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Analyst Meeting: Sector Banking

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Presentation by Eric Flamand, Sustainable Development Officer - Dexia - France.

Presentation by Eric Flamand, Sustainable Development Officer - Dexia - France.

Published in: Economy & Finance, Business

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    • 1. Triple Bottom Line Investing Conference 2005 Frankfurt November 3, 2005 “Dexia and Sustainable Development” Eric Flamand Sustainable development officer
    • 2. Crédit Communal de Belgique 1860 1987 1991 1996 1999 2000 2001 Crédit local de France Dexia Belgium Dexia France Dexia Labouchere FSA 56% 99% Kempen Banque Internationale à Luxembourg 100% 100% 100% Artesia B.C. 100% Group History
    • 3. Dexia business lines Contribution of 3 business lines (excepted the fourth business “Treasury and financial markets”) to the underlying net income as of December 31, 2004
    • 4. Stakes
      • “ Social and
      • environmental”
      • development rating
      • Dialogue with investors
      • Dexia integrated in stock market indices
      • Expectations of civil
      • society (United Nations,
      • NGOs, media...)
      • UNEP declaration, signature of Global
      • Compact, Charter for Access to Local Public
      • Services, Equator Principles…
      Commitments by Dexia
      • Regulations
      • (reporting, benchmark,
      • transparency…)
      • “ Sustainable Development Report”...
      Sustainable development reflected by “constraints” and “commitments”
      • HR: “Diversity Charter”,
      • “ Apprenticeship Charter”…
      • SRI: European code of transparency for
      • SRI funds…
    • 5. Dexia / indices and ratings Human Resources + Environment + Customers & Suppliers + Corporate Governance = Community Involvement + Human Rights + A
      • “ Sustainable Development” Ratings
      Vigeo min -- / max ++ Innovest min CCC / max AAA B CoreRatings min D / max A+
      • SRI stock market indices including Dexia
      • Dow Jones Sustainability Index “World”
      • ASPI Eurozone
      • FTSE4Good “Europe” and “World”
      • Ethibel Sustainability Index (ESI) “Europe” and “World”
    • 6. Objectives
      • Responding to new
      • client expectations
      • Leader in SD on local authority territory
      • Citizen bank in Belgium
      • Among leaders for “sustainable”
      • or SRI investment funds
      • Responding to the need for
      • direction and commitment
      • among staff
      • An SD action plan which unites all
      • teams and business lines
      Dexia Results Sustainable development represents an “opportunity”…
      • Strengthening
      • our rating and our place
      • in the stock market indices
      • A reinforced message: “Dexia,
      • the bank of sustainable development”…
    • 7. External
      • Reinforcing good internal
      • governance
      • Anticipating client expectations:
      • climate change…
      • essential services to the
      • population…
      • - SRI investment products…
      • RHM:
      • attracting and keeping talents
      • managing diversity (place of women,
      • seniors, disabled…)
      Internal
      • Charter of professional ethics in
      • relations with suppliers
      • Increasing the reliability of
      • environmental management
      The most significant stakes for Dexia…
      • Integrating SD in risk management
      • Risk management ( Equator
      • Principles …)
      • Compliance and professional ethics:
      • notably, internal policy and
      • procedure on financing armaments
      • companies
      • Quality of commercial
      • relations
      • Strengthening dialogue with
      • “ stakeholders”
    • 8. The identity and values of the company … the originality and identity of the company … a common platform of values
      • A group specializing in financing
      • the environment and the
      • management of savings
      • Group culture and history
      • (Credit Local de France,
      • Crédit Communal de Belgique)
      • The Group’s European
      • dimension:
      • 97% of employees in Europe
      Identifying and prioritizing actions in relation to…
      • Humanism
      • Long term
      • General interest
      • Strong capacity for innovation
    • 9. The dynamics of the SD action plan
      • Strengthening our rating in an ever more competitive
      • environment.
      • Three principal objectives for 2005-2007:
      • Accompanying clients in implementing SD:
      • the major stakes of the greenhouse effect: Véolia-Dexia-CDC Agreement,
      • European Carbon Fund, “Guide to climate change”, HEQ…
      • development of SRI: a strengthened new team of 7 people for own
      • SRI research,.
      • Continuing our policy of being a socially responsible company:
      • strengthening environmental and social reporting;
      • increasing the dialogue with stakeholders (NGOs…) ;
      • implementing the “Ethics Charter / suppliers”.
      • Reinforcing the Group’s citizen commitment with new projects.
    • 10. Management of the “sustainable development” project
      • A flexible organisation structures the “sustainable
      • development” project at Group level:
      • 1 managing director (Daniel Caille) also executive General Manager,
      • Dexia Crédit Local
      • 1 project leader ( É ric Flamand)
      • 1 steering committee where the following are represented:
      • the 3 main entities: Dexia Crédit Local, Dexia Bank, Dexia BIL…
      • cross-discipline functions: HRD & Internal Communication, Logistics
      • & Purchasing, External Communication, Professional Ethics &
      • Compliance, Corporate Governance, Risk Management, Audit…
      • Regular reporting vis-à-vis the Management Board.
      • A logic of working groups / projects.
    • 11.
      • Project financing
      • EUR 6.4 billion in 2004
      • Implementation of the Equator Principles :
      • EUR 2.5 billion for 40 projects in 2004
      • The challenge of
      • climate change
      • In France, Véolia-Dexia-CDC Agreement
      • European Carbon Fund
      • Slovakia, Austria, Eastern Europe…
      Financing the local public sector
      • Promotion of HEQ
      • “ HEQ Association” partnership, publication
      • of a “Guide to HEQ”…
      • Subsidised loans / certified transactions
