KBC Group's rules and policies
Our groupwide policies and guidelines
In order to ensure sustainable, ethical and responsible behaviour on one hand and to limit our adverse impact on society on the other hand, we have implemented groupwide policies and guidelines. Our sustainability policies are bundled under our KBC Group Sustainability Policy Framework.
At KBC, we are committed to conducting our business responsibly and ethically. It is essential to build and maintain the trust of our stakeholders, which is the foundation of our existence and our ‘social licence to operate’.
This section lists our policies related to business conduct matters. These policies underpin the role we have as a financial institution in society and guide our day-to-day decisions and interactions.
The Integrity Policy sets out the KBC principles on ethical behaviour and integrity and the values of KBC. It covers the identification and management of compliance risks. A core topic is ‘conduct risk’, a concept that identifies the risk arising from the inappropriate provision of financial services.
The KBC Code of Conduct for Employees outlines expected behavior from all employees within KBC, emphasising PEARL+ values and a strong corporate culture. It promotes trust, balance among the interests of all our stakeholders, and compliance with rules. We also encourage entrepreneurship, lifelong learning, diversity, equal treatment and respect.
The Anti-Corruption and Bribery Policy provides clarity about KBC’s zero tolerance for all forms of corruption for all employees and third parties with whom KBC has a contractual relationship and sets out the criteria and principles for avoiding conflicts of interest.
KBC's Whistleblower Protection Policy and Procedure outlines the principles for reporting concerns related to potential immoral, unethical or illegal activities. It empowers employees and other stakeholders to raise concerns safely, ensuring protection against retaliation. We provide various channels for reporting. Reports, including anonymous ones, are investigated confidentially and closely monitored.
The objective of the KBC Anti-Money Laundering Policy is to establish the general framework for the fight against money laundering, the funding of terrorism and the violations of human rights, including the human trafficking activities that are often associated with these activities. We are committed to compliance with high standards of anti-money laundering (AML) and countering the financing of terrorism (CTF). Accordingly, management and employees are required to adhere to these standards in preventing the use of our products and services for money laundering or terrorism financing purposes.
The KBC Dealing Code contains measures to avoid insider dealing and market manipulation. It aims to prevent key employees and managers from knowingly or unknowingly performing transactions that are viewed as constituting market abuse. The Code describes prohibited conduct, the corresponding requirements, the duty to report personal transactions to the compliance officer and the relevant conditions.
The KBC Ethics and Fraud Policy aims to ensure that KBC takes all necessary steps to protect the good name, reputation and assets of KBC and its subsidiaries and of all employees, clients, suppliers and other stakeholders. This includes developing processes and procedures, monitoring, creating awareness and training to prevent fraud and misconduct.
The KBC Tax Strategy aims to ensure that we act as responsible taxpayers based on professionally executed tax compliance and legitimate tax planning driven by valid business purposes. Consequently, our employees are not allowed to provide any kind of advice or assistance to clients in terms of tax avoidance or the violation of regulations.
KBC Group's Information Security Strategy focuses on protecting sensitive information and ensuring compliance with legal and regulatory requirements. By implementing robust security controls based on industry standards and best practices, KBC aims to proactively address security risks, safeguard customer data, and maintain a competitive edge. The strategy emphasises continuous improvement and adaptation to evolving threats, ensuring the highest level of security for its operations.
KBC’s Statement of Commitment to the FX Global Code shows our commitment to a set of principles generally recognised as good practice in the wholesale foreign exchange market.
We have stringent policies in place for all our business activities. These policies help us to restrict activities with a harmful impact on the environment, human rights and other important issues.
The KBC Group Sustainability Policy Framework gives a comprehensive overview of our sustainability policies for our business operations and how they are applied across our various activities. It also includes more information on the due diligence process and remedial actions in place.
