In line with our purpose, which is 'driven by social impact', we have set out with our clients to achieve a 10% increase in social impact between 2021 and 2023. We have intentionally set this ambitious target in order to spur ourselves into action. And it bears repeating that we take our social responsibility seriously. We want to do everything possible to achieve our goal.
We measure our clients' impact according to five Sustainable Development Goals (SDGs) that are relevant to both our clients and to BNG Bank.
We have developed a methodology for measuring and reporting on our clients' impact in terms of these SDGs. We are one of the first financial institutions in the Netherlands to do this, and we are driven by our commitment to creating social impact. This is a new process. We stand to learn a great deal from it, and we realise that we may need to fine-tune our methodology along the way.
Example: increasing the availability of affordable rental housing
As the leading financier of housing associations, we are proud of the more than two million subsidised rental properties that have now been introduced within the sector. But there’s a clear need for a great deal more housing. We aim to contribute to affordable and liveable neighbourhoods (SDG 11) as a key partner of housing associations. One practical indicator of progress to this end is the total number of affordable rental properties currently available. This is why, going forward, we will measure how many subsidised rental properties partially financed by us have come on the market throughout the year. We will assess this number across the bank as a whole, as well as for each individual customer. We will then discuss with our clients how together we can ensure that even more homes are built. This is one way we can support clients in increasing their impact.
Every year, BNG Bank reports on its clients' impact, measured according to five SDGs. In doing so, we have translated the specific goals underlying these SDGs into quantifiable standards. These are in turn translated into indicators on which we report annually. The bank does this for all its stakeholders. After all, it is also important for our financial backers to know how our clients deal with the capital provided them by BNG Bank. In March 2022, BNG Bank published its first assessment – a so-called 'baseline measurement' – for the year 2021. Click here to download the full report.
Helping clients create impact through engagement
Drawing from its baseline measurement, the bank will map out its clients' progress concerning the five SDGs. Our goal is to achieve a 10% increase in our impact. And we are committed to helping clients create more impact through our 'engagement plan'. In practical terms, this means that we will actively support clients in taking action on the SDGs.