Italy: Bank takes best csr practices to Europe

It?s the result of a research done by the french agency Vigeo. Next 29th of November case history in Bruxelles for the European Marketplace on Csr.

As far as corporate social responsibility in Italy is concerned banking group Monte dei Paschi di Siena (MPS) is at the top of the class, according to a study carried out by French agency Vigeo – European leaders in the provision of extra-financial analysis and rating in environmental and social areas.

Vigeo?s research has analyzed six areas in order to evaluate the performances of national financial institutions: customer relations and business ethics, human rights protection, employee management, environmental protection, corporate governance and local communities.

On the 29th Novemeber Siena's banking group will present its best practices during the course of the European CSR marketplace, an important CSR event that is to take place in Brussels this week. Only eight Italian companies, two of which are banks, will partecipate.

MPS is the only company to have reached a score which exceeds 50/100 in the final Csr rating, with very good results on transparency indicators.

The report showed that banks are becoming more sensitive to social issues that surround daily banking practices and that they are collaborating closely with consumers? associations, despite the negative image the sector has received following financial scandals in the last years. Patti Chiari, a consortium of Italian banks that aims to estabilsh new realtionship, based on dialogue, knowledge and trust with their customers, has also helped to bring responsibility issues onto the agenda.

Since 2001 MPS has put social statements at the centre of its company strategies, thanks to the cooperation of an international experts committe that two Nobel Prize Winners (Amartya Sen and Robert Solow) were part of. This commitee highlighted the important value of Csr for the creation of a sustainable economy, with positive results in terms of corporate interest. Since then Csr has considerably developed in the area of ethics and sustainability.

As a confirmation of the attention that MPS has placed on social issues, the bank has been invited to partecipate in the ? European marketplace on Csr?. At the event, supported by the Europen Commission and promoted by Csr Europe, an association of socially commited companies, MPS will present its own case history, that focuses on the field of financial inclusion. MPS has, in fact, been broadening its client targets with the objective of guaranteeing a greater accessibility to credit even to weakest categories of population, including immigrants.

Last year MPS, in partnership with local institutions, launched an innovative financial company specialized in small loans for the worst off – a real novelty in Italy?s banking system.

More info:
Belgium: European MarketPlace on Csr