We're proud to announce that Witold Gromala from our Krakow office is amongst the ten finalists of the Ethics and Trust in Finance prize, for which Euroclear is a structural partner.
Witold's topical essay: The Blockchain Revolution, caught the judges' attention with its bold link between the French revolution and the, rather less bloody, financial revolution which is currently taking place.
Several Euroclear colleagues entered the competition, which asks people who are younger than 35 to put forward essays on the topic of ethics in finance. The prize itself was created by the banker Robin Cosgrove's family, after their son died tragically young. Robin was very concerned with the percieved lack of ethics in the finanical world and keen that the younger gerneration would not make the same mistakes that led to the financial crisis of 2008.
Euroclear is a keen supporter of robust ethical behaviour, recoginsing that a strong economy must have sound ethics at its base. Therefore we are very pleased that Witold has made the top 10 and extend our warmest congratulations to him for this achievement.
"We are a trusted capital markets infrastructure provider with a strong corporate reputation in the global financial markets, and we are honoured to be assiociated with the Ethics & Trust in Finance Prize - a key catalyst for our business leaders of the future to debate the buring ethical issues of today" Martin Gregson, Head of Compliance & Ethics Awareness, Communications and CR at Euroclear
We're proud to announce that Euroclear has won Gold with Special Commendation for the second time in the London Clean City Awards. The judges took into account our continued focus on emissions reduction and also our current focus on waste. They took especial note of our campaign to make all our main offices plastic cup free and the provision of drinking bottles for all staff.
We were also recognised for our encouragement of grass roots initiatives, including the creation of our Environmental champions group and our various Environmental competitions, such as our 2017 photo competition.
Take a look at our Environment stream
In 2017, we promised our clients that for every client satisfaction survey they completed, we would donate funds to our corporate charity, Build Africa. We work closely with our partners to identify the most pressing needs out in rural Uganda, where Euroclear is supporting schools and communities to help alleviate poverty.
Water is genuinely the source of life out in these isolated communities - but it can also be a source of death. If there is no clean water supply nearby, children and their parents will drink from contaminated sources, often leading to life threatening diseases.
In every school that Build Africa supports, one of the first actions is to provide uncontaminated drinking water in the school grounds, to be shared by the school and the local communities. At Mirori primary school, the nearest clean water supply was a good two KM away from the school, leading to a great deal of lost time as the children went to and from the borehole during school hours.
Constructing a borehole is expensive and time consuming - so not something that local communities can easily afford themselves. The land must be surveyed and expensive equipment hired to do the drilling - which is not always successful. That's why the generous contribution raised through the Client survey is so vital.
These funds were put to good use, creating a new borehole at Mirori school which was ceremoniously declared open for use while our team was out in the field in November.
So a big thank you to all the clients who completed the survey - having clean drinking water on the doorstep will undoubtedly save lives and mean that the children stay in school instead of having to waste time fetching water from a distant supply.
Go to Community to find out more about Euroclear's partnership with Build Africa
The 7th Uganda field trip team has returned from an intensive week out in Uganda.
This trip was different from the previous trips in that we really expanded our focus to the wider district of Bukedea and equally divided our time between the schools and the communities. This reflects Build Africa's growing focus on a holistic approach, which doesn't only focus on education, but also puts a clear emphasis on supporting the local communities in their constant battle against poverty.
These communities are really feeling the effect of climate change - the seasons have become very erratic and it is difficult to know when to plant crops. When harvests fail, which they increasingly do, everyone suffers. Parents rely on the harvests to feed their children and to create what very little income they have. Just one bad harvest can spell disaster. This is why the Village Savings & Loans schemes are so important. Euroclear funds the set up of these schemes and supports the Build Africa trainer who is doing an excellent job - so much so that his work has almost doubled since last time we were out!
The Village Savings & Loans schemes give the local people the possibility to save, take out small loans to help them buy crops/set up small businesses/tide them over hard times/afford school materials. These schemes also teach the concept of saving during good times in order to be able to survive bad times - a concept that was not easily understood previously.
