Independent public-law institution
Zürcher Kantonalbank is an independent public-law institution of the canton of Zurich. The bases for its
business activities are defined in the Cantonal Bank Law. Particular importance is attached to the article defining the purpose of the bank. It sets forth those dimensions within which the bank makes a contribution
to the welfare of the canton. In the guidelines on implementation of the public service mandate, the board
of directors has specified how the bank implements the statutory requirements in specific business terms.
The wording of the bank’s legal foundation imposes on it a threefold obligation:
- to provide the people and business with banking services
- to promote home ownership and agriculture, to support the construction of affordable housing and to support SMEs;
- to support the canton of Zurich in the fulfilment of its economic, environmental and social responsibilities as well as to comply with principles of sustainability in all of our business activities in Switzerland and abroad.
Zürcher Kantonalbank has a Public service mandate
Sustainability is par of our Public service mandate. As part of the strategy process, the board of directors,
committee of the board and executive board deal on a regular basis with the subject of the public service
mandate. They ensure that the statutory parameters and strategically defined targets are met. The committee of the board is assigned special responsibility for control and monitoring for the fulfilment of the public service mandate. The central body is the internal specialist committee for the public service mandate, which is managed by the head of Corporate Responsibility. It advises and supports the bank’s governing bodies and business units on all aspects of the public service mandate and reports annually on the fulfilment of the mandate to the supervisory committee of the cantonal parliament. All business units are represented on the steering committee for the public service mandate by a manager with responsibility for the relevant area. The specialist area of the public service mandate is part of Corporate Development. It coordinates planning, implementation and reporting of the public service mandate and all associated activities. It also prepares the business of the steering committee for the public service mandate. Various specialist areas within the individual business units assist with the achievement of objectives. In the field of sustainble/responsible investments those individual business units are:
- ESG-Solutions Team in the Equity Department (Asset Management)
- Analysts, portfoliomangers and product specialists in several Asset Management departments
- A specialist unit in the legal department is responsible for the implementation of our voting activities
- In 2016 we further established a specialist unit for the coordination of our responsible investment activities in the product management department.
In addition to the mentioned business units above we have an external RI Advisory Committee: Zürcher Kantonalbank's Sustainability Advisory Committee for sustainable/responsible investments constantly checks whether the securities in the sustainable funds satisfy Zürcher Kantonalbank's strict sustainability requirements and contributes to the maintenance and promotion of the quality of sustainable products. Further the Advisory Committee gives a yearly feedback on the stand of the ESG-Integration in the different investment activities of Zürcher Kantonalbank. The external Sustainabilty Advisory Committee is coordinated by the specialist unit for the coordination of our responsible investment activities of Zürcher Kantonalbank and reports to the Chief Investment Officer, to the head of Asset Management and to the head Product Management of Investment Solutions.