Our Socio-environmental Vision
Our socio-environmental responsibility policy contains the guidelines for our activities. This includes our relationship with employees, suppliers, partners, and clients, in regards to social and environmental issues.
We recognize our role in supporting the transition to a society that is more sustainable, fair, diverse, and inclusive. We base our business decisions on respect, transparency, and ethics.
Our people & management department is committed to guaranteeing the growth of the workforce in line with company values. To this end, we work on a number of fronts, such as the training and development program through the Proseek platform, to train, engage, and motivate staff. We promote diversity and inclusion of our employees while simultaneously focusing on hiring more women through a partnership with Fin4She (a platform that promotes greater gender equality in the financial sector). We also aim to increase the number of people with disabilities (PwD) and young apprentices.
As a financial institution, we strive to go beyond promoting democratic access to investment products. We see financial education as an important transformational factor in our industry. Thus, the goal is more than to simply offer products, but to provide financial education to empower our clients. We know that financial knowledge and investments go hand in hand.
Regarding social issues, we work to contribute to society not only through providing funding, but also with what we know best: transmitting financial knowledge.
We currently support institutions that carry out relevant social work to transform people’s lives:
A charitable institution founded by the Bank's controlling shareholder, Diniz Ferreira Baptista, whose main objective is to identify and support students from the public school system by promoting opportunities for young talent from underprivileged communities. To do so, the association provides full support offering scholarships of major private high schools for these students.
FESTU (Festival de Teatro Universitário)
A theater festival for young students who wish to showcase and develop their work. We participate by offering guidance on the best practices for managing the prize money that is offered to the winning finalists. Through this program they learn how to handle their personal finances and develop their vision as entrepreneurs in the arts sector.
A feature film that represents the reality of our youth’s education within the public system, highlighting Brazil’s socioeconomic reality and shedding light on the need for financial education. Because of the pandemic, the project is currently on standby. Further filming and launch are expected for 2022. In addition to production, meetings were held between our team and the feature film crew to promote discussions around education and the cultural market.
Projeto Cinema Nosso
A digital marketing education project for underprivileged women of color. We provide content related to financial independence and entrepreneurship to help them kick-start their journey in the job market. Aside from the support in the program’s educational curriculum, the goal is to put into practice a project in which the students will participate in content and training actions with our team.
Throughout 2021, we plan to implement an environmental and social governance (“ESG”) committee. The goal is to assess and centralize social and environmental fronts already in practice at the bank. This would be in order to increase the visibility and engagement of stakeholders, map and mitigate possible impacts on the sector, and to fulfill our sustainable purpose.
As part of this project, studies are being conducted with an expert ESG consulting firm. The result will be an integrated plan with short, medium, and long-term goals with proper engagement from our board, executives, and employees.
Some actions are being implemented considering the inclusion of ESG aspects in management. Such actions include, among others, the productivity and quality of the project with the implementation of tools that will help managers monitor and develop their teams. We will monitor adherence to the General Data Protection Regulation (GDPR), to ensure that the Bank’s new initiatives are always implemented following all policies established in the law. A revision of the entire supplier contracting process will include ESG aspects in procurement policies, among others.
Adaptation to COVID-19
We have been following public health recommendations and supporting remediation of the impacts of the COVID-19 pandemic. Our activities during the pandemic are being carried out mostly through remote work for employees. Most staff work from home without affecting any relationships maintained with clients. For the few employees who need to work at the office, there has been increased protection through provisions of COVID-19 testing, protective gear, and new safety protocols.
Our business model based on digital operations has contributed to inhibit potential agglomerations since we do not have physical branches. Clients can solve all their demands and financial needs through an app in a practical, efficient, and safe way.
On the social front, we support institutions dedicated to raising donations to purchase adequate resources for hospitals. We also raised funds for food donations for families that were most affected by the pandemic.
Results obtained with the Bank’s support:
The Comunitas project
relied on the help of various donors, including modalmais. Together they delivered more than 180 respirators to hospitals.
Movimento União Rio
distributed over 1 million PPEs to health professionals, ultimately contributing to the protection of these individuals who provide essential services to the public, providing healthcare workers with safety to guarantee less contamination and prevent absence from work.
The Mães da Favela project
received more than 600 basic food baskets bought by modalmais employees who engaged in an internal campaign. As a result, hundreds of underprivileged families in Rio de Janeiro and São Paulo received aid to get through the pandemic.