14. Employment Rights

The company reports on how it complies with nationally and internationally recognised standards relating to employee rights as well as on how it fosters staff involvement in the company and in sustainability management, what goals it has set itself in this regard, what results it has achieved thus far and where it sees risks.

Rentenbank attaches importance to reconciling its employees’ professional lives with their home lives and caring responsibilities. We tailor personal development plans to our employees’ needs and provide our managers with special training courses. We also attach particular importance to the health of our employees. This involves not only eliminating any stress or strain at work but actively taking preventative measures to promote the good health of our employees.

As an employer and a customer operating exclusively in Germany, Rentenbank respects human and employee rights. For this reason, we do not consider there to be any significant risks regarding employee rights. Freedom of association and the right to collective bargaining are key to the protection of employment rights.

Respect for employee rights and employee participation
Rentenbank is a member of the Association of German Public Banks (Bundesverband Öffentlicher Banken Deutschlands, VÖB). Accordingly, it applies the collective pay agreement agreed on with the respective trade union for private and public banks.

Within the framework of employee participation at work, a staff council was elected based on the Federal Employee Representation Act (Bundespersonalvertretungsgesetz, PersVG). It represents the interests of all employees. Employer and staff council work in consideration of the laws and pay agreements in a confidential and collaborative way. The staff council exercises its rights to participation on codetermination, cooperation and consultation. In addition to the works council, the Equal Opportunities Commissioner and the representative for the severely disabled represent the interests of the employees. Furthermore, the responsible committees and the affected employees are fully involved in the development of strategy. This takes place by means of one-to-one meetings with line managers, internal informative events, and digital information channels. The implementation of strategic sustainability management specifically involves employees from across the entire bank and all management levels in the work groups, steering committee and our cross-divisional ‘Ökoprofit’ team. Employees are being asked to come forward and discuss their ideas and suggestions for change with the relevant contact person.

In order to navigate our way through the changing world of work with its increasing demands for speed, volume and complexity, Rentenbank updated its ‘Guidelines for management and cooperation’ in 2019/2020 as a result of several workshops in which employees from all divisions participated. The following six core elements make up the joint output of these workshops:
Occupational health management and job security
Through programmes based on physical and mental health, Rentenbank prioritises the systematic management of the health of its employees. This includes regular health days, contributions towards memberships of gyms of the employee’s choice, individual health training sessions, corporate sport groups as well as corporate integration management, among other things. We also offer the advisory service 'pme Familienservice' (life coaching, care for the elderly, addiction prevention etc.), which all employees can use free of charge.

Affordable meals which are healthy and balanced are available from our own canteen.

'Health as a management task' forms part of the compulsory training programme for all managers. Rentenbank’s organisational structure for dealing with occupational health and safety creates the framework for protecting employees from dangers at work. Rentenbank has set up a staff safety committee, which is made up of members of the staff council, the Health and Safety Officer, the representative for the severely disabled and Rentenbank’s HR management, among others.

Objectives
Objectives towards reconciling professional and personal lives as well as equality and other standard employee rights are in most cases regulated by law, and are firmly-established at Rentenbank. We prioritise the following activities over and above our statutory duties:

15. Equal Opportunities

The company discloses in what way it has implemented national and international processes and what goals it has for the promotion of equal opportunities and diversity, occupational health and safety, participation rights, the integration of migrants and people with disabilities, fair pay as well as a work-life balance and how it will achieve these.

Rentenbank is committed to equal opportunities and diversity and considers this obligation to be important and a matter of course: No one should be disadvantaged because of their background, ethnicity, sex, religion, world view, disability, age, or sexual orientation.