      • Dexia leader in wind power (more than 30
      • projects since 2002, EUR 350 million financing)
      • Dexia described “the bank of renewable
      • energies” by the Infrastructure Journal.
      • Direct and tailor-made
      • financing to facilitate
      • access to essential goods
      • EUR 28 billion in 2004
    • 12.  Questioning room for manoeuvre.  Idea of additional expenditure 1 Need for technical and financial engineering    Financial analyses  Simulations / projects  Building a long-term loan strategy  Project financing  Global financial engineering  Tailor-made packages and innovations  Example: HEQ buildings  What management mode the most “sustainable” and “effective”?  direct loans, lease credits or PPP ?  renting clean vehicles? financial leasing of selective sorting bins?  Optimizing human resources management  Attendance reward, coaching quality and psychological support…  Management of time
    • 13. Stakes observed / “SD successes”  Climate change, energy savings, sustainable tourism… Standardization and resource management (waste incineration , water,…) Transport networks / context of high urban density HEQ being disemminated … Culture, heritage maintenance… Responsible local public sector ordering and purchasing policy Development and adaptation of the local economy
    • 14.
      • The strong progress
      • made by SRI funds
      • (at 30 June 2005)
      • EUR 10.1 billion in managed funds
      • 12.4% of total managed by Dexia Asset
      • Management
      So-called “SRI” investment funds
      • Good practices and
      • initiatives
      • A large range of 19 funds.
      • A new methodology and an own research
      • team with 7 new analysts specialized in SRI
      • “ Portfolio 21” method taking account of
      • “ human rights at work” in the management
      • of insurance reserves.
      • Implementation of a policy of exercising
      • voting rights.
      • Market share
      • 7.3% in Europe to which can be added assets of
      • 78 mandates and SRI funds (instit. and private
      • clients)
      • 60% in Belgium
      • n°1 or n° 2 in France
    • 15. Sustainable and responsible relations with clients Disadvantaged people Social engineering Quality
      • Basic banking services
      • / disadvantaged people
      • (Public Social Assistance
      • Centers)
      • Quality
      • processes and
      • certification
      • Micro-credits:
      • MFI refinancing in
      • developing countries.
      • NGO support in
      • Belgium
      • In Belgium:
      • round table / the young
      • and money
      • insurance companies
      • Reinforcing the
      • appropriateness of
      • products to each
      • client
      • Measuring client
      • satisfaction
      • Purchase-option lease
      • / population mix
      • Dexia Savings Pension:
      • retirement savings
      • products,
      • management of 35 hours
      • In Belgium:
      • “ Silver” initiative,
      • evaluation of charges
      • for communes
      • Dexia Sofaxis:
      • optimization of HRM
    • 16.
      • Environmental
      • reporting:
      • paper consumption
      • ink cartridges
      • waste management
      • (paper-card, organics…)
      • liquid and energy consumption
      • professional travelling
      Assessing environmental impacts…
      • Measuring evolutions,
      • and fixing objectives…
      • New indicators ?
      • Promoting good
      • practices. Examples:
      • “ Carbon Balance”
      • (Paris building of
      • Dexia Crédit Local)
      • - “HEQ” building in Luxembourg
      • “ Mobility Action Plan” in Belgium
      • Internal awareness
    • 17.
      • Social
      • data 2004
      • 97% of 24,019 employees based in Europe
      • Women 46.15% / Men 53.85%
      • Executives: 10% women.
      • 17.54% part time (15% in 2003)
      • Recruitment on indefinite-term contracts: 95.63%
      • Average length of service: 9.15 years (11.2 in 2003)
      • 3.27 days training per employee on average
      • Sickness absenteeism low: 3.51 days per employee
      • Employee share ownership 4.80% (4.14% in 2003, 3.5% in 2002)
      Human management and social dialogue
      • Management
      • and tools
      • “ Principles of Social Management” (2002)
      • “ HR Quality Charter” (2004)
      • “ White Paper on the Place of Women” (2004)
      • Development
      • of skills
      • “ Business partners” put in place
      • Creation of the “Dexia Corporate University”
      • (“DEAL” and “LEAD” programmes)
      • Innovation
      • and social
      • dialogue
      • 16 collective labor agreements in 2004
      • The importance of the European Works Council
    • 18. The Dexia citizen commitment EUR 6.1 million (in 2004) Support of expertise and awareness of sustainable development 45% Culture and sport 28% Social and solidarity 27%
      • “ Successes in sustainable
      • development”
      • benchmark study
      • over 200 towns
      • Dexia TV
      • Symposia, studies and
      • events…
      • Avignon Festival
      • “ Axion Classics” and
      • “ Axion Art”
      • (plastic arts
      • competition
      • in Belgium)
      • Publication of works
      • Foundation
      • Dexia Crédit Local
      • / citizenship with “local
      • Missions”
      • Support “Conservatoire
      • du Littoral”
      • In Belgium:
      • “ Dexia Bank Foundation”
      • road safety partnership
    • 19.
      • Corporate
      • Governance
      • Application of the new Belgian Code of Corporate
      • Governance (Lippens Code)
      • Constitution of a “corporate governance” commission and
      • draft corporate governance charter by the end of 2005
      • Classic stakes: number of independent directors,
      • self-assessment, transparency of remuneration…
      Good governance
      • Compliance
      • and ethics
      • Approximately 150 people dedicated to compliance.
      • Policy of Group integrity, fight against money
      • laundering…
      • “ Code of Professional Ethics”, “Compliance Charter”…
      • Risk
      • management
      • Implementation of the Basle II agreement
      • Mapping operational risks
      • Audit
      • Approximately 200 people dedicated to internal audit
      • and inspection.
      • Audit mission on SD policy at the end of 2004.