IBRC annual report for 2011 - Irish Bank Resolution Corporation ...

More documents

Recommendations

Info

Corporate ResponsibilityIntroductionAt IBRC we recognise our corporate obligations andresponsibilities and are committed to fulfilling them.The management and staff of the Bank believe that acommitment to supporting the development of the widercommunity is an important part of our corporate responsibility.The Bank continually invests in the development and trainingof our staff, as well as maintaining quality relationships withour stakeholders. We also take a responsible approach toenvironmental issues and are proactive in seeking innovativeways in which to become more efficient.EnvironmentAs a corporate citizen, IBRC recognises its responsibility to theenvironment and aims to operate in a way which minimises itscarbon footprint. We take a responsible approach toenvironmental issues and are proactive in seeking innovativeways in which to become more efficient. The Bank has anEnergy Statement which recognises the importance ofpractising energy efficiency to minimise costs and impact onthe environment.Carbon footprintWe monitor our carbon footprint as an organisation and haveinitiated measurement of the Bank’s impact on theenvironment. We obtain carbon tracking reports from anumber of our suppliers. It is our preference to source and dealwith environmentally focused and aware suppliers and wehave incorporated this preference into our tenderingprocesses.We continue to track three elements of the Bank’s impact onthe environment, measuring electrical, gas and waterconsumption in the majority of our offices.Energy consumptionThe Bank’s main energy supplier is a company which iscommitted to sourcing most of its energy supplies fromrenewable sources. In Ireland, the Bank participated in theElectricity Winter Demand Reduction Scheme from December2011 to March 2012. Available information to date confirmsthat we achieved our committed reduction in electricalconsumption.It is Bank policy to recycle paper, cardboard, glass andcomputer consumables where possible. All electronic andelectrical equipment is disposed of in a safe andenvironmentally responsible way as stipulated in the EU WasteElectrical and Electronic Equipment Directive. In addition, theuse of video, web meetings and teleconferencing facilitiesacross all offices is reducing our business travel and thereforeminimising our carbon footprint.CommunityWe believe that a commitment to supporting the developmentof the wider community is an important part of ourresponsibility as a corporate citizen.The Bank’s Corporate Social Responsibility agenda hashowever significantly reduced since nationalisation. We haveretained a limited number of community based pillar activitiesto ensure that the Bank does its part in encouraging socialinclusiveness and supporting the young and disadvantaged.Much of the work done in this context is rooted in thegenerosity and commitment of our staff who give their timeand effort to support a wide range of worthwhile causes.Warrenmount School, DublinIn Ireland, IBRC is committed to supporting our mentoringprogramme for secondary level students of WarrenmountSchool, located in the Liberties district of Dublin, during theacademic year 2011/2012. We started this programme in 2000and since then it has received widespread commitment fromstaff who, with the Bank’s support, offer their time to helpstudents realise their full potential. To date, over 130 membersof staff have been involved with the Warrenmount initiative.The mentoring scheme enables pupils to develop importantpersonal and professional skills which will benefit their futurelives and careers.Dublin City University & University of LimerickThe Bank comprises a well-educated staff, many of whom havebeen fortunate enough to avail of a third level education.Supporting those less fortunate to attain a third level educationis the rationale behind our Access Scholarship Programmes fordisadvantaged students in Dublin City University and Universityof Limerick. In close co-operation with the universities, theseprogrammes are structured to ensure the participatingstudents are supported throughout the duration of theirchosen degree course.Giving programmesThe Bank has a history of supporting a number of charities. Anumber of Irish based employees participate in a ‘Give As YouEarn’ scheme in support of Children Direct, a partnership offive Irish children’s charities: Temple Street Children’s Hospital,the ISPCC, Enable Ireland, Focus Ireland and ActionAid Ireland.Under this initiative, which has been in place since 2004,monthly donations made by staff are matched by the Bank.It is important to the Bank to continue to increase theenvironmental awareness of the Group’s staff. In 2011, wecontinued to increase our waste recycling rates throughimproved waste segregation methods and awareness amongststaff in our Dublin offices. These are now being formallymeasured and reported on by our service providers on amonthly basis. We will continue to focus our attention in 2012on further reducing resource consumption and maintainingresponsible methods of waste disposal.16