Gender equality and reconciling family and professional lives
Gender equality is an important aspect of Rentenbank’s HR policy, particularly in relation to pay. Rentenbank has appointed an Equal Opportunities Commissioner, who is closely involved in all relevant decisions such as recruiting new staff. The equality plan, which is accessible to all employees, contains targeted measures for improving gender equality and improving the ability to reconcile family and caring responsibilities with professional life. These measures include flexible working and part time working, the subsidising of nursery places, and the offer of an advisory service (pme Familienservice) etc. The objective of increasing the number of women in management roles by 20% by 31 December 2019 was achieved. By 30 June 2020 it was at 22%. The increase in the number of women in management roles to 25% is to be achieved by 2025 at the latest. Annual checks are carried out as to how the gender equality plan is being implemented. In addition, all employees receive training in general equality legislation when they start work with us.

Diversity
Rentenbank has signed the Diversity Charter (Charta der Vielfalt). In signing this, Rentenbank publicly commits to having diversity in its corporate culture.

Inclusion of people with disabilities
In recognising our responsibilities to society, Rentenbank supports the inclusion of people with disabilities. We follow the model of the UN’s Convention on the Rights of Persons with Disabilities (CRPD), which has been in force in Germany since March 2009, and we adapt our work stations to the needs of our employees with disabilities. For reasons of data protection and due to the fact that it employs very few staff, Rentenbank opts not to disclose its inclusion quota. In addition, due to the fact that we cannot influence this indicator, there is no target.

16. Qualifications

The company discloses what goals it has set and what measures it has taken to promote the employability of all employees, i.e. the ability of all employees to participate in the working and professional world, and in view of adapting to demographic change, and where risks are seen.

The HR strategy is derived from our business strategy. It comprises safeguarding appropriate quantitative and qualitative staffing levels, the promotion of gender equality, as well as safeguarding and further development of instruments and processes within staff management, among other things.

In order to ensure it has appropriate staff levels, the Bank positions itself as an attractive employer for current and future employees. To recruit and develop university graduates, Rentenbank benefits from its tried and tested trainee programme. The programme consists of 'training on the job' in different departments at the Bank, cross-divisional seminars and tailored training sessions. In 2020, eight new trainees commenced their traineeships.

Rentenbank’s succession and retention management allows for talent to develop and be retained in an organised way. As part of this programme, high achievers and those with great potential can be prepared to move up to a management position or to take on other key roles using tailored development plans.

A general risk in relation to qualifications is that employees’ qualifications might not meet the standards of the regulator. The Bank is heightening awareness among its employees about the relevant provisions through regular compulsory training sessions, especially regarding money laundering, fraud prevention, data protection and information security. Participation is monitored. This ensures that we have a participation quota of 100%. Regular employee training sessions about current developments/methodology through to precautionary instruction are on-going. An appropriate level of skill is ensured by providing training sessions as the need arises and recruiting in a targeted way. The usual regular appraisals offer a platform for proper feedback from the line manager on the employee’s performance and the opportunity to discuss objectives and expectations of both parties. On this basis, measures to support achieving them are agreed upon. They can include acquiring new tasks or responsibility for projects. The success of these training sessions is assessed and monitored through questionnaires. Producing detailed statistics relating to training sessions is part of HR management.

The number of training days per employee is one of the aims contained in the business strategy (target: 1.5 days). In 2020, due to COVID-19 the average number of training days was slightly below this at 1.4 days per employee. Training constitutes one of the topics contained within the quarterly report produced by HR for the Management Board.

Key Performance Indicators to criteria 14 to 16

Key Performance Indicator GRI SRS-403-9: Work-related injuries
The reporting organization shall report the following information:

a. For all employees:
i. The number and rate of fatalities as a result of work-related injury;
ii. The number and rate of high-consequence work-related injuries (excluding fatalities);
iii. The number and rate of recordable work-related injuries;
iv. The main types of work-related injury;
v. The number of hours worked.

b. For all workers who are not employees but whose work and/or workplace is controlled by the organization:
i. The number and rate of fatalities as a result of work-related injury;
ii. The number and rate of high-consequence work-related injuries (excluding fatalities);
iii. The number and rate of recordable work-related injuries;
iv. The main types of work-related injury;
v. The number of hours worked.

You will find the remaining numbers c-g of the indicator SRS 403-9 in the GRI standard and may additionally report them here.


