Innovation, social responsibility, and community support through the sustainability lenses

Erste Bank publishes 2023 corporate social responsibility report

As one of the first companies in Serbia to adopt the practice of non-financial reporting over a decade and a half ago, Erste Bank has released its 16th Corporate Social Responsibility Report, “The Bank – It’s the People,” showcasing the impact its operations have had on society and the environment in 2023.

Sustainability in Focus – Energy Efficiency and Innovations

Erste Bank’s long-term strategic approach to environmental protection is reflected in the continuous assessment of its operational impact. The Bank tracks its consumption year after year and implements initiatives aimed at reducing it across all significant parameters: energy, greenhouse gas emissions, water, waste, and transport. In 2023, the Bank carried out several initiatives to improve internal energy efficiency, including supplying more than 70% of its facilities with renewable energy, and expanded its fleet with an additional six electric vehicles, bringing the total to eight electric vehicles.

Additionally, the Bank approved 106 loans to individuals for energy efficiency improvements worth 71.6 million dinars last year. In October 2023, the Bank renewed its partnership with the European Bank for Reconstruction and Development (EBRD) and approved the first green loan for a residential community in Serbia through the Green Economy Financing Facility (GEFF) for the Western Balkans.

“Responsibility and sustainability have been strategically embedded in our Bank’s operations from the very beginning. Last year was no exception, and we consistently continued with a range of activities to contribute to mitigating climate change and raising awareness about the importance of energy efficiency and the use of renewable energy sources in Serbia. Additionally, we initiated and joined numerous initiatives that strongly impact inclusion and diversity. We also continued to support the development of local communities systematically and sustainably,” stated Sonja Konakov Svirčev, Manager for Corporate Social Responsibility, Diversity, and Inclusion at Erste Bank.

Supporting Entrepreneurship Through Social Banking

Launched as an Erste Group initiative, social banking has become a regular business line that supports the development of the social economy and entrepreneurship. In 2023 alone, the Erste Bank social banking team supported 84 startups and three civil society organizations with over 122 million dinars in loans. Startups received more than 306 hours of mentoring and educational support, while social economy entities and civil society organizations received an additional 100 hours of support.

At the end of last year, Erste Bank organized the first women’s entrepreneurship fair #believeinyourself at the Jevremovac Botanical Garden, featuring the Bank’s clients, entrepreneurs, women leading social enterprises, and work centres of organizations focused on the social and economic empowerment and inclusion of women, people with disabilities, and youth without parental care.

Cultivating Values Through Culture and Community Support

Decades of investment in programs, projects, and initiatives in the fields of culture and art continued last year. Under the slogan #believeinyourself, awards were presented to young artists at the Guitar Art Festival and the Belgrade Dance Festival. In collaboration with all art academies in the country, 10 awards were given to the most talented and outstanding art students. Erste Bank is also a sponsor of the “Momo Kapor” award, presented alternately for literature and visual arts on April 8, the artist’s birthday.

Support for the local community is also evident through the ongoing volunteer actions of the Erste Volunteer Club, which celebrated its 15th-anniversary last fall by arranging Andrevlje on Fruška Gora. Over 300 volunteers marked and cleaned hiking trails totalling five kilometres in length, collected 80 bags of trash, installed a new information board, and set up 10 new forest rest areas.

Continuing the Success of Financial Education Programs

In 2023, the Bank continued to implement the #ErsteZnali program, which includes an educational online platform for financial management and entrepreneurship development, as well as a special segment dedicated to financial education for the youngest.

The educational app and game “Guardians of the Dragon’s Treasure,” available to everyone via mobile phones and tablets and aimed at children aged 7 to 10, recorded about 10,000 downloads in 2023. Additionally, as part of the “Money School for Primary School Students” project, which we implement in partnership with the Ministry of Education of the Republic of Serbia, an annual professional conference was organized to present results and examples of good practice from over 50 schools.