Sustainability at VP Bank: Responsibility in Action
VP Bank is committed to the principle of sustainable action. With a series of targeted measures, VP Bank also actively assumed its responsibility to society, the economy and the environment in 2019.
By Reto Marx, Head of Client Business, VP Bank Singapore
«For VP Bank Group, living responsibility towards interest groups and the environment is an essential factor in responsible entrepreneurial activity,» emphasizes Felix Brill, Chief Investment Officer and Chairman of the CSR Board of VP Bank Group.
«DRINK&DONATE» Extended for Another Three Years
Under the motto «Drink tap water, donate drinking water», VP Bank in Liechtenstein has been committed since 2017 to the non-profit association «DRINK&DONATE», which promotes the consumption of tap water instead of bottled water that is transported by road. The partnership has now been extended by three years until the end of 2022. VP Bank's annual donations are used to finance drinking water projects that give needy people in developing countries access to clean drinking water.
With their own ecologically produced «DRINK&DONATE Drinking Bottle», all employees receive an attractive alternative to the environmentally harmful plastic bottles and, through their use, the opportunity to make a contribution to protecting the environment. The VP Bank drinking bottle is distributed free of charge to all VP Bank employees and was also distributed to those present at the «VP Bank Classic Experience» event in Singapore. The refillable bottles are also used at client meetings.
Donating Furniture Instead of Throwing it Away
In 2018, VP Bank launched an extensive reconstruction project at its headquarters in Vaduz/Liechtenstein. In order to adapt to the newly designed room layout, the entire location was completely refurnished. The fact that used furniture can be ecologically and socially recycled is demonstrated by the initiative of VP Bank in cooperation with the Order of Malta that helps people in need through its medical, social and humanitarian work.
A large part of the well-preserved and fully functional office furniture such as cupboards, tables and chairs were donated to the Order. The furniture was loaded in Liechtenstein and transported by truck to Slovakia. There they were used to furnish social institutions, schools and hospitals. With the furniture donation a contribution could be made to the garbage reduction and at the same time, charitable organizations were supported, which do not have financial means for the acquisition of new furniture.
Increase the Electricity Yield From Solar Energy
VP Bank Group relies on numerous initiatives for the responsible use of energy. For example, 24 years ago, a photovoltaic system was installed on the roof of the building at VP Bank's headquarters in Vaduz, providing environmentally friendly energy for the bank's network. This year, a further system was installed on the roof of the main building and the administration building.
Work on this new photovoltaic system is in full swing and will be completed at the beginning of 2020. Further investments in solar energy will increase the expected electricity yield through in-house production to around 200,000 kWh of electricity per year. This corresponds to the consumption of 36 single-family houses with a 4-person household.
Living Responsibility at all Locations
Due to the geographical situation, the British Virgin Islands (BVI) are faced with a multitude of serious sustainability challenges, in particular, the threat to the highly sensitive groundwater and marine ecosystems. With its location on the BVI, VP Bank is a pioneer in the «Green VI» initiative, which advocates a greener, cleaner and more responsible approach to the environment on the islands.
As part of its commitment to «Green VI», VP Bank (BVI) Ltd was recently trained and certified on the subject of recycling at the workplace and in the private sphere. With its commitment to the environment, VP Bank is helping to raise awareness of sustainable future development among the population of BVI.
Sustainable Building Equipment
VP Bank also pays attention to sustainable building equipment. VP Bank's offices in Singapore are located in the «Asia Square Tower». This building consumes 35 percent less energy than other standard commercial buildings.
The building received the Green Mark Platinum Award from Singapore's Building and Construction Authority and a «Leadership in Energy & Environmental Design Core & Shell» certification as well as a «Water Efficiency Building Gold Award» from the Public Utilities Board being top 10 percent on water efficiency performance.
Increasingly Coming
«I am firmly convinced that companies that carefully handle our limited natural resources and actively assume their responsibility for society, the economy and the environment on a daily basis are better positioned for the future,» is how Felix Brill explains VP Bank's special commitment to sustainability.
«In Asia, too, the topic of sustainability is increasingly coming to the fore among our employees and customers,» he adds.
- Further information on the sustainable activities of VP Bank can be found on the VP Bank website under «About us - Responsibility - Sustainability».
VP Bank Ltd was founded in 1956 and is one of the largest banks in Liechtenstein with 940 employees at mid-year 2019 (full-time equivalent 876). It currently has offices in Vaduz, Zurich, Luxembourg, Singapore, Hong Kong and Road Town on the British Virgin Islands. VP Bank Group offers bespoke asset management and investment consultancy for private individuals and intermediaries. As of 30 June 2019, the assets under management of VP Bank Group amounted to CHF 45.6 billion. VP Bank is listed on the Swiss stock exchange SIX and has an «A» rating from Standard & Poor’s.
VP Bank Singapore Branch is a boutique private bank with a client-centric business philosophy. VP Bank Ltd established a presence in Singapore in 2008. VP Bank Ltd Singapore Branch now has about 70 employees. VP Bank Ltd Singapore Branch provides specialised wealth management solutions and family office services for high-net-worth clients and professional asset managers and is dedicated to the preservation and growth of its clients’ wealth. The bank offers a holistic suite of wealth management products & services and including advisory, not just in wealth management, but also in inheritance planning, structuring of trusts and foundations, as well as art and philanthropy. Apart from private wealth management, VP Bank Ltd Singapore Branch provides comprehensive services for asset managers and other financial intermediaries. The service offering comprises a trading platform, banking services — including e-banking and mobile banking — and operational support. Partnership arrangements with professionals include tailor-made investment advisory, discretionary management solutions and custodian services.
