Commitment to Chile Action Framework

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Sustainable operations are a fundamental dimension of the bank’s corporate strategy. Its contribution to the development of the country and its people is framed in this context, providing them more and better opportunities that give them access to a better quality of life and, thus, help build a more inclusive and supportive society. The Corporate Affairs and Sustainable Development Department is responsible for defining, managing and measuring the bank's sustainability strategy, and implementing initiatives to follow through on the strategic priority of “Commitment to Chile”. It is also responsible for reinforcing corporate values and culture using external communication, stakeholder management, and the Corporate Volunteer Program, along with forming partnerships with foundations and public and private organizations. The bank's Sustainability Strategy was not modified in 2020. However, some specific areas were emphasized because of the public health, economic and social crises during the year. Diverse initiatives were implemented to directly assist the sectors hardest hit by the pandemic, including senior citizens, lowincome families, persons with disabilities, micro-enterprises, SMEs and the community at large, providing tools and development spaces to help them recover.

Social investment includes deductible and non-deductible donations, sponsorships, SENCE training tax credits, additional support provided because of the public health crisis and other activities developed by the area. Assessments Banco de Chile relies on several communication channels to manage relations with its stakeholders by gathering information, answering questions and managing concerns. To address external relations, it uses social media to publicize its sustainability activities and telephone banking to field questions and customer and community requests. In 2020 the Teams platform was one of the tools most widely used to support communication in the context of the pandemic. Through Banchile Inversiones, the bank continued to adhere to the United Nations Principles for Responsible Investment (PRI) and has a strategy and practices for incorporating environmental, social and corporate governance (ESG) factors into investment decisions. The bank also has two recognized initiatives, the Financial Education Program (“Cuentas con el Chile”) and the National Desafío Emprendedor Competition, in response to United Nations Sustainable Development Goal (SDG) numbers 4 “Ensure inclusive and equitable quality education and promote lifelong learning opportunities for all” and 8 “Promote sustained, inclusive and sustainable economic growth, full and productive employment and decent work for all.”

At Banco de Chile, we are committed to the country's social development, which we put into practice by promoting actions that create conditions of respect, integrity, commitment, responsibility and fairness directed towards workers, customers, suppliers and the community.

In this context, we voluntarily adhere to the United Nations Global Compact and its Guiding Principles to “protect, respect and remedy” human rights in companies, progressively aligning our practices while creating our own tools, such as policies, regulations and declarations, to facilitate implementation.

Banco de Chile is always concerned with safeguarding the rights of employees, providing tools to the managers for compliance. Due to this, in 2022 it has developed the course on “Fundamental rights and prevention of workplace and sexual harassment”, within which the subject of human rights is also addressed.

The foundations of our sustainable development are based on the following international, Chilean and internal standards:

• International Bill of Human Rights
• International Labour Organization (ILO) Declaration on Fundamental Principles and Rights at Work
• United Nations Guiding Principles on Business and Human Rights
• Global Reporting Initiative (GRI)
• Ten Principles of the United Nations Global Compact 
• Chilean National Action Plan on Business and Human Rights
• Chilean Labor Code
• Inclusive Employment Act (Law 21,015)
• Inclusiveness Policy for Persons with Disabilities, Banco de Chile
• Internal Regulations on Order, Hygiene and Safety, Banco de Chile
• Code of Ethics, Banco de Chile

Within this framework, through various documents and processes we commit to:

• Safeguard the fundamental rights of people and manage the potential related risks.
• Build appropriate work environments that are free of discrimination and practices that threaten individual freedoms, favoring respectful, polite relations.
• Provide equal opportunity in terms of access to employment and professional development, ensuring freedom from discrimination due to disability, gender, race, religion, origin, marital status and/or social condition.
• Promote a work environment free of workplace, moral and/or sexual harassment, abuse, intimidation or violence.
• Guarantee protection of the health and safety of all workers, promoting a safe, healthy environment.
• Recognize the right to freedom of association and union freedom and effective recognition of the right to collective bargaining, in conformity with current labor laws.
• Safeguard childhood by respecting the minimum legal working age.
• Promote honest, transparent and trust-based long-term relationships by providing differentiated solutions through service marked by quality, integrity and agile responses.
• Uphold superior quality, price and service standards, always acting within a framework of fair, legitimate and open competition.
• Promote the building of a more inclusive and caring society.
• Develop projects designed to provide more and better opportunities in the areas of financial education, inclusiveness of persons with disabilities, caring for the environment and emergency response.
• Promote active participation from our employees in actions that directly impact the community.
• Contribute to eradicating corruption in all its forms, including extortion and bribery.

Sustainable Development

1. No Poverty
2. Zero Hunger
3. Good Health and Well-Being
4. Quality Education
5. Gender Equality
6. Clean Water and Sanitation
7. Affordable and Clean Energy
8. Decent Work and Economic Growth
9. Industry, Innovation, and Infrastructure
10. Reduced Inequalities
11. Sustainable Cities and Communities
12. Responsible Consumption and Production
13. Climate Action
14. Life Below Water
15. Life on Land
16. Peace, Justice and Strong Institutions
17. Partnerships