Bank of Ireland

Operating
Responsibly

Responsible and
Sustainable Business

Responsible Business

We take seriously our responsibility to manage impact on the environment and to reduce that impact. We must work to high standards such as our Code of Conduct, along with a range of polices that outline the high expectations we set ourselves.

Managing our impact on the environment

50% reduction in carbon emissions by 2030.
In May, we signed up to the Low Carbon Pledge to reduce our carbon emissions intensity by 50% by 2030. This is the rst collective public commitment by Irish business to lead the transition to a lowcarbon economy, and help Ireland achieve its international commitments under the Paris Climate Agreement.

The pledge is part of The Leaders’ Group on Sustainability, a business coalition, convened by Business in the Community Ireland (BITCI) to address the most pressing sustainability priorities - social, environmental and economic - as well as future opportunities for Ireland. To date we have achieved a 23% reduction in carbon emissions (on a 2011 baseline).

What we did in 2018:

  • We increased the scope of our ISO 14001 and ISO 50001 systems from eight sites to the entire Bank of Ireland Group.
  • We approved an LED lighting upgrade at our IT Centre (ITC) and Operations Centre in Cabinteely, with work beginning in January 2019.
  • At our ITC in Cabinteely, we generated 27,030 kWh of solar renewable energy - enough to power 2,250 two hour car charges in a year.
  • Four electric vehicle charging points are now live at our ITC in Cabinteely, with four more due at our Operations Centre in January 2019.
Communities

2018 Achievements

23%
reduction in single-use cups to date

27,030kWh
of solar renewable energy - enough to power 2,250 two hour car charges in a year.

53%
reduction in single-use cups to date

4
electric vehicle charging points

Gallery

Reducing plastic and other waste

A big part of reducing our impact on the environment is minimising waste. One important step is to greatly reduce our reliance on single use cups in our larger buildings in the Republic of Ireland and the UK, where we use nearly 740,000 of these cups a year. We have provided KeepCups to all colleagues in these buildings along with incentives to use them. To date this has resulted in a 53% reduction. Other measures to reduce waste in 2018:

  • All disposables in our canteens are 100% recyclable, and some arecompostable.
  • We no longer use any Styrofoam items.
  • We recycle all our paper going to condential waste (1,527 tonnes in 2018).

How we conduct ourselves

Our Code of Conduct outlines the high standards we set ourselves for what we say and do in our relationships with customers, colleagues and the communities in which we do business. It sets out the standards and behaviour expected from each of us. We must all keep to the Code when we deal with others, both within and outside the Bank of Ireland Group, and in our personal nancial dealings. While the Code cannot be specic to every situation, its intention is very clear and it includes details of what action can be taken in certain situations. The Bank is focused on creating an environment where colleagues feel comfortable to speak up, and challenge where they feel it is appropriate.

Integrity and honesty

The Group has an Anti-Bribery and Corruption Policy Standard, which sets out that we expect all employees to act with integrity and honesty at all times in their dealings with business and commercial partners. This policy reiterates the Group’s ethical and regulatory obligations to effectively manage bribery and corruption risks. All our employees complete mandatory online training to help them understand their obligations.

Enabling sustainable travel
Siobhán Gleeson bought her rst electric vehicle in January 2018 because she believes it’s the way of the future. It’s good for the environment, as it reduces carbon emissions and other pollution. But in addition, it’s cheaper to run with no need to buy petrol, reduced motor tax at just €120 a year, and signicantly cheaper insurance and servicing. With a €5,000 grant from the Sustainable Energy Authority of Ireland (SEAI), Siobhán is now paying less for her car loan than she was previously paying for petrol.

When Siobhán rst bought her car, she investigated the idea of having EV charging points installed at her place of work (ITC Cabinteely). At the same time, Bank of Ireland was exploring the option of putting in place charging points. Within the year the charging points were installed representing a convergence of colleague requirements and the Bank’s environmental programme. This has made a huge difference - for example, if she wants to go somewhere at lunchtime, she isn’t worried that she won’t have enough power to get back home later.

For those thinking about buying an electric vehicle, Siobhán says, ‘go for it!’ Along with the cost savings and environmental benets, she nds it more relaxing without the constant engine hum. It has made her rethink the way she travels, and she is also more conscious of her speed.

Operating Responsibly - Travel