Responsibility and Trust

GRENKE is committed to responsible corporate governance and manages and monitors its processes accordingly. We possess a compliance management system, money laundering and fraud prevention, and a system for information security. Respectful and ethically correct behavior are essential for us and are therefore anchored in writing in the GRENKE Code of Conduct.

Leading by Example

As a company in the financial sector, acting in a legally binding and ethical manner is fundamental. To ensure this, GRENKE has numerous measures, structures, and processes in place that are controlled by a comprehensive compliance management system.

Compliance Management

Our Compliance Management at GRENKE.

Money Laundering and Fraud Prevention

We rely on various measures to prevent money laundering and fraud.

Information Security

A glance at our Information Security Management System at GRENKE.

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Risk Management

We secure our sustainable success through careful risk management. We integrate current developments and circumstances, such as the opportunities and risks of climate change, into our risk management.

Corporate Risk Management

At GRENKE, we assess our corporate risks taking into account ESG risk drivers. We define sustainability risks as risks resulting from material ESG topics. They are seen as drivers that can materialise in the known risk types. Accordingly, physical and transitory risks are considered, analysed and categorized along the ESG dimensions per risk type as part of the risk inventory.

Internal Audits

Internal Audit provides independent and objective auditing and consulting services on behalf of the Board of Directors. This ensures the maintenance, continuous improvement and control of the governance and compliance structure.

Reporting and Transpareny

The dialogue with our stakeholders and the results of our materiality analysis form the basis of our sustainability strategy and our non-financial reporting. For a constructive exchange with our stakeholders, we have several departments that interact with internal and external stakeholders.

Global Reporting Initiative (GRI)

Our non-financial statement is set-up according to the "With Reference" option of the Sustainability Reporting Standards of the Global Reporting Initiative (GRI SRS). This generally applies to standards GRI 1 to 3 as well as the thematic standards on economy (GRI 200 series), ecology (GRI 300 series) and governance (GRI 400 series).

Taxonomy

With the EU taxonomy (EU Regulation 2020/852), the European Commission implemented a uniform disclosure of sustainability-related key performance indicators throughout Europe as part of non-financial reporting. Focus of the EU taxonomy is on the environmental goals of "climate protection" and "adaptation to climate change".

UN Sustainable Development Goals (SDGs)

We are committed to mitigating negative impacts and creating positive impacts for a sustainable future in line with the United Nations Sustainable Development Goals. The following SDGs are particularly relevant to our business model:

Climate & Environment: 7 Affordable and clean energy, 12 Sustainable consumption and production, 13 Climate action.

Social contribution: 3 health and well-being, 4 quality education, 5 gender equality

Responsibility and trust: 8 decent work and economic growth, 9 industry, innovation and infrastructure, 17 partnerships to achieve goals

Compliance and data protection

Compliance Management

Our Group-wide compliance management system (CMS) helps us to meet the various international requirements and prevent risks. In order to ensure compliance with all national and international requirements and guidelines, all countries in which we are represented also have local compliance officers. Our whistleblower platform "GRENKE Integrity Line" offers all internal and external stakeholders the opportunity to bring potential breaches of regulations to our attention - at any time and in complete anonymously.

Money laundering and fraud prevention

We counter potential money laundering and criminal activities with our specially qualified staff, work instructions, guidelines and checks. For this purpose, we have appointed national money laundering officers throughout the Group who ensure legal compliance. Our business partners are regularly trained and informed about regulations and developments in money laundering. In addition, we are setting up an IT-supported transaction monitoring and KYC tool, which will automate and digitalise these processes.

Data protection

We continuously develop our data protection management system further. In this way, we ensure that data processing in the Consolidated Group is carried out in compliance with the law at all times, that potential violations are recognised at an early stage, and that appropriate countermeasures are taken. In order to meet the major challenges in data protection, both GRENKE AG and its subsidiaries have each appointed data protection officers in accordance with legal requirements and created a central office for operational data protection. The data protection officers and operational data protection are also available to our customers, business partners and employees as expert contacts.

Information security

In order to protect the information we process in the best possible way, we are constantly developing our information security management system further. Compliance with regulations and laws, in particular the minimum requirements for risk management (MaRisk) and the banking supervisory requirements for IT (BAIT), are the basis of our actions. All measures, processes and controls are based on the ISO27001 standard and the IT security maturity model according to COBIT (internationally recognised framework for IT governance) and are being successively expanded.

Money laundering and fraud prevention

We counter potential money laundering and criminal acts with our specially qualified employees, work instructions, guidelines and checks. For this purpose, we have appointed national money laundering officers throughout the Group to monitor and assure legally compliant actions. Further, our retail partners receive regular training and information on money laundering regulations and developments. In addition, we are setting up an IT-based transaction monitoring and KYC tool that will automate and digitize what were previously largely manual processes.

Information Security

In order to protect the information we process in the best possible way, we are constantly developing our information security management system. Compliance with regulations and laws, in particular the minimum requirements for risk management (MaRisk) and the banking supervisory requirements for IT (BAIT), form the basis of our actions. All measures, processes and controls are based on the ISO 27001 standard and the IT security maturity model according to COBIT (internationally recognized framework for IT governance) and are being successively expanded.

Corporate Governance

Here you find further information regarding our Corporate Governance.

 

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