Entrepreneurship and the ability to look for innovative solutions are two aspects that are in abundant evidence in these poor rural communities. We met a young woman who has set up a small shop, sewing centre and peanut grinding industry, serving her immediate community. Her profits allow her to send her children to school (where parents have to pay for uniforms and books) and to continue to build on her small business. We also visited a very remote schol and community where parents are being trained to create learning materials to help their children to continue learning in the home environment. It was inspiring to see how people created some amazing objects out of clay, bamboo, cardboard boxes and bottle tops, proving that you don't need complex solutions to be effective.
It was another diverse team, with colleagues from Belgium, the UK, France, Sweden and Poland - and nationality-wise, we were a mix of Brits, French, Irish, Italian, Nigerian, Vietnamese, Swedish and Belgian!
It' difficult to get young women into STEM subjects, and, as a result, it's often difficult to attract women into IT jobs. At Euroclear we feel that teams work better together when there is a good gender balance, which is why we work with Greenlight for Girls to encourage young women to get into STEM subjects.
Find out more about how an interactive workshop in London inspired the daughters of our colleagues....take a look at our Workplace stream.
In our fast paced lives, it’s important to step back and celebrate some of the great things that our industry is doing for both local and global communities.
Many colleagues take time throughout the year to support those in our communities who are less privileged than we are and City Giving Day is the day that we say thank you and encourage others to do the same.
City Giving Day was launched three years ago by the then Lord Mayor of London - and from year one, Euroclear went global! This year we celebrated City Giving Day in six of our locations around the world.
We not only celebrate the great community work that is going on, but we also take this occasion to raise awareness on our environmental initiatives and to support our Diversity & Inclusion agenda.
This year, across the group, we raised over EUR 1,800 for various charities. Colleagues took part in Stairs Challenges, treasure hunts, guessing games and static bike races.. to name just a few of the fun activities that were held from London all the way to Hong Kong.
It's great to start the summer with some good news. And that's what we're going to do. We've reduced our carbon footprint by an impressive 29% since we started measuring in 2010!
We remain firmly committed to carbon neutrality and we're aiming to reduce our emissions even further, although an increase in global travel makes this challenging.
We put a price on our emissions by offsetting annually to a recognised standard PAS2060. We choose projects which are in line with our Corporate Responsibility goals and make measurable contributions to local communities, while contributing to the UN's Sustainable Development goals.
New science-based targets
We are pleased to announce our new science-based emissions targets. Science-based targets are focused on setting reduction goals which are based on keeping global temperature rise to under 2 degrees by 2050, as recommended in the Paris agreement. This shows our determination to set long-term ambitious goals and to stick to them.
Our first emissions target is to reduce our footprint by a further 36% by end 2024, against our 2014 baseline.
We've just returned from rural Uganda, where we have been visiting some of the schools we support to identify future projects, observing the local savings & loans groups, leading workshops and investigating how we can further support local entrepreneurs. It was a very full schedule, with so many inspiring and impressive experiences, it's hard to single out just one.
Perhaps one of the most memorable parts of the trip was our visit to small businesses, which are thriving against all odds. With the help of the savings & loans schemes, supported by Build Africa and Euroclear, local farmers are learning how to escape from subsistance farming and expand their efforts to break the cycle of poverty.
Supporting young people as they enter into the workforce is something that Euroclear feels strongly about. As a major employer in Brussels, we have a special interest in helping young people to achieve their dreams.
So, it was with great pleasure that we agreed to sponsor the Euroclear Social Entrepreneurship award at the Junior Achievement European Company of the Year finals on 12 July. Throughout the day, the 37 ‘mini companies’ pitched to the various juries and hosted stalls on the Place Rogier in Brussels to display their wares. They even received a visit from HRH King Philippe of Belgium, who showed a real interest in their initiatives and is obviously a keen supporter of young entrepreneurship.
Our CEO, Lieve Mostrey, attended the gala event at Autoworld in the evening, in the company of Minister Alexander De Croo and European commissioner Marianne Thyssen, among over 700 other guests. It was an amazing evening – wonderful to see so much young talent and energy and encouraging that so many young people are considering the impact of their products upon society and the planet.
Our award for Social Entrepreneurship recognises the team that has best embodied the concept of making a profit while at the same time benefitting society. The winners, the Dutch team Inizio with their innovative recyclable flat pack coffee cup perfectly embody the ‘People, Planet, Profit’ principle.