Banks, Business, Financial Services, Lithuania, Markets and Companies

The selection committee considered implementation of the sustainability analysis in the credit process, the suppliers' assessment of quality and environment form in procurement as important steps in raising awareness of sustainability issues in the country.

"We are introducing the principles of social responsibility into our business. The award was granted because we ask our suppliers and corporate clients to provide information about the ways they observe the principles of sustainability and social responsibility in their business. During annual interviews with their corporate clients, the account managers seek to understand what is important for them and have to assess to what extent the principles of social responsibility are observed in their business. It is a significant and decisive innovation on the market. Therefore, this award is of particular importance", said Lina Daniene, Sustainability and Societal Affairs Manager at Swedbank in Lithuania.

According to Vytautas Buciunas, the Head of Corporate Banking Division at Swedbank in Lithuania, such acknowledgement of business sustainability in specific projects is not a mere formality.

"On the contrary, it is a valuable contribution towards a sustainable society and it is a great delight that such initiatives are recognized," he said.

The Award was initiated in 2007 by four ministries – the Ministry of Environment, Ministry of Social Security and Labor, Ministry of Education and Science and Ministry of Economy – and the UNDP office in Lithuania. It is the highest CSR award in the country.

Swedbank received the Responsible Business Award in 2007, 2008 and 2010.