However, ESG data regarding these efforts have not been reported yet. Regarding gender equality, the share of women in management and on the board has decreased ~10pp since 2019, which could be criticized but Vestjysk has a target of women occupying 40% of management positions by 2025. It is ABGSC’s view that Vestjysk is a bank that seeks an ethical relationship with its clients and that emphasises product and advisory governance.
On the client side, Vestjysk is focused on Goal # 11 by designating lending to renewable energy projects as a niche segment, educating staff on how to guide SME’s and farmers to sustainable solutions, and by providing green mortgage loans through DLR Kredit. As the bank has been fighting for its survival since the financial crises, ABGSC views it as natural that Vestjysk’s current ESG efforts are rather modest and its ESG data remain sparse, relative to peers. However, after the consolidation with DJS, the merged bank is the ninth largest bank in Denmark. From this point onw...
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