Key Performance Indicator GRI SRS-403-10: Work-related ill health
The reporting organization shall report the following information:

a. For all employees:
i. The number of fatalities as a result of work-related ill health;
ii. The number of cases of recordable work-related ill health;
iii. The main types of work-related ill health.
b. For all workers who are not employees but whose work and/or workplace is controlled by the organization:
i. The number of fatalities as a result of work-related ill health;
ii. The number of cases of recordable work-related ill health;
iii. The main types of work-related ill health.

You will find the remaining numbers c-e of the indicator SRS 403-10 in the GRI standard and may additionally report them here.

No deaths from work-related injuries.

No work-related injuries with serious consequences.

In 2020, four work-related injuries and two accidents commuting to work were documented. Therefore, 1.6 work-related injuries per 200,000 hours worked were recorded (hours worked by all employees in 2020 (based on average full-time equivalent and work days in 2020 excluding annual leave. No account is taken of over-time or sick leave): 504,178 hours). Due to the small number of injuries, we will not be disclosing their nature.

Work-related illnesses are not recorded (at Rentenbank, this is of minor importance because most work is office-based).

Key Performance Indicator GRI SRS-403-4: Worker participation on occupational health and safety
The reporting organization shall report the following information for employees and for workers who are not employees but whose work and/or workplace is controlled by the organization:

a. A description of the processes for worker participation and consultation in the development, implementation, and evaluation of the occupational health and safety management system, and for providing access to and communicating relevant information on occupational health and safety to workers.

b. Where formal joint management–worker health and safety committees exist, a description of their responsibilities, meeting frequency, decision-making authority, and whether and, if so, why any workers are not represented by these committees.

Cf. criterion 14.

Key Performance Indicator GRI SRS-404-1: Average hours of training
The reporting organization shall report the following information:

a. Average hours of training that the organization’s employees have undertaken during the reporting period, by:
i. gender;
ii. employee category.

On average 1.4 training days per employee.

Please note: Calculated based on the number of staff, not full-time equivalent staff. The Bank’s non-mandatory training courses are open equally to all employees as a matter of course. An evaluation according to gender, role, management level etc. is not being undertaken for this reason, as well as due to the small number of staff overall.

Key Performance Indicator GRI SRS-405-1: Diversity
The reporting organization shall report the following information:

a. Percentage of individuals within the organization’s governance bodies in each of the following diversity categories:
i. Gender;
ii. Age group: under 30 years old, 30-50 years old, over 50 years old;
iii. Other indicators of diversity where relevant (such as minority or vulnerable groups).

b. Percentage of employees per employee category in each of the following diversity categories:
i. Gender;
ii. Age group: under 30 years old, 30-50 years old, over 50 years old;
iii. Other indicators of diversity where relevant (such as minority or vulnerable groups).


Management Board
Category of diversity Number of persons Number of persons (in %)
Overall  4 100%
According to gender    
 female  1 25%
 male  3 75%
Age groups*    
 < 30 years  0 0%
 30-50 years  1 25%
 > 50 years  3 75%
 * Reporting date: 31.12.2020    
   
Supervisory Board
Category of diversity Number of persons Number of persons (in %)
Overall 18 100%
According to gender    
 female 5 28%
 male 13 72%
Age groups*    
 < 30 years 0 0%
 30-50 years 4 22%
 > 50 years 14 78%
 * Reporting date: 31.12.2020    
   
Staff (excluding Management Board and Supervisory Board)
Category of diversity Number of persons Number of persons (in %)
Overall 343 100%
According to gender    
 female 157 46%
 male 186 54%
Age groups*    
 < 30 years 32 9%
 30-50 years 184 54%
 > 50 years 127 37%
 * Reporting date: 31.12.2020    

Key Performance Indicator GRI SRS-406-1: Incidents of discrimination
The reporting organization shall report the following information:

a. Total number of incidents of discrimination during the reporting period.

b. Status of the incidents and actions taken with reference to the following:
i. Incident reviewed by the organization;
ii. Remediation plans being implemented;
iii. Remediation plans that have been implemented, with results reviewed through routine internal management review processes;
iv. Incident no longer subject to action.

