VP Bank receives the "Wealth For Good Award" for the VP Bank Sustainability Score
The awards, the first of their kind, recognise the world's most ethical firms in wealth management. The awards recognise outstanding organisations that, according to the independent judging panel, "have demonstrated during the year their commitment to the highest standards in their relationships with clients, colleagues and the wider community."
This award provides clients with the assurance that their business partners meet the highest standards in the industry as well as represent the soundness and sustainability of the winner's business model.
For VP Bank, sustainability goes beyond classic ESG ratings. For this reason, the multidimensional VP Bank Sustainability Score (VPSS) was developed. The VPSS represents the cornerstone of VP Bank's sustainability approach to the investment process. Investors can use the score to identify sustainability opportunities and risks for each investment. Thus, the VPSS is not only aimed at investors with a high sustainability preference.
Bernd Hartmann, Chief Strategist and Head of CIO Office of VP Bank Group: "While we include the ESG rating as one of the central components in the calculation of the VPSS, we go one step further. We also take into account controversial behaviors and activities of companies as well as their contribution to the UN Sustainable Development Goals. For us, the award is further proof that this approach brings clear benefits to customers."
Paul Arni, CEO of VP Bank Group: "By developing its own sustainability indicator, VP Bank is underscoring the importance of this topic for the Bank's future. The VP Bank Sustainability Score is far more than a useful tool in the daily work of client advisory and asset management. Thanks to our own comprehensive assessment, we can distinguish ourselves from other banks."