GRENKE around the globe
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.
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, corporate risks are evaluated with consideration given to ESG risk factors. Sustainability risks are defined as those stemming from significant ESG issues, viewed as factors that may manifest within known risk categories. As part of the risk assessment process, both physical and transitional risks are examined, categorized, and assessed across ESG dimensions for each risk category.
Internal Audits
The Internal Audit department offers independent and objective auditing and advisory services on behalf of the Executive Board. This guarantees the upkeep, enhancement, and oversight of the governance and compliance framework.
Reporting and Transpareny
Our sustainability strategy and non-financial reporting are founded on the dialogue with our stakeholders and the findings of our materiality analysis. We have various departments dedicated to engaging in dialogue with both internal and external stakeholders, fostering a constructive exchange with these key groups.
Global Reporting Initiative (GRI)
The non-financial statement (NfE) is compiled in accordance with the 'With Reference' option of the Sustainability Reporting Standards outlined by the Global Reporting Initiative (GRI SRS). This typically encompasses standards GRI 1 to 3, as well as the topic-specific standards covering economy (GRI 200 series), ecology (GRI 300 series), and governance (GRI 400 series).
Taxonomy
Under the EU taxonomy (EU Regulation 2020/852), the European Commission mandates standardized disclosure of sustainability-related key performance indicators across Europe as part of non-financial reporting. Our primary leasing activities can largely be categorized as compliant with the delegated act on environmental objective 4, focusing on the transition to a circular economy. Additionally, our eBike business, aimed at promoting sustainable mobility among SME customers, has been recognized as compliant with environmental objective 1, addressing climate action.
UN Sustainable Development Goals (SDGs)
We are dedicated to reducing the adverse effects of our operations while fostering positive impacts for a sustainable future in alignment with the United Nations Sustainable Development Goals (SDGs). The following SDGs are particularly pertinent to our business model: Climate & environment: SDG 7: Affordable and clean energy, SDG 12: Sustainable consumption and production, SDG 13: Climate action. Social contribution: SDG 3: Good health and well-being, SDG 4: Quality education, SDG 5: Gender equality. Responsibility and trust: SDG 8: Decent work and economic growth, SDG 9: Industry, innovation and infrastructure, SDG 17: Partnerships to achieve the goals
Compliance and data protection
Compliance Management
We are constantly evolving our data protection management system to ensure that data processing within the Consolidated Group is always in compliance with the law, enabling early detection of potential violations and implementing appropriate countermeasures. To address the significant challenges in data protection, both GRENKE AG and its subsidiaries have appointed data protection officers in accordance with legal requirements and established a central office for operational data protection. These data protection officers and the operational data protection team serve as expert contact persons for our customers, business partners, and employees.
Money laundering and fraud prevention
We combat potential money laundering and criminal activities through our specially trained employees, detailed work instructions, guidelines, and controls. In pursuit of this goal, we have designated national money laundering officers across the Group to oversee compliance with legal standards. Our specialized retail partners undergo regular training and receive updates on money laundering regulations and trends. Additionally, we are implementing an IT-supported transaction monitoring and Know Your Customer (KYC) tool to enhance automation and digitization of these processes.
Data protection
We are constantly evolving our data protection management system to ensure that data processing within the Consolidated Group is always in compliance with the law, enabling early detection of potential violations and implementing appropriate countermeasures. To address the significant challenges in data protection, both GRENKE AG and its subsidiaries have appointed data protection officers in accordance with legal requirements and established a central office for operational data protection. These data protection officers and the operational data protection team serve as expert contact persons for our customers, business partners, and employees.
Information security
We continuously enhance our information security management system to ensure optimal protection for the information we handle. Our efforts are guided by compliance with regulations and laws, notably the Minimum Requirements for Risk Management (MaRisk) and the banking supervisory requirements for IT (BAIT). All our measures, processes, and controls are aligned with the ISO27001 standard and the IT security maturity model according to COBIT, a globally recognized framework for IT governance, and are progressively expanded over time.
Corporate Governance
Here you find further information regarding our Corporate Governance.