No incidents of discrimination have been reported, therefore no measures have been taken.
Further indicators
There were no redundancies in the past 10 years (e.g. more than 1,000 employees or more than 5% of the core staff).

11% short-term or temporary employees (as of 31 December 2020). 0.4 temporary employees and 315 full-time employees on an annual average

In 2020, 0,4 temporary employees and 315 full-time employees as an annual average.

Staff turnover rate in 2020: 6.35%

17. Human Rights

The company discloses what measures it takes, strategies it pursues and targets it sets for itself and for the supply chain for ensuring that human rights are respected globally and that forced and child labour as well as all forms of exploitation are prevented. Information should also be provided on the results of the measures and on any relevant risks.

Respect for human rights is entrenched as a core value at Rentenbank and serves to strengthen sustainable development. In 2020, Rentenbank drafted the Declaration by Landwirtschaftliche Rentenbank on respect for human rights and the core labour standards of the International Labour Organization (ILO), in which it professes itself explicitly to protecting human rights and adhering to the core labour standards of the International Labour Organization (ILO), and to positioning itself against forced labour, child labour and discrimination.  

As a federal public law institution with a statutory promotional mandate, Rentenbank is dedicated to the common good. As part of its responsibility to its stakeholders and society, Rentenbank professes itself to democracy, human rights and equal opportunities. Our internal documents, including the code of conduct as well as policies and procedures, reflect this obligation.

All Rentenbank employees work at one site in Frankfurt am Main. Rentenbank considers the protection of human rights to be a matter of course and goes beyond the requirements of the ILO core labour standards. In addition to fair remuneration, Rentenbank is committed to providing a healthy and attractive working environment. It offers a variety of options for further training and attaches importance to diversity, inclusion, and reconciling work and family life.

An external consultancy helped to identify risks for breaches to human rights as part of Rentenbank’s sustainability project in 2020. This especially concerned potential risks to human rights in our promotional business. Through its statutory mandate as a promotional bank for agribusiness and rural areas, Rentenbank is focused on Germany and the EU. On this basis, there are no major risks for breaches to human rights. A quantified objective is a zero-tolerance policy in relation to breaches of human rights in Rentenbank’s value chain. However, Rentenbank does not have any direct contact with end borrowers, so scope for direct exposure is limited.

As a bank, we have comparatively few suppliers and service providers, and they are mainly registered in Germany or Europe. We take ecological and ethical aspects into consideration when we make decisions on suppliers and service providers. As an authority contracting within the realms of its status as a public law institution, Rentenbank tenders contracts above fixed thresholds within the framework of procurement law across Europe. Here, the applicable legal obligations are complied with and European standards regarding human rights are safeguarded.

Due to Rentenbank’s business model, the risk of organised breaches to human rights in its value chain are categorised as being very slight. Therefore, we have not set any specific objectives.

If, despite the slight risk, human rights breaches do occur within our promotional business, HR management or banking operations, there is the option of informing the bank by using an online contact form. This way, details about the complaint can be given and any information required for the investigation can be swiftly submitted. No complaints have been raised to date in relation to breaches of human rights. Should such complaints reach Rentenbank, they will be examined immediately and measures will be taken as necessary. Measures would vary according to the type and extent of the breach.

Key Performance Indicators to criteria 17

Key Performance Indicator GRI SRS-412-3: Investment agreements subject to human rights screenings
The reporting organization shall report the following information:

a. Total number and percentage of significant investment agreements and contracts that include human rights clauses or that underwent human rights screening.

b. The definition used for ‘significant investment agreements’.

By dint of its statutory mandate, Rentenbank is focused on Germany and the EU. The risk of organised breaches to human rights in its value chain are categorised as being very slight.

