VOLKSBANK WIEN AG's eighth sustainability report is also a premiere. The report, published today alongside the annual financial report, was prepared for the first time according to the new, strict ESRS criteria. On approximately 180 pages, the bank provides more comprehensive information than ever before on its successfully implemented sustainability measures and the additional goals it is pursuing.
"Publishing our sustainability report is not only a duty for us, but also an incentive to become even better in terms of sustainability," says Gerald Fleischmann, CEO of VOLKSBANK WIEN AG and spokesperson for the Association of Volksbanks. As part of its sustainability strategy, VOLKSBANK WIEN AG has defined annual targets in various areas that serve as guidelines. "In some areas, we were even able to exceed our ambitious sustainability targets last year," reports Monika Tögel, Sustainability Officer of the Association of Volksbanks. For example, we succeeded in reducing gross greenhouse gas (GHG) emissions, which contribute to global warming, by 48% compared to 2023 (Scope 2; Scope 1: 39%).
As a financial intermediary, VOLKSBANK WIEN AG plays an important role in sustainable lending. To this end, it is keen to respond to the growing popularity of sustainable financing. The primary focus is on real estate financing for new construction and renovations. In 2024, significant improvements were achieved in processes, sales, and the consistent growth of a sustainable loan portfolio. In 2025, the product range of sustainable loans will be expanded to play a key role in shaping the green transformation in Austria with a loan share of at least 95%.
"The fact that climate protection can also significantly contribute to cost reduction is demonstrated by the example of a Volksbank branch that converted to a new heating system last year. By converting the heating system to a heat pump, installing a PV system, and introducing LED lighting, we expect this branch's energy consumption to be reduced by 70 to 80 percent," explains Markus Partl, Managing Director of Volksbank Infrastruktur und Immobilien GmbH. Therefore, the various sustainability measures for all planned construction projects are examined from both economic and ecological perspectives.
Significant increase in customer satisfaction
Significant progress has been made not only in climate protection, but also in employee and customer satisfaction. The internally determined key figure (NPS) for employee satisfaction at VOLKSBANK WIEN AG rose to 13, up from 10 in 2023. Since the 2022 Sustainability Report, this figure has increased more than sixfold. The proportion of female managers at VOLKSBANK WIEN AG increased by a further 1.6 percentage points to 36.8% in 2024.
One of the measures implemented to increase employee satisfaction is the general flexible working hours offered to all employees.
Customer satisfaction, measured using the so-called NPS (Net Promoter Score), has also increased significantly. With an NPS score of 43 determined by independent market researchers, the previous year's figure (24) was improved by approximately 79%, or 19 percentage points.2 Gerald Fleischmann commented: "The significant improvement in our NPS score shows that all employees are pulling together when it comes to customer satisfaction and together form a strong team to provide our customers with the best possible service."
At least 95% of loans are granted regionally
"From the region, for the region" is the central motto of VOLKSBANK WIEN AG and the entire Volksbanken Association. Against this backdrop, at least 95% of financing is provided within the region. "With our financing, we support regional economic cycles and invest our customers' funds locally. This is what we understand as sustainability-oriented action and is one of the cooperative principles by which the Volksbanken operate," explains Gerald Fleischmann. Monika Tögel adds: "Regionality is certainly our strongest asset when it comes to the long-term positioning of VOLKSBANK WIEN AG and the entire Volksbanken Association." To support regional corporate customers in their transformation toward sustainability and a circular economy, VOLKSBANK WIEN AG has also been publishing its own sustainability guide with practical tips for several years in collaboration with the Austrian Cooperative Association (ÖGV) and respACT (the new edition will be published in June 2025).
Highlights 2024 – first green bond for private investors
One of the "sustainability highlights" of 2024 in the area of financing is the first-ever green bond issuance, which opened up the rapidly growing segment of sustainable investments to private investors and domestic entrepreneurs in autumn 2024. The proceeds from this bond will be used in whole or in part to finance and/or refinance new or existing eligible green loans in accordance with the current Sustainability Bond Framework of VOLKSBANK WIEN AG.
In addition, VOLKSBANK WIEN AG, participating for the first time in the "Austrian Sustainability Reporting Award" (ASRA), the award for the best sustainability reports in Austria, immediately placed among the top 3 in the category "Other companies required by law to report on sustainability." Furthermore, the bank was recently recertified as a Leading Company Austria. Internationally, VOLKSBANK WIEN AG positioned itself among the top 107 banks out of a total of 1,030 rated banks worldwide with an "ESG Risk Rating" of 14.3 ("Low Risk") awarded by the independent international rating agency Sustainalytics (as of March 17, 2025).
The sustainability report of VOLKSBANK WIEN AG is available for download: www.volksbankwien.at/nachhaltigkeitInformation on the 2024 annual results of VOLKSBANK WIEN AG and the Volksbanken Association can be found on the website at www.volksbankwien.at/investor-relations can be found in the Reports section.