Materiality
Rakuten Bank will continue to work to contribute to the realization of a sustainable society as addressed in "Sustainability Declaration", "Materiality", and "SDG 17 GOALS".
Sustainability Declaration
Introduction
In light of the public nature of Rakuten Bank's banking business, we will ensure sound and efficient management practices based on our high level of self-discipline to build and maintain firm trust and established presence. Meanwhile, as a member of the Rakuten Group, Rakuten Bank shares the common set of "Mission, Vision, Values, and Principles" to be a global innovation company in the FinTech area and contribute to society while enhancing our corporate value and coexist with the society. We share in the corporate culture under the concept of "contributing to society by creating value through innovation and entrepreneurship" to address the managerial issues associated with "sustainability."
Recognition of the Current Situation and the Bank's Role
The "digital shift" rapidly developed due to the spread of the coronavirus continues to progress even as consumption and economic activities continue to normalize. Against this background, we have been questioning what the new society will be. To date, we have thoroughly implemented operations based on its "Basic Policy for Customer-Oriented Business Conduct" to contribute to our customers' asset formation and, by extension, to provide the flow of funds for sustainable economic development. However, to overcome the various problems we are facing and make the transition to a sustainable and resilient society, we are also required to make changes through bolder and more innovative actions. As a bank, we believe that our social responsibility and public role need us to be proactive in addressing environmental challenges, including climate change. As we see, traditional approaches are often stuck in many areas. The importance of continuing to create innovations that break conventional wisdom based on a corporate culture of combining intelligence, creativity, and passion for accomplishing anything and everything will only increase. We believe that the significance of our existence in society lies in our capacity to strengthen further our efforts to solve social issues while fulfilling our function in the financial market. It is our mission to be a pioneering digital bank that has promoted the digitization of financial services in this country, and we recognize that it is also our responsibility to pursue such a mission for future generations.
Toward Sustainable Business Management
As an internet bank without a physical branch network, we are environmentally friendly per se. We believe the basic policy we have adopted as our management philosophy is also consistent with that for sustainable business management. We reuse the same sentence as our "Basic Policy for Sustainable Business Management."
Basic Policy for Sustainable Business Management
As a member of Rakuten Group, Rakuten Bank is committed to its mission to "contribute to society by creating value through innovation and entrepreneurship." We will contribute to and coexist with society while enhancing our corporate values.
Materiality
Based on this understanding, we have identified the following materialities in our efforts for sustainable business management. We will fully demonstrate the Rakuten Group's mission in the FinTech area in light of the public nature of Rakuten Bank's banking business and contribute to solving environmental and social challenges.
Fulfillment of Social Responsibility and Public Role as a Critical Infrastructure Operator
- ① Risk Management, Advanced Risk Monitoring
- ② Ensure Robust Information Security and Operational Resilience
"Empowerment" of Each Stakeholder through Innovation
- ③ Innovation in Products and Services with Intelligence, Creativity, and Passion
- ④ Creating Values by Effective Data Use and Dialogue with Stakeholders
"Empowerment" of Society as a Whole through Increased Corporate Values
- ⑤ Ensure Fair and Ethical Business Practices
- ⑥ Coexistence with local communities, promotion of diversity and financial education
We will address these critical issues by reinforcing our commitment to the "Basic Policy for Customer-Oriented Business Conduct. "To maximize our limited management resources, we will mainly focus on the following areas with high expectations from our customers where we can expect positive effects reflecting the nature of our business.
Environmental Aspects: In addition to measuring the Group's greenhouse gas (GHG) emissions and striving to achieve 100% renewable energy conversion (RE100), we will establish and expand a system that provides benefits and preferential treatment to our corporate customers, mainly for their conversion to renewable energy, to support their carbon neutral efforts.
Social Aspects: We will establish and expand mechanisms that contribute to promoting diversity across generations and genders and provide education to improve financial and information technology literacy.
SDGs 17 GOALS
1.Governance
By providing innovative financial services utilizing data and AI on digital platforms, we will create common value with diverse stakeholders, including future generations. In addition, as a bank that operates in the highly public sector, we will develop an infrastructure that allows all stakeholders to live safely and securely. Furthermore, we will strive to improve further our compliance, risk management, system stability, and administrative solidity to enhance our corporate value through continuous development.
2.Environmental Protection and Climate Change Response
On the environmental side, to achieve carbon neutrality throughout our value chain, we, as a member of Rakuten Group, will contribute to the conversion towards the renewable energy (RE) through a trust scheme for the solar power generators, etc., measure the greenhouse gas (GHG) emissions, and make every efforts to achieve RE100, while promoting corporate customers to enjoy benefits in our services according to their conversion rate to the renewable energy, etc.
3.Promoting the diversity and Financial Education
Diversity is our driving force for innovation. We will nurture our human resource portfolio, not so common among the traditional banks, by providing career development opportunities that allow all employees, regardless of generation or gender, to feel fulfilled in their work and maximize their abilities. We will also promote diversity by expanding products and services for seniors and LGBTQ customers to realize a fair and sustainable society. We will make every effort to educate future generations to improve their financial and information technology literacy.
