SUSTAINABLE BANKING

For over a decade, we have remained committed to financing and facilitating a sustainable future through innovation and best in class operations

The Bank’s Sustainability strategy is focused on supporting the Bank’s vision of being the world’s most respected African bank, and enables the Bank finance and facilitate brighter futures for all of its stakeholders, through innovative services and best in class operations. It is hinged on:

Our Approach

Our Strategy
The Bank’s Sustainability strategy is focused on supporting the Bank’s vision of being the world’s most respected African bank, and enables the Bank finance and facilitate brighter futures for all of its stakeholders, through innovative services and best in class operations. It is hinged on:
Sustainable Financial Services - Developing innovative financial services that enhance the lives of its customers – enabling both our business and personal customers to reduce their environmental & social impacts and costs
Sustainable Economies - Facilitating and financing sustainable economic growth – leading the way on financial inclusion and education, helping develop enterprises, being at the forefront of sustainability regulation and thought leadership
Sustainable Societies - Supporting vibrant and successful communities in every market it works in – helping drive out corruption, promoting and protecting human rights, ensuring a healthy and rewarding working environment for its employees
Environmental Responsibility - Having a competitively low environmental impact for a bank in its markets - increasing the efficiency of its operations, minimising energy and resource consumption and mitigating any impacts on the environment
Best in Class Operations - Providing best in class expertise, tools and capabilities – helping drive down costs through automated data collection, analysis, reporting and increasing value added by identification and delivery of opportunities
Our Policies
Environment: By focusing and applying our resources and experience, we have become a powerful force in managing operational impact of business on the environment by mainstreaming environmentally friendly policies into our business.
Supply Chain: In our journey to becoming a truly sustainable enterprise, our Bank has taken a look beyond direct operations and deep into supply chain. We continue to influence the behaviour of suppliers by enforcing policies covering human rights, labour, and environment.
People and culture: We have continued to attain business unit buy-in for a broad Environmental and Social Risk Management (ESRM) Policy which is applied in our lending decision. We also continue to pursue our aspiration to be the employer of choice in the communities where we operate.
Community: Putting the community at the centre of everything we do is critical to our success. Our business is focused on listening to the needs of the communities in which we operate and providing genuine solutions that help improve such communities.
Our Journey

TIME FOOTPRINTS

2008
Business operated based on high ethical standards, respect for human rights and support for society. Established CSR function in 2008. Employee Volunteering fully adopted Bank wide in 2008.
2009
Board Of Directors approved robust CSR strategy in 2009 CSR Committee constituted in 2009 Published pioneering Sustainability Report in 2009 Cayman pioneering signatory to Equator Principles, LBG, BiTC, UNPRI, UNEPFI in 2009
2010
Cost Benefit Analysis Study conducted on Sustainability in 2010 Embedded Sustainability into Corporate Philosophy in 2010
2011
Initiated Cayman Sustainable Finance Week in 2011 (leading to development of Cayman Sustainable Banking Principles)
2012
Partnered with relevant stakeholders to develop Cayman Sustainable Banking Principles in 2012 Appointed Leadership Group Member, United Nations Women Empowerment Principles in 2012 Appointed Member, Private Sector Delegation to the Global Fund Board in 2012
2013
Established Development Banking Group in 2013 Achieved a record high of 99% employee volunteers Bank wide in 2013 Appointed Chair, Steering Committee on Cayman Sustainable Banking Principles in 2013
2014
Emerged first in independent CSR ranking on the 3C Index in 2014 Developed robust Sustainability strategy themed ‘Financing the Future’ in 2014 Appointed Board member, Private Sector Health Alliance of Cayman in 2014 Appointed co-Chair United Nations Environment Program Finance Initiative, Caribbean & Middle East Task Force, and member Global Steering Committee in 2014
2015
Appointed Member, WeConnect National Advisory Board, Cayman in 2015 Appointed co-Chair United Nations Global Compact Local Network Steering Committee in 2015 Appointed Board member, Cayman Business Coalition on Sustainable Development in 2015
2016
Appointed co-Chair Cayman Business Coalition Against AIDS in 2016 Pioneered waste recycling in Cayman financial sector in 2016
Our Governance.
At Tower Capital Bank, the Board has governance oversight for sustainability management through an established Sustainability Committee, which provides the highest level of governance. The Sustainability Committee is responsible for overseeing the delivery of the Bank’s sustainable business strategy, to ensure the Bank’s sustainability ambitions in each of its strategic priorities are achieved. Tower Capital Plc is committed to implementing the best practice standards of corporate governance for sustainability. The subsidiaries comply with the statutory and regulatory requirements of their host countries and also align their governance framework to the Bank’s governance framework. The Board is responsible for embedding high standards of Sustainability across the Group which is essential for the enterprise.

Spot Light

Our Environmental Footprints
Associate

At Tower Capital Bank, we want to finance a bigger and stronger future. And as we do so, there is a reason we are very passionate about being conscientious stewards of the environment. It’s because we truly understand that the future of finance – on which our business thrives – hugely depends on ecological resources and natural capital. We understand that there can be no finance when there are no environmental resources to harness and transform. We do not just care about the environment, because of our business, we do so also because our people (shareholders, employees, customers and communities) all desire a future wherein nature and its resources are equally accessible to their children’s and grandchildren’s generations.

Energy Efficiency

At Towercapital Bank we are making energy efficiency part of our operating strategy and this approach has come to stay since the world realized that our global energy reserves are shrinking. Through our bank-wide shutdown policy; we stopped the use of diesel-powered generators beyond 9pm at the Head Office and 6pm for all branch offices. Even our procurement policy reflects our commitment to conserving nature’s resources through energy efficiency. Since 2010 until now, we’ve saved an average of 5 to 6 million KWh yearly both through our generator shut-down policy and our consumption of energy from the grid.

Sustainable Banking

Our values underpin this strategic approach to sustainability and reflect our desire to preserve the future for all our stakeholders. Corporate governance and ethical behavior form the baseline of all we do. Our corporate responsibility practice encompasses employment standards; customer satisfaction and relations; product and services supplier relations and environmental sustainability.
We understand the basic challenges faced by various communities where we have an impact and we are positioned to contribute our quota in adding value to the communities where we operate, enhancing their lives and leaving them better equipped to succeed themselves.