Commitment to Sustainability

Commitment to Sustainability

We are Chile's public bank, with more than 168 years of history. Our journey could only be understood through the development of the country, its inhabitants, companies, and institutions, for whom we want to be key agents on the road to a more prosperous and sustainable Chile, taking charge of the challenges we face as a society.

We constantly work for the inclusion of all the inhabitants of the country in the financial system, connecting their needs with products, services, channels, and innovative solutions aimed at improving their quality of life. From here, our commitment to sustainability is fundamental to fulfilling this purpose, integrating social, environmental, and governance aspects into the business that allow us to continue accompanying the dreams and projects of our clients, people, and companies for many years to come, offering an attractive value proposition for our workers, suppliers, contractors, communities, and other stakeholders, while we are concerned about monitoring, mitigating, and remediating, as appropriate, the negative impacts of our activities and business relationships.

 

Principles of our Sustainability Policy

Through our Corporate Sustainability Policy, we seek to ensure that our policies, processes, and products address the economic, social, and environmental challenges of today's world and the financial sector to give continuity to our historical contribution to the country, promoting development and social inclusion. It also defines collaborative work with those groups of people, organizations, and institutions that, directly and indirectly, are related to BancoEstado in the development of its activities.

The principles that guide our strategy and actions in sustainability are:

 

Social and environmental criteria are integrated into the decision-making process, both in our processes and the value chain.

Respect for Human Rights in our operations and business relationships, under the guidance of the Universal Declaration of Human Rights, the United Nations Guiding Principles on Business and Human Rights, and other internationally recognized frameworks adopted by the State of Chile.

Compliance with current legislation, favoring free competition practices, and regularly reviewing our Corporate Governance practices.

Promoting transparency and information and establishing sufficient channels to communicate clearly and concisely with our stakeholders.

By preventing illegal conduct, collaborating with regulators, and preventing our products and services from being used for unlawful and/or illicit practices.

Through risk management that supervises the financial and non-financial risks included in our Corporate Risk Map.

Establishing channels and mechanisms that guarantee the due process of complaints so that our different stakeholders can report conduct that does not comply with the law or the corporation's codes.

To learn more about BancoEstado's Sustainability Policy, click here:

descarga de archivo Corporate Sustainability Policy

More information about our commitment to human rights in our operations and value chain is available at

descarga de archivo Management of Human Rights at BancoEstado

Our Sustainability Strategy

Following the principles established in our Corporate Sustainability Policy, we propose our Sustainability Strategy from different lines of action related to our environmental management, social management, governance, and economic management. These lines of action correspond to priority issues for BancoEstado, which are updated according to materiality exercises, contingencies and the expectations of our stakeholders.

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Progress in the implementation of our Sustainability Strategy is reported annually to the Board of Directors. The responsibility of supervising the application of the commitments assumed by the Bank in sustainability matters corresponds to the Sustainability Committee, which, in turn, establishes the pertinent management measures and facilitates decision-making. This latter body comprises the Executive Committee and the first-line managers who report to the Chief Executive Officer.

Considering our role as a public bank, our strategy seeks to actively contribute to those Sustainable Development Goals (SDGs) that are more directly linked to financial inclusion, the country's productive development, the generation of partnerships, and environmental protection. Thus, the Sustainability Strategy incorporates initiatives and goals that impact at least seven SDGs.