As an authority contracting within the realms of its status as a public law institution, Rentenbank tenders contracts above fixed thresholds (2020: EUR 214,000) within the framework of procurement law across Europe. Here, the applicable legal obligations are complied with and European standards regarding human rights are safeguarded. In 2020, Rentenbank invited tenders nine times across Europe. In the case of one contract, Europe-wide tendering was stopped due to the company's unique selling point. Therefore, 89% of contracts contained human rights clauses.

Key Performance Indicator GRI SRS-412-1: Operations subject to human rights reviews
The reporting organization shall report the following information:

a. Total number and percentage of operations that have been subject to human rights reviews or human rights impact assessments, by country.

Rentenbank considers the protection of human rights to be a matter of course with regard to its employees and goes beyond requirements of the ILO core labour standards. All of the business premises were checked for conformance with human rights. Hochstraße 2 in Frankfurt is our only business site. In addition to fair remuneration, Rentenbank is committed to providing a healthy and attractive working environment. It offers a variety of options for further training and attaches importance to diversity, inclusion, and reconciling work and family life. Extensive information about this can be found under criterion 14 (Employment Rights).

Key Performance Indicator GRI SRS-414-1: New suppliers subject to social screening
The reporting organization shall report the following information:

a. Percentage of new suppliers that were screened using social criteria.

As an authority contracting within the realms of its status as a public law institution, Rentenbank tenders contracts above fixed thresholds within the framework of procurement law across Europe. Thus, the applicable legal obligations are complied with and European standards regarding human rights are safeguarded. We take ecological and ethical aspects into consideration when we make decisions about suppliers and service providers below the defined thresholds. This also includes the fact that Rentenbank does not enter into any business transactions which could have a detrimental effect on the Bank’s reputation. A code of conduct for Rentenbank’s external contractors is supposed to obviate situations in which the integrity and reputation of Rentenbank could be damaged. Breaches to human rights clearly belong in this category, too.

As our purchasing at Rentenbank is on a small scale, it is organised in a decentralised manner and these figures cannot currently be captured. Therefore, currently no specific figures for a 'social inspection' of suppliers can be deduced.

Key Performance Indicator GRI SRS-414-2: Social impacts in the supply chain
The reporting organization shall report the following information:

a. Number of suppliers assessed for social impacts.

b. Number of suppliers identified as having significant actual and potential negative social impacts.

c. Significant actual and potential negative social impacts identified in the supply chain.

d. Percentage of suppliers identified as having significant actual and potential negative social impacts with which improvements were agreed upon as a result of assessment.

e. Percentage of suppliers identified as having significant actual and potential negative social impacts with which relationships were terminated as a result of assessment, and why.

As a bank, we have comparatively few suppliers and service providers and they are almost all in countries registered in Germany or Europe with very high social standards. In the 2020 financial year, we did not feel it necessary to carry out checks for social issues due to the fact that this was hardly relevant.

Rentenbank monitors the quality and appropriateness of the provision of services of its suppliers and service providers. We would have taken the necessary steps had we uncovered any misconduct. Rentenbank has not been made aware of any breaches to human rights by our suppliers/service providers and nor have we established any ourselves.

18. Corporate Citizenship

The company discloses how it contributes to corporate citizenship in the regions in which it conducts its core business activities.

As a good corporate citizen, Rentenbank supports local cultural institutions and selected projects located near its office in Frankfurt am Main. We regularly support Oper Frankfurt, Schirn Kunsthalle, Städel Museum, the English Theatre and the Städelschule (State Academy of Fine Arts), among others. We nurture young talent at the Städelschule through our annual donation of a group prize. Furthermore, we support the Alte Oper Frankfurt’s PEGASUS programme for children and young people. For the academic year 2020/21, we awarded a one-year bursary (extended by the same amount by the Federal Republic of Germany) to six students at the Goethe University Frankfurt and to two students at the Frankfurt University of Music and Performing Arts.

Our local Christmas donations have supported the Goethe Corona Fund jointly run by Goethe University Frankfurt and the University Hospital, the Maltese Aid Service Frankfurt, St Katherine’s Hospice, the food provided throughout the winter by St Katherine’s community, Human Rights Watch Frankfurt Committee, and the reforestation of the Frankfurt City Forest which has been damaged by drought.

