Stakeholder engagement in practice
FMO has a wide variety of stakeholders and interacts with each group depending on its perspective, needs and concerns. You can find examples throughout this report. Some examples of our stakeholders and how we interact with them are described below.
We send a 'management letter' to Financial Institutions clients containing key findings from due diligence processes. We also send a client questionnaire after every deal is closed, followed up by a phone call from an FMO manager to discuss the outcome. Outcomes are shared among staff and used for internal improvements.
We conduct a Client Satisfaction Survey biannually. The next survey is planned for 2012.
Every year we organize a 'client board' in Latin America, at which current and former clients join FMO representatives in discussing topics such as the regional economic, social and political environment, the role of development banks, FMO's strengths and weaknesses and our focus sectors. Outcomes are shared within FMO to improve our business.
We hold at least one shareholder meeting per year. Our biggest shareholder is the Dutch State with whom we meet throughout the year. Other shareholders include large Dutch banks, employers' associations, trade unions and individual investors. Last year over 80% of shares was represented at the annual meeting of shareholders.
Dutch government, embassies and politicians
We developed a strategy to bring greater structure to our talks with politicians and government policy workers. We hold discussions regularly which contribute to our generally good relationships with these stakeholders.
We have policy meetings with the Dutch state on a regular basis amongst other items government funds. We also have meetings with parliamentarians. We send a newsletter to Dutch embassies around the world.
Development financial institutions
We worked with counterpart EDFI on harmonizing ESG indicators, in order to make ESG reporting easier for clients, and on a similar initiative with a working group composed of the European Investment Bank, the European Bank for Reconstruction and Development and regional development banks.
We attend annual meetings of EDFI and bilateral meetings. A delegation usually represents FMO at such meetings.
Since December 2010 Nanno Kleiterp has been the EDFI's chairman.
We organized the conference Boosting Investments in Sustainable Forestry and Forest Carbon in Amsterdam last year. The well-attended conference was held together with Nyenrode Business University and co-sponsored by the IDH and the African Development Bank.
Many more examples are mentioned throughout the report. All have similar goals: to improve cooperation, exchange knowledge and seek new opportunities.
Every two years, FMO conducts formal employee engagement surveys. The next survey is scheduled for 2012. Some examples of how the previous survey was used are described in the Our people section covering how our HR department took steps forward.
In this section you will also find information on how we hold regular meetings with the Works' Council. We strive for an open culture and organize various formal and informal gatherings for staff throughout the year.
Local communities and non-governmental organizations (NGOs)
Local communities and NGOs often have the same goals. Their concerns and, more importantly, their knowledge and understanding of the possible outcomes of an envisaged project is of the utmost importance to its success. That is why we believe that we and our clients must pay due attention and simulate action where it is needed.
We last year formally identified a number of NGOs we feel are relevant for FMO to actively work with, such as WWF and Oxfam. We invited Oxfam to give its opinion on several issues concerning FMO, such as making our revamped website more transparent.
We signed a memorandum of understanding with WWF in December 2011, with a view to rolling out joint initiatives in areas such as sustainable forestry in coming years - a clear example of how stakeholder management bears fruit in terms of policy. We expect to begin a one-year pilot with WWF in 2012, before formalizing the partnership further via the memorandum.
We also signed a memorandum of understanding with the Initiatief Duurzame Handel (Sustainable Trade Initiative or IDH) to explore how we can further embed sustainability in the supply chain.