Cherry Bank: innovation for biodiversity

Sustainability represents for Cherry Bank the core element of the business strategy and is part of the company's DNA. "We aim to adhere to the UN's Principles for Responsible Banking, the framework for sustainable banking, by committing to align our strategies with the Sustainable Development Goals (SDGs) and the Paris Agreement." Maddalena Ganz, Head of Marketing and Communications at Cherry Bank, says that the company's main areas of commitment rest on 3 pillars of sustainability during the three-year period '23/'25: Cherry Core, Cherry Planet and Cherries. In this context, there are some 50 initiatives that can be found in their Sustainability Plan '23/'25. "We have distinguished ourselves from the outset for the attention we pay to the environment, the territory and all of us cherries." - Maddalena Ganz continues - "being a 'sustainable' bank is a daily commitment between us, our customers and all our stakeholders."

Cherry Bank is committed to promoting the integration into its business of practices aimed at safeguarding the environment, generating social value and fostering the sustainable management of the Bank itself, in order to contribute to exerting a significant impact in terms of environmental and social sustainability, both in the short and long term. A commitment put in black and white in the Sustainability Plan for the three-year period 2023-2025. As Maddalena Ganz stated, the sustainability initiatives realised within the partnership with 3Bee represent a roadmap that Cherry Bank will measure over the years through objective indicators and thanks to technology, to monitor progress towards the set goals. The Oasis of Biodiversity project is part of one of 6 projects implemented in 2023 to support the social and cultural development of the communities and territories in which Cherry Bank operates, contributing to achieving 8 of the 17 Goals of the 2030 Agenda.

'Intensive agriculture, climate change, industrialisation have contributed year after year to increasing biodiversity loss. Hence the desire to play our part in counteracting this trend. The Biodiversity Oasis is an example of social and environmental enhancement of the territory. It is an initiative that combines open innovation, technological development and the environment. Three important directions of the Cherry Bank Project.' says Maddalena Ganz, Head of Marketing and Communication at Cherry Bank. With these values, the Oasis of Biodiversity of Cherry Bank was born, consisting to date of 5 biomonitoring hives and 100 wild cherry trees. A tangible and measurable project, which aims to monitor and safeguard biodiversity and the pollinating insects, including butterflies, bumblebees and bees.

The Cherry Bank Biodiversity Oasis consists of 100 nectariferous trees, which contribute to feeding 5,000 pollinators each year through the production of approximately 25 kg of nectar. Biomonitoring hives equipped with 3Bee Hive-Tech technology, on the other hand, make it possible to statistically observe the health status of over 1,500,000 bees, as well as monitor environmental parameters useful for analysing the surrounding biodiversity. The Cherry Bank Biodiversity Oasis is located on one of the plots of land made available by Concessioni Autostradali Venete for the initiative, in the Metropolitan City of Venice. A tangible project, which represents an important step on Cherry Bank's path towards sustainability and is also realised through the progressive involvement of employees, customers and stakeholders. In fact, the Oasis of Biodiversity created is constantly growing, thanks to a number of supporters who are helping to increase its impact.

Cherry Bank builds its growth on the well-being of those who work for the Bank, the so-called "cherries", who are the first ambassadors of the Project and are actively involved in the Bank's sustainability initiatives. Cherry Bank is an active participant in the debate on sustainable development and incorporates the ESG factors within its corporate strategy, listening to key stakeholders and all "cherries" to understand their expectations and opinions on sustainability issues. This is also crucial when drafting the materiality analysis of the Sustainability Report and in guiding the definition of the Bank's future sustainable development strategies.

'Sustainability is a duty, but it is also always an opportunity: playing an active role can make a difference. Defining sustainability governance and drawing up the first sustainability report was not easy, especially because we wanted to commit to it from the very beginning." concludes Maddalena Ganz. Sustainability has always been a prerequisite at the roots of the actions of Cherry Bank, which is constantly striving to strengthen the range of ESG services dedicated to clients, in line with their needs.