Key Performance Indicators to criteria 18

Key Performance Indicator GRI SRS-201-1: Direct economic value generated and distributed
The reporting organization shall report the following information:

a. Direct economic value generated and distributed (EVG&D) on an accruals basis, including the basic components for the organization’s global operations as listed below. If data are presented on a cash basis, report the justification for this decision in addition to reporting the following basic components:
i. Direct economic value generated: revenues;
ii. Economic value distributed: operating costs, employee wages and benefits, payments to providers of capital, payments to government by country, and community investments;
iii. Economic value retained: ‘direct economic value generated’ less ‘economic value distributed’.

b. Where significant, report EVG&D separately at country, regional, or market levels, and the criteria used for defining significance.

For economic indicators, please see 2020 Annual report.

Key figures relating to Rentenbank's social commitment:

Donations € 136,600.00
Arts and culture € 38,800.00
Research and education € 42,800.00 
Charity € 52,000.00

19. Political Influence

All significant input relating to legislative procedures, all entries in lobby lists, all significant payments of membership fees, all contributions to governments as well as all donations to political parties and politicians should be disclosed by country in a differentiated way.

The Governing Law of Rentenbank (LR-Gesetz) governs its legal form, business purpose and remit.

Rentenbank is a member of the Association of German Public Banks (Bundesverband Öffentlicher Banken Deutschlands e.V., VÖB) and the European Association of Public Banks (EAPB). VÖB advocates for the concerns of its membership vis-à-vis the legislative bodies of the federal government and its federal states (Länder), supervisory and regulatory authorities at national and international level, as well as the media and the public. Rentenbank participates in all major matters relating to its banking business and regulation through its committee work as part of its collaboration with VÖB.

In accordance with its code of conduct, Rentenbank does not makes any financial or other direct or indirect donations to political parties.

Key Performance Indicators to criteria 19

Key Performance Indicator GRI SRS-415-1: Political contributions
The reporting organization shall report the following information:

a. Total monetary value of financial and in-kind political contributions made directly and indirectly by the organization by country and recipient/beneficiary.

b. If applicable, how the monetary value of in-kind contributions was estimated.

In accordance with its code of conduct, Rentenbank does not make any financial or other direct or indirect donations to political parties.

20. Conduct that Complies with the Law and Policy

The company discloses which measures, standards, systems and processes are in place to prevent unlawful conduct and, in particular, corruption, how they are verified, which results have been achieved to date and where it sees there to be risks. The company depicts how corruption and other contraventions in the company are prevented and exposed and what sanctions are imposed.

The public perceives Rentenbank in a special way due to its promotional mandate. It is absolutely crucial that all committees’ and employees’ conduct is impeccable for the Bank to succeed. This is based upon a culture of compliance which is actively embraced by the Management Board and all employees, and complemented by monitoring processes to prevent unlawful conduct. Rentenbank has a zero-tolerance approach to corruption, fraud and other criminal activities as part of its approach (objective: 0 incidents), and it sanctions offences with disciplinary measures and, if necessary, criminal proceedings. This objective has always been attained in the last few years.

Public Corporate Governance Code
As Rentenbank recognises that effective corporate governance is very important and demands the utmost integrity from all those involved in these activities, Rentenbank’s Supervisory Board adopted the Public Corporate Governance Code (version as of 30 June 2009) that was approved by the federal government on 16 July 2009. Rentenbank’s Management and Supervisory Boards identify with and recognise the principles of the PCGK. Any deviations from the principles of the PCGK are disclosed and explained in the declaration of conformity on an annual basis. 

Codes of conduct
Rentenbank has produced a code of conduct for all employees. This forms the cornerstone of a legally-compliant and ethically-oriented, sustainable corporate culture and is further supplemented by specific policies for preventing criminal activities or accepting gifts and invitations. Employees can access all relevant policies posted on the Bank’s intranet. In the event of criminal activity or misconduct, employees can approach their line managers or the Compliance or Money Laundering Officers in confidence or, if preferred, anonymously via an external ombudsman. Members of the Management Board are subject to a special code of conduct. This includes key principles relating to conflicts of interest, regulations about the giving and receiving of gifts and invitations, presentations, trading on the financial markets, as well as sideline activities and honorary positions.

