ESG information

TKB embraces a modern, responsible approach to corporate governance. Authorities and responsibilities are clearly defined at all management levels.

See Organization for further information.

TKB is the leading bank for private individuals, businesses, commercial enterprises and the public sector in the canton of Thurgau.

See Portrait for further information.

The cantonal Law on Thurgauer Kantonalbank lays the foundation for the business operations of TKB.

See the Law on Thurgauer Kantonalbank for further information.

The Owner strategy supplements the Law on Thurgauer Kantonalbank. It is drawn up by the Thurgau government and approved by the Thurgau cantonal parliament. The Law on Thurgauer Kantonalbank and the Owner strategy set the guidelines for the bank's business activities on the part of the main owner, the Canton of Thurgau. It is reviewed regularly. 

See Owner strategy for further information.

TKB responsibly fulfills the public service mandate enshrined in the TKB Law. It is committed to society and the economy in Thurgau in a variety of ways.

Detailed information on this can be found in the Annual and Sustainability Report. The Bank's role is also described in the Code of Ethics.

The TKB sustainability policy sets out binding guidelines for the bank's business activities. It formulates principles for sustainable action and shows how these are implemented in the financing business, in the investment and pension business, in the bank's own financial investments and in banking operations. 

The sustainability policy also defines exclusions for sectors and activities that are being discussed controversially because they run counter to sustainable social development. These are

• Oil and gas extraction
• Coal mining
• Fossil power plants (including coal-fired power plants)
• Nuclear power plants, nuclear energy, uranium mining
• Unlawful, deliberate water/groundwater pollution
• Mining using particularly destructive mining methods
• Non-certified agriculture and forestry
• Endangering areas that are particularly worthy of protection (including world heritage sites, old-growth forests, animal and plant species)
• Violation of human and labor rights
• Gambling
• Violation of the rights of indigenous peoples
• Production of and trade in controversial (banned) weapