OREANDA-NEWS. May 30, 2012. Latvia’s Sustainability Index assessment results for 2012 were announced where Swedbank has been awarded the Gold Status. Swedbank also received the Family Friendly Business title which is awarded by the Ministry of Welfare in cooperation with the Sustainability Index.

As defined by the Sustainability Index, companies with the Gold Status demonstrate openness and transparency, publicly communicating all the key aspects of sustainability. They strive to expand and adapt their risk management processes by covering the main aspects of corporate social responsibility. The corporate social responsibility strategies of such companies comprise clear and measurable targets.

The Family Friendly Business title, in turn, is awarded to companies that adhere to family friendly policies both in their business operations and in the wider context of the society, for example, by delivering services and ensuring appropriate environment.

Based on an internationally accepted methodology, the Sustainability Index allows assessing the activates of a company in five areas – company’s strategy, working environment, market relations, environmental impact and the society. The initiators of the Sustainability Index are nation-wide social partners – the Latvian Employers’ Confederation and the Union of Free Trade Unions of Latvia which have engaged various experts in the field of sustainability to implement the project.