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.