Sustainability

Bear responsibility – assume responsibility

Companies that operate on the basis of sustainability are continuously more successful than others. The VP Bank Group avows the principle of sustainability.

As a financial services provider, the VP Bank Group is part of society. With our sustainability program, we contribute to the responsible handling of the world’s resources. A central element in this regard is ecological sustainability.

Sustainability measures

Negative eco-balance factors

Mobility program

Long-distance air travel is unavoidable during the build-up phase of VP Bank’s locations in the Middle and Far East; but it is possible to improve the ecological balance in short-distance travel. For that reason, the VP Bank Group has developed a mobility concept that was introduced in early 2008.

The heart of this concept takes the form of a graduated fee system for employee parking spaces. In addition, there are financial incentives aimed at motivating employees to use public transportation or establish carpools.

Paper and water consumption

It is VP Bank’s policy as a general rule to send out client asset statements only once a year, and to print/send daily or quarterly statements only at the express wish of the client. This has led to a considerable reduction in the use of paper for forms and vouchers. However, as a part of the introduction of Avaloq, the use of paper increased significantly at times. With the proper operation of the new banking software system, the use of paper will now also be reduced and return to its previous llevel. Due to this exceptional situation, the continuous decline seen in recent years has been interrupted.

Also, the physical sending of the Annual Report will be made only on special request.

VP Bank takes care to ensure that its publications – including our Annual Reports – are printed on environmentally certified paper. FSC (Forest Stewardship Council) certification guarantees that the paper used stems from wood harvested in exemplary, environmentally friendly forestry operations.

Water consumption decreased versus the previous year by 1,477 m3 to reach the lowest total since 2005.

Energy consumption

VP Bank Group ensures its responsible consumption of energy through numerous measures. Examples of this are the environmentally friendly manner in which the renovation of the Bank’s headquarters in Vaduz has been accomplished, as well as the newly constructed service center in Triesen, the use of geothermal energy for heating and cooling, motion-activated lighting in the Bank’s facilities, and the consistent furnishing of offices with flat-panel displays and energy-saving lamps.

As early as in 1995, a photovoltaic power generator was installed on the roof of the Bank’s Vaduz building. It supplies environmentally friendly energy that is fed into the power network of VP Bank. An extension of this solar energy solution to the service center in neighboring Triesen is currently being examined.

The differing types of buildings at VP Bank call for an overall concept that brings all of its Liechtenstein facilities up to the same level in terms of power technology. The goal of this concept is to harmonize all of the existing installations, optimize the distribution of power and efficiently exploit any ambient heat loss. To that end, energy flow meters were installed in 2009 in order to record and optimize the flows of energy from heating and cooling.

The evaluation is adjusted to take seasonal fluctuations into account. The results will become available in 2010 and flow into the measures for fine-tuning the Bank’s overall energy supply. Also, the new energy supply project foresees the use of cutting-edge technologies that enable warming on the basis of heat recovery. Plans are for the concept to be implemented over the next several years.

Since 2007, VP Bank has kept a CO2 balance sheet with the aim of becoming CO2-neutral. Included in this calculation are environmental pollutants as well as fuel and energy.

Waste avoidance

Ever since 2004, waste separation has been the order of the day at VP Bank: paper, glass, cardboard, Styrofoam, PET bottles and greenery clippings each have their own receptacles.

The total amount of waste generated in 2009 stood at 222.4 tons, almost 32 tons less than in the previous year.

Responsibility as an employer

VP Bank evidences its responsibility as an employer by fostering modern and attractive work conditions. Motivated, healthy employees have just as much influence as the actual physical office environment on the performance of each individual; and that in turn influences the success of the entire company.

VP Bank Group offers its employees a wide range of opportunities for training and continuing education, and also nurtures the compatibility of their business and family life. Special emphasis is placed on training young people in order to simplify their entry into the business world and give them a sense of what the future can hold. The private commitment of employees to public offices, schools of higher education, work groups and professional organizations is expressly ecouraged by VP Bank.

A "thirst for the new", as codified in the Bank’s corporate values, can be translated into reality by means of an "idea management" instrument.

For VP Bank Group, the satisfaction and health of its employees is of particular concern. To maintain and promote healthy attitudes and healthy bodies, the
VP Bank Sports Club organizes numerous activities that are either cost-free or available at sharply reduced prices.

Among those activities are Nordic walking, spinning, bowling, marathon-race training sessions, tennis courses, bike weekends, mountain boarding, skiing and athletics days. For those employees who come to work by bicycle or who exercise during their lunch break, showers and a complimentary towel service are available. In addition, especially nourishing meals are offered in the cafeterias.

Social and cultural commitment

VP Bank Foundation has a long tradition of financially supporting a wide array of charitable organizations, initiatives and projects in the areas of social services, disaster relief, health, education, culture, nature conservation and ecology.

The VP Bank Art Foundation was established in 1996 for the purpose of collecting works by international as well as regional artists. Its aim is to foster an understanding of art both within and outside the Bank. The acquired works can be viewed in the offices of the Bank as well as at art exhibitions.

Environmental management

Responsibility for the Bank’s ecological sustainability is borne by the Logistics & Security unit. The head of the unit represents VP Bank in the Swiss Network for Sustainability and Management. VP Bank is also represented in the municipality of Vaduz’s operational mobility management, where it contributes to a professional exchange of experiences gained in the area of mobility.

The Mobility Management project group of the Liechtenstein Chamber of Commerce and Industry is another body in which VP Bank actively participates. VP Bank is a member of "öbu", the Swiss network for environmentally-aware corporate management. A milestone in the environmental and sustainability policy of VP Bank in 2009 was its successful certification under ISO 14001:2004 (Environmental Management). In this connection, the areas of "Business Ecology" and "Social Responsibility" were integrated into the existing Quality Management system.

This certification attests to VP Bank’s efforts to reduce the consumption of natural resources, seek alternative solutions and deal with its employees in keeping with the principles of sustainability. For the coming years, VP Bank plans to expand even further its reporting on the environmental management and sustainability aspects of VP Bank Group.

VP Bank and operational sustainability

Acting in a manner that focuses on the long-term creates added value for companies and society as a whole. By taking the approach we do, we enhance our enterprise value and reinforce the trust of our clients, business partners and shareholders.