE DEWILDE ABOUT THE PROJECT
“Working with Terra Institute provides us with the opportunity to comprehensively understand and communicate our social and environmental impacts and governance practices. This partnership strengthens our commitment to transparency and our efforts toward a sustainable future.”
TERRA INSTITUTE CONSULTANT AND PROJECT MANAGER MARGIT HOLZHAMMER
Lawyer, long-time director of a hospital, CSR lecturer at various universities, and CSR and sustainability consultant at Terra Institute. Her focus industries are healthcare, banking, and tourism. Margit heads the Terra office in Innsbruck.