Corporate Responsibility continuedIrish Bank Resolution Corporation LimitedAnnual Report & Accounts 2011WorkplaceWe are a business in wind-down with a highly important job todo before full resolution of the Bank in 2020. Between nowand then, our collective objective is to achieve the very bestreturn for the Irish taxpayer. To do this, we need a high calibre,specialist and focused workforce with the necessary expertiseand experience capable of achieving the best result possible.The Bank therefore continues to invest in the training,development and well-being of our staff. We aim to developour staff by furthering their technical and specialistcompetencies. This ensures that our employees receive theappropriate training to help them undertake their roles. Weassist employees in furthering their education. This includesfunding to cover approved course fees and study leave inadvance of exams.Employee well-being is of continual importance to us. We runan Employee Well-Being scheme, which is available to staff inIreland and is operated in conjunction with an independentconsultancy firm. This service offers confidential support tostaff. Similar programmes exist for UK staff (EmployeeAssistance Programme) and US staff (Ability Assist).The staff, management team and Board aspire to uphold a setof core values and principles by which to operate in the bestinterests of all our stakeholders - the Minister for Finance,customers, suppliers, regulatory bodies and the community.Health and safetyIn line with health and safety legislation, the Bank is committedto achieving the highest standards of safety, health andwelfare for its employees, contractors and visitors in theworkplace.As required by Section 20 of the Safety, Health and Welfare atWork Act 2005, the Bank has prepared a written SafetyStatement outlining our policies on occupational health andsafety matters and defining the necessary managementstructure for the implementation of these policies. This SafetyStatement is reviewed annually, or as required by changes inlegislation and/or work practices in the Bank.17
Page 1 and 2: Irish Bank Resolution Corporation L
Page 3 and 4: ContentsIrish Bank Resolution Corpo
Page 5 and 6: Chairman’s statementIrish Bank Re
Page 7 and 8: Group Chief Executive’s reviewIri
Page 9 and 10: Group Chief Executive’s review co
Page 11 and 12: Business review continuedIrish Bank
Page 17: Board of DirectorsIrish Bank Resolu
Page 21 and 22: Principal risks and uncertainties c
Page 23 and 24: Principal risks and uncertainties c
Page 25 and 26: Report of the DirectorsIrish Bank R
Page 27 and 28: Corporate governance statementIrish
Page 29 and 30: Corporate governance statement cont
Page 31 and 32: Corporate governance statement cont
Page 33 and 34: OpinionIn our opinion:• the Group
Page 35 and 36: Consolidated statement of comprehen
Page 37 and 38: Bank statement of financial positio
Page 69 and 70:
Irish Bank Resolution Corporation L
Page 71 and 72:
Page 73 and 74:
Page 75 and 76:
Page 77 and 78:
Page 79 and 80:
Page 81 and 82:
Page 83 and 84:
Page 85 and 86:
Page 87 and 88:
Page 89 and 90:
Page 91 and 92:
Page 93 and 94:
Page 95 and 96:
Page 97 and 98:
Page 99 and 100:
Page 101 and 102:
Page 103 and 104:
Page 105 and 106:
Page 107 and 108:
Page 109 and 110:
Page 111 and 112:
Page 113 and 114:
Page 115 and 116:
Page 117 and 118:
Page 119 and 120:
Page 121 and 122:
Page 123 and 124:
Page 125 and 126:
Page 127 and 128:
Page 129 and 130:
Page 131 and 132:
Page 133 and 134:
Page 135 and 136:
Page 137 and 138:
Page 139 and 140:
Page 141 and 142:
Page 143 and 144:
Page 145 and 146:
Page 147 and 148:
Page 149 and 150:
Page 151 and 152:
Page 153 and 154:
Page 155 and 156:
Page 157 and 158:
Page 159 and 160:
Page 161 and 162:
Page 163 and 164:
Page 165 and 166:
Page 167 and 168:
Page 169 and 170:
Page 171 and 172:
Supplementary information (unaudite
Page 173 and 174:
Page 175 and 176:
Page 177 and 178:
Page 179 and 180:
Irish Bank ResolutionCorporation Li
show all

IBRC annual report for 2011 - Irish Bank Resolution Corporation ...

Create successful ePaper yourself

Delete template?

Save as template?