Human Rights

Commitment


To continuously enhance the Bank’s human rights practice and build awareness among employees to ensure proper management and alignment with regulations and international standards

Materiality


Human rights violations have become a pressing issue for the business sector, leading many parties such as the government sector, civil society, international organizations, investors and businesses to campaign for the upholding of human rights. We are fully aware of the importance of human rights for sustainability and understand that a business’s operations may involve human rights violations directly through its own business conduct or indirectly through the business activities of suppliers or customers, which could incur reputational risk and affect its credibility and relationships with communities or employees or result in financial consequences. Hence, we emphasize the importance of human rights risk management by promoting respect for human rights and adhering to legal principles and international standards, such as the Universal Declaration of Human Rights (UDHR) and the International Labour Organization (ILO) Conventions.

In addition, we conform to the United Nations Guiding Principles on Business and Human Rights (UNGP) and use it as a guideline for our management for establishing our human rights policy and practices, and conducting inclusive due diligence to identify and assess related human rights risks and impacts that may occur as a result of our business activities or those of our customers or suppliers. The same guiding principles are used to develop proper preventive and remedial measures in the event of human rights violations. These broad policy and specific actionable measures reflect our intention and commitment to human rights.
Management Approach
Human Rights Due Diligence Process

To conduct inclusive due diligence on human rights, we take all stakeholders into account including those vulnerable groups such as women workers, child labor, migrant workers, minors, disabled people and daily wage workers. The due diligence covers human rights violations as stipulated in domestic laws and the UDHR that are related to both our own undertakings and those of our suppliers and customers. In cases where existing measures are found inadequate to manage risk within acceptable levels, we will consider issuing additional measures or elevate the intensity of current ones as deemed appropriate. We have established appropriate human rights risk assessment measures and require regular monitoring and review of these, while at the same time providing channels for all stakeholders to file complaints related to human rights should they wish to do so. In cases where a violation of human rights is investigated and verified and actual damages are incurred to stakeholders, we shall make proper remedies to the affected people.


Labor Practice

We place high priority on strictly treating employees according to labor law and internal rules and regulations including those relating to employment, work, compensation, welfare, safety, occupational health and work environment, employees’ rights to organize and bargain collectively as well as other basic rights. If we are obliged to terminate employees for reasons other than their wrongdoing or retirement, we will follow the rules regarding the termination of employment and will pay severance pay in accordance with labor laws and additional family allowances as specified in the Bank’s regulations.

Fair and equitable employment and treatment of employees without discrimination against gender, race, religion, education or skin color are adopted by the Bank. We do not tolerate verbal, physical or sexual harassment which can lead to psychological damage. We also recognize and promote gender equality and do not tolerate gender discrimination in any form of employment or recruitment, nor in the workplace, and provide opportunities for employees’ skill development and career advancement.

Complaints Management

We treat employees fairly and equally and do not tolerate any form of harassment, sexual or any other kind, so that employees maintain good physical and mental health as well as a good morale to work and develop themselves to their full potential. We provide channels for complaints related to work conditions, unfair discrimination at work and other actions that breach work ethics, including sexual harassment and other kinds of harassment. Employees can file complaints in writing through the Employee Relations Unit under the Human Resources Department who will further submit the complaint to a committee assigned to investigate complaints to decide whether the alleged wrongdoing has indeed occurred. After that the case will be referred to the Audit and Control Division to consider appropriate action and punishment. Punishment of wrongdoers will be based on the severity of the case and ranges from verbal warnings and pay cuts to termination of employment and legal action. We ensure that all parties are treated fairly during the process and affected persons are remedied properly and fairly. In cases where the related parties disagree with the punishment, they can petition the Disciplinary and Petition Committee to make a final decision.

Supply Chain Management

To manage human rights risks within our supply chain, we have issued the Code of Conduct for Suppliers which we expect all suppliers to conform to. This code of conduct covers various human rights issues including respect for labor rights, community rights, personal data rights and intellectual property rights. We consistently monitor suppliers to ensure compliance with the code of conduct and are prompt to provide them advice so that they can strictly follow the suppliers’ code of conduct. The respect for human rights is one of the topics that we annually use in our assessment of suppliers with regard to their ESG practices. The suppliers must meet the criteria we set before they are allowed to participate in our procurement and bidding processes. Moreover, we conduct ESG risk assessment (including human rights) for critical suppliers to identify significant risks which have not been duly mitigated and will issue appropriate measures to address them.

Lending Process Management

On our lending practices, we observe responsible lending guidelines and do not engage in lending to businesses using child labor or forced labor. In addition, we have established a process to assess ESG risks and impacts, including human rights and labor rights violations, that may result from projects that we consider to finance. In cases where the projects under consideration could potentially cause severe ESG impacts, borrowers must put in place clear and adequate preventive measures and mitigation plans.
Key Activities
Raising Awareness of Employees

Realizing the importance of awareness and understanding of human rights, we encourage our executives and employees to attend training and seminars on subjects related to human rights, especially those who work in functions related to customer and employee relations, procurement, lending, compliance and sustainability. Our executives and employees were given opportunities to join training programs hosted by government agencies, international organizations, civil society and the private sector on a regular basis throughout the year. We expect all attendees of training programs and seminars to apply the acquired knowledge for the benefit of the organization and society as a whole.

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