Prevention of money laundering and other criminal activities
The Bank has appointed a Money Laundering Officer to prevent money laundering, terrorist financing and other criminal activities. The Money Laundering Officer reports directly to the Management Board. They produce a risk analysis on the aforementioned issues on an annual basis and assess the risks associated with clients and business partners as well as risks related to products, processes and transactions.

Carrying out identity checks of contractual partners (know-your-customer principle) is one of the most important parts of complying with the diligence obligations required within anti-money laundering regulations. We abide by all the relevant procedures and processes required. In this regard, Rentenbank’s special business model as a promotional bank in Germany and Europe and the allocation of loans in line with the principle of using local banks in order to mitigate risk are taken into account.

Employees and people of a comparable role are expected to report anything suspicious or potential breaches to money laundering obligations to the Money Laundering Officer, or get in touch with the ombudsman for Rentenbank while retaining the confidentiality of their identity. Suspected cases of money laundering are submitted immediately by the Money Laundering Officer to the Financial Intelligence Unit of the Central Customs Authority (Germany). We are not aware of any breaches due to money laundering, terrorist financing and other criminal activities in 2020.

Data protection
Rentenbank implements the legal requirement of General Data Protection Regulation (GDPR) and the Federal Data Protection Act. New starts are required to comply with these standards. Our appointed data protection officer is the spokesperson and contact person for any matters relating to data protection, and reports directly to the Management Board.

Employee training
The Bank is heightening awareness among its employees about the important provisions through regular compulsory training sessions, especially regarding money laundering, fraud prevention, data protection and information security. Participation is monitored. In addition, regular employee training sessions on topics ranging from current developments/methodology to precautionary instructions take place.

Additional controls
Over and above the regular monitoring activities undertaken by the Compliance and Money Laundering Officers, Internal Audit and external autonomous auditing companies also carry out annual checks. An exact description of how Rentenbank organises its risk management can be found in the Management Report within our Annual Report.

Risks
Risks arise during the approval of loans and grants as well as in the procuring of or granting of contracts. Due to our on-lending through local banks, almost all of Rentenbank’s business partners are credit institutions based in Germany or Europe. Therefore, minimal risk may generally be assumed.

Key Performance Indicators to criteria 20

Key Performance Indicator GRI SRS-205-1: Operations assesed for risks related to corruption
The reporting organization shall report the following information:

a. Total number and percentage of operations assessed for risks related to corruption.

b. Significant risks related to corruption identified through the risk assessment.

All of Rentenbank’s business premises were checked for corruption risks (Hochstraße 2 in Frankfurt is the only site). Cf. criterion 20.

Key Performance Indicator GRI SRS-205-3: Incidents of corruption
Die berichtende Organisation muss über folgende Informationen berichten:

a. Total number and nature of confirmed incidents of corruption.

b. Total number of confirmed incidents in which employees were dismissed or disciplined for corruption.

c. Total number of confirmed incidents when contracts with business partners were terminated or not renewed due to violations related to corruption.

d. Public legal cases regarding corruption brought against the organization or its employees during the reporting period and the outcomes of such cases.

In the reporting year, no cases of fraud and/or corruption were discovered or reported at Rentenbank.

Key Performance Indicator GRI SRS-419-1: Non-compliance with laws and regulations
The reporting organization shall report the following information:

a. Significant fines and non-monetary sanctions for non-compliance with laws and/or regulations in the social and economic area in terms of:
i. total monetary value of significant fines;
ii. total number of non-monetary sanctions;
iii. cases brought through dispute resolution mechanisms.

b. If the organization has not identified any non-compliance with laws and/or regulations, a brief statement of this fact is sufficient.

c. The context against which significant fines and non-monetary sanctions were incurred.

None