KBC is committed to respecting human rights. Our aim is to reduce any potentially negative impact on society through our own operations and in our value chain. To this end, we follow the OECD Guidelines for Multinational Enterprises on Responsible Business Conduct and the UN Guiding Principles on Business and Human Rights.
Some counterparties are totally or partially excluded from doing business with KBC. They are listed on the KBC Blacklist, the KBC List of human rights offenders (internal) or the KBC List of most controversial regimes (internal).
| Policy | Policy Description |
| Environmental Policy | The KBC Environmental Policy sets out a series of general guidelines on our commitment to the environment. These are further translated into specific policies that are listed below. |
| Energy Policy | Our Energy Policy aims to exclude or restrict the use of fossil energy and to support the development of renewable energy. It prohibits financing, insurance, and advisory services for direct thermal coal-related projects and imposes strict conditions on any transactions with companies still involved in thermal coal. Additionally, it excludes financing, insurance, or advisory services related to the exploration and development of unconventional oil and gas fields, as well as any new oil or gas fields. |
| Investment Policy | The KBC Investment Policy determines strict ethical restrictions with regard to investments. We exclude investments in companies listed on the KBC Blacklist, on the KBC Human Rights Offenders List and investments in governments or other public authorities within a country listed on the KBC Controversial Regimes List. This also applies to investments in companies that are in any way involved in the extraction of thermal coal and/or power generation companies using thermal coal. Investments in companies involved in tobacco are also excluded. |
| Exclusion Policy for Responsible Investing Funds | The KBC Exclusion Policy for Responsible Investing Funds includes all negative screening criteria (exclusion criteria) all issuers must be screened on and comply with to be included in the responsible investing universes. |
| Biodiversity Policy | The KBC Biodiversity Policy includes our commitment to reduce our direct and indirect impact on biodiversity and to increasing its contribution to the sustainable use and management of biodiversity. This policy covers producers and traders of forest commodities, activities in or near protected areas, activities involving endangered or invasive species and cattle farming and fisheries. |
| Mining Policy | The KBC Mining Policy includes restrictions regarding mining activities in order to mitigate the associated environmental risks such as greenhouse gas emissions, land-use change and water and air pollution. This policy directly addresses the human rights impacts of mining activities as well as the social consequences of the impacts of mining on the environment. |
| Defence Policy | KBC’s Defence Policy outlines strict conditions under which KBC is willing to finance, insure, or provide advisory services to companies involved in arms-related activities. It includes a zero tolerance for companies that are involved in controversial weapons and imposes strict conditions on business with companies in arms-related activities. |
| Animal Welfare Statement | The KBC Animal Welfare Statement includes our commitment to ensuring clients comply with national and international legislation and best practices regarding animal welfare. |
At KBC Group, we strive to foster a culture of integrity, responsibility, and sustainability. Our policies are carefully designed to promote ethical and responsible business practices while meeting the unique needs and expectations of our diverse stakeholders. As a result, we have developed specific policies aimed at addressing the requirements of particular stakeholder groups.
