Caixa Geral de Depósitos (CGD) was founded in 1876. It is the only state-owned bank in Portugal, the country's largest financial group and the bank in which the Portuguese trust the most. Aware that internal and external community engagement is one of the pillars of its work, CGD wishes:
- to include the community as a decisive factor in the creation of value and the sustainability of its business and support and strengthen its strategy, brand and corporate values;
- to meet the community's needs and abide by the principles of ethics, transparency, codes of conduct, respect for employees and continuous, committed sponsorship of social and cultural activities;
- to promote best practices in response to the challenges of Portuguese society through three strategic approaches: social innovation, culture and education and financial literacy;
- to foster the participation of stakeholders and consider their concerns and values when making decisions.
This policy has been made at top management level and the Board of Directors has reiterated it throughout CGD's history in the awareness that the company's sustainable development represents a contribution to a better society.
Scope
Our Community Engagement Policy (CEP) applies to all investments made through support for institutions, funding for initiatives, projects and volunteering, among others. It must be taken into account by all employees of CGD, S.A.
Commitments
CGD's pledge to foster good social responsibility practices is clear in its ties to different initiatives, such as the funding of the first study in Portugal of the role of companies in society and its membership of the London Benchmarking Group (LBG), an alliance of more than 100 international businesses committed to measuring the impact of their investments on the community.
CGD makes three basic statements in its CEP: to structure, assess and monitor its investments. This is how it will maximise the impact of its work, clearly in line with its core business, and give back to the community some of what it receives.
Areas of intervention
CGD's Community Engagement Policy is embodied in the following guidelines:
- Continue the implementation of a social bank and focus its work on microcredit and microfinance, entrepreneurship, social innovation and the Caixa Fã (Caixa Fan) Fund, among others.
- Continue to invest in culture by keeping up projects in the areas of music, the arts, film and documentaries, photography and journalism, through Fundação CGD – Culturgest (CGD Culturgest Foundation).
- Continue to invest in financial literacy and education with the Saldo Positivo (Positive Balance), Ciclo da Poupança (Savings Cycle) and Educa+ projects and involving the different stakeholders.
- Use the London Benchmarking Group (LBG) tool to structure support, focus and understand it and make it more efficient.
- Offer products that actively promote financial accessibili.
- Foster the creation of innovative financial instruments for helping Portuguese businesses (micro, small and medium-sized enterprises).
- Encourage employees to play an active part in implementing the CEC, particularly through personal and corporate volunteer work.
- Include community engagement in its communication strategy.
Communication
Communication and periodic reporting of CGD activities in the community are essential in monitoring goals and ensuring the involvement of all stakeholders. Progress made in the different CEP areas will be reported in different communication channels, including CGD's annual sustainability report.
Management Model
The CEP is one of the approaches of CGD's sustainability strategy. Responsibility for its implementation and its underlying management model articulates with CGD's sustainability units. The bodies with strategic duties in this area include the Board of Directors, as the maximum manager of the CEP and the Sustainability Board, which is in charge of monitoring and strategic reflection. In operational terms, the responsibility for implementing the CEP lies with the Sustainability Coordination Team and the Communication and Brand Department, appointed to pursue the CGD's community goals.
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