Every project supported by OeEB contributes to local, sustainable development. Sustainable business and sustainable growth are our tools for maintaining and developing economic, ecological and social progress. This principle characterises our treatment of colleagues, customers, principals and project partners.
We make development responsible and develop responsibility.
Sustainable practices both in our project activities and in-house are highly important to us: Under the umbrella of the proven sustainability management of the OeKB Group, we have made significant strides in this respect over the past years. Since 2012, OeEB's sustainability reporting forms part of the OeKB Group report.
Our Sustainability Policy
The Sustainability Policy of the OeKB Group reflects our attitude and responsibility towards long-term, positive economic development.
The transformation to a sustainable society is the central challenge of our time. We contribute to the implementation of the Austrian government's sustainability measures, to the achievement of Agenda 2030 with its Sustainable Development Goals (SDGs), and to the fulfilment of the Paris Climate Convention. Thus, with our work, products and services we make an effective contribution to the well-being of the economy, society and the environment.
Due to our role as the official export credit agency, as the development bank and tourism bank of the Republic and as a central service provider for the capital and energy markets, we have a special responsibility for Austrian prosperity. We contribute to a vibrant economy and create better living conditions for people in developing countries.
Good and trusting communication with all stakeholders is important to us. We see dialogue as an opportunity for our development and a contribution to successfully implementing sustainability in our work. Therefore, we constantly examine global and local trends and interrelationships and serve our stakeholders as a think tank that creates space for future thinking and future simulations.
Corporate action and social responsibility are inseparable. We are committed to this social responsibility. For us, sustainability is a holistic concept. Our goal is to constantly balance economic success, social justice and ecological sustainability. We ensure sustainable banking operations, we are a responsible employer, and we only implement projects whose risks can be assessed and controlled in order to make an effective contribution to economically sustainable success.
For us, long-term business success involves the responsible use of natural resources, which we regard as the basis of life for future generations. In this way we support the transformation process towards sustainability, secure our entrepreneurial capacity to act and strengthen our position.
We provide many essential services for Austria and its economy. We see this as our social mission. We want to fulfil this in such a way that the general public and our company benefit together. For this reason, we set new sustainability goals every year, review them regularly, and implement continuous improvement measures.
We want to confirm and strengthen the trust placed in us. In addition to all legal requirements, we take into account social aspects, conserve and respect environmental resources, and act in such a way that human rights are respected. Thus, we take into account the people concerned, their intercultural environment, and environmental aspects.
We contribute to achieving the Sustainable Development Goals.
In 2015, the United Nations agreed on 17 Sustainable Development Goals (SDGs) which set a vision for the world in 2030 and range from ending poverty to providing access to affordable, clean energy and creating decent jobs and economic growth. The SDGs serve as central points of reference for our work and strategic positioning.
As part of the United Nations' 2030 Global Agenda, Austria promised to support developing countries in their implementation of the sustainable development goals (SDGs). As the official development bank of the Republic of Austria, we consider ourselves to be one of the key institutions responsible for fulfilling this promise.
Our contribution to implementing the SDGs can be illustrated on two basic levels:
As an institution:
Our mandate specifically mentions the objective of combating poverty by means of private sector development and our role as a provider of finance which complements the classic ODA. Therefore, all our projects contribute to the achievement of SDG 1 "No poverty" and SDG 17 "Partnerships for the goals".
The specific contributions made by our projects:
Besides economic feasibility, our projects always have clear developmental goals which are geared towards the SDGs. The achievement of these project objectives is assessed annually and reported as a "main contribution" towards the respective SDG. Due to our activity in the private sector and the abovementioned thematic focus areas, these are mainly (but not exclusively):
- SDG 7 "Affordable and clean energy" (focus sector renewable energy)
- SDG 8 "Decent work and economic growth" (above all via focus sector MSME/ financial inclusion)
- SDG 9 "Industry, innovation and infrastructure" (focus sector infrastructure)
- SDG 13 "Climate action" (horizontal goal of climate financing)
Furthermore, our projects frequently realize outcomes beyond their core business area, which constitute added developmental value within the meaning of the SDGs. This is measured and reported as an "additional material contribution" (for example: promoting women employees, compliance with particularly high environmental and social standards etc.).
We compensate for our air miles with climate protection projects.
Due to the international nature of our activities, almost all of our business travel is by air. We offset the CO2 emissions from our air travel by supporting climate protection projects conducted by Vienna's University of Natural Resources and Applied Life Sciences.