CENTER FOR BUSINESS
AS AN AGENT OF WORLD BENEFIT

Bank ABN AMRO has made sustainability a cornerstone of its business. The bank strives to include a concern for social and environmental issues in the decision-making of every strategic business unit. These activities have gained such prominence that a special unit, the Sustainable Development Group was organized to coordinate sustainability work across the organization. The innovativeness of this sustainability mindset has led to numerous activities that are creating a shift in the impact of ABN AMRO on environment and society.

Located unobtrusively on the implicit boundary between the District of Columbia’s well-to-do neighborhoods to the west and the less prosperous ones to the east, City First Bank of D.C. has been on a mission since its inception to make a difference in the communities that most need assistance. City First has found, quite intentionally, an ideal integration of its social concerns and the necessity of maintaining a solid bottom line. They are especially skilled in financing the acquisition and renovation of affordable housing, facilities and working capital for nonprofit and faith-based organizations, and small businesses.

Grameen Bank (GB) has reversed conventional banking practice by removing the need for collateral and creating a banking system based on mutual trust, accountability, participation and creativity. GB provides credit to the poorest of the poor in rural Bangladesh, without any collateral. At GB, credit is a cost effective weapon to fight poverty and it serves as a catalyst in the overall development of socio-economic conditions of the poor who have been kept outside the banking orbit on the grounds that they are poor and hence not bankable. Since the bank does not wish to take any borrower to the court of law in case of non-repayment, it does not require the borrowers to sign any legal instrument. Although each borrower must belong to a five-member group, the group is not required to give any guarantee for a loan to its member. Repayment responsibility solely rests on the individual borrower, while the group and the Grameen Bank center oversee that everyone behaves in a responsible way and none gets into a repayment problem. There is no form of joint liability, i.e. group members are not responsible to pay on behalf of a defaulting member.

Shorebank uses for-profit commercial banking to focus on inner-city urban development. It now has over $1.5 billion in assets with broad impact on inner-city communities, with $1.7 billion invested cumulatively in priority communities, which are selected communities with less incomes and housing values than the regional or state average.

The Co-operative Bank, whose roots go back to 1872, is a full-service retail player in the United Kingdom commercial banking industry. It offers a full range of banking services, including on-line banking, and is an innovator in the field of sustainability reporting. Using sophisticated financial value analysis methods, the bank reports not only shareholder and stakeholder value created but also an analysis of the direct contributions that ethical and ecological positioning has made to the company's profitability.

In consonance with its name of Triodos or ‘three way’, Triodos Bank has built its business model on the three pillars of people, planet and profits. The belief of the bank is simple and its mission is lucid - it finances companies, institutions and projects that add cultural value and benefit people and environment with the support of depositors and investors who wish to encourage social responsibility and a sustainable society.

Westpac, an Australia-based financial services and banking company, has been working with the Cape York indigenous people who face a life expectancy of less than 50 years, have an average annual income of $8,600 per annum, and fewer than 10% of their working age population are in unsubsidized employment. The 10,000 people living in 17 Cape York communities face an epidemic of substance abuse, a breakdown of law and order, and dysfunctional governance structures. Westpac’s involvement represents an innovative way to contribute to capacity building while expanding the company’s customer base. Westpac’s approach includes Family Income Management (FIM), Business Hubs and an assist in the development and implementation of the Computer Culture educational project. In addition, three twelve-month Westpac Fellowships have been established in strategic positions in the regional organizations to help build their capacity to roll out their strategies. Westpac has been named and ranked among the most socially responsible companies in Australia.