| Policy | Policy description |
| Code of Conduct for employees | The KBC Code of Conduct for Employees outlines expected behavior from all employees within KBC, emphasising PEARL+ values and a strong corporate culture. It promotes trust, balance among the interests of all our stakeholders, and compliance with rules. We also encourage entrepreneurship, lifelong learning, diversity, equal treatment and respect. |
| Whistleblower Protection Policy and Procedure | KBC's Whistleblower Protection Policy and Procedure outlines the principles for reporting concerns related to immoral, unethical or illegal activities. It empowers employees and other stakeholders to raise concerns safely, ensuring protection against retaliation. We provide various channels for reporting. Reports, including anonymous ones, are investigated confidentially and closely monitored. |
| Diversity and Inclusion Policy | The Diversity and Inclusion Policy aims at the elimination of discrimination and promoting equal opportunities, prohibiting all forms of discrimination. We enforce zero tolerance for flagrant disrespectful behavior towards a colleague and encourage reporting of wrongdoing for independent investigation. We strive to foster a culture of respect and responsible behavior, with a commitment from all managers to uphold these principles. |
| Remuneration Policy for the Board and Executive Committee | KBC’s Remuneration Policy for the Board and the Executive Committee includes a remuneration framework that complies with European and national legislation while aligning with KBC’s business and sustainability strategy. |
| Remuneration Policy for all staff | The Remuneration Policy for all staff at KBC considers market practices, competitiveness, risks, long-term objectives, and continuously changing regulations. The Remuneration Policy provides guidelines and procedures for remuneration, emphasising sustainability, risk management, and alignment with long-term interests. It ensures gender-neutral remuneration schemes to guarantee equal pay for equal work of equal value. |
| Policy on Human Rights | KBC is committed to respecting human rights. Our aim is to reduce any potentially negative impact on society through our own operations and in our value chain. To this end, we follow the OECD Guidelines for Multinational Enterprises on Responsible Business Conduct and the UN Guiding Principles on Business and Human Rights. |
| Policy | Policy description |
| Integrity Policy | The Integrity Policy sets out the KBC principles on ethical behaviour and integrity and the values of KBC. It covers the identification and management of compliance risks. A core topic is ‘conduct risk’, a concept that identifies the risk arising from the inappropriate provision of financial services. |
| Code of Conduct for KBC Group employees | The KBC Code of Conduct for Employees outlines expected behavior from all employees within KBC, emphasising PEARL+ values and a strong corporate culture. It promotes trust, balance among the interests of all our stakeholders, and compliance with rules. We also encourage entrepreneurship, lifelong learning, diversity, equal treatment and respect. |
| Information Security Strategy | KBC Group's Information Security Strategy focuses on protecting sensitive information and ensuring compliance with legal and regulatory requirements. By implementing robust security controls based on industry standards and best practices, KBC aims to proactively address security risks, safeguard customer data, and maintain a competitive edge. The strategy emphasises continuous improvement and adaptation to evolving threats, ensuring the highest level of security for its operations. |
| Whistleblower Protection Policy and Procedure | KBC's Whistleblower Protection Policy and Procedure outlines the principles for reporting concerns related to immoral, unethical or illegal activities. It empowers employees and other stakeholders to raise concerns safely, ensuring protection against retaliation. We provide various channels for reporting. Reports, including anonymous ones, are investigated confidentially and closely monitored. |
| Policy on Human Rights | KBC is committed to respecting human rights. Our aim is to reduce any potentially negative impact on society through our own operations and in our value chain. To this end, we follow the OECD Guidelines for Multinational Enterprises on Responsible Business Conduct and the UN Guiding Principles on Business and Human Rights. |
| Policy | Policy description |
| Sustainability Code of Conduct for Suppliers | The KBC Sustainability Code of Conduct for Suppliers requires suppliers to follow social, ethical, and environmental principles. KBC may conduct evaluations to ensure compliance using external and internal databases. Procurement, along with relevant departments like Group Corporate Sustainability, reviews signals such as lawsuits and adverse media coverage related to suppliers. If violations are found that cannot be resolved promptly, KBC may terminate contracts with the supplier. |
| Policy | Policy description |
| Investor Relations Policy | KBC’s Investor Relations Policy describes the principles and practices that KBC Group applies in order to communicate with integrity towards its shareholders and debt holders and as a responsible party on the capital markets. |
| Policy | Policy description |
| Corporate Public Affairs Policy | The KBC Group Corporate Public Affairs Policy ensures that we remain impartial by prohibiting any political involvement, including financial or other contributions to political parties, government organisations, politicians, or campaign events. The policy emphasises transparency and integrity in all public affairs activities, aligning with KBC's commitment to ethical conduct and responsible business practices. |
| Policy | Policy description |
| Community Involvement Policy | The KBC Group Community Involvement Policy sets out how we want to contribute to a positive impact on society through community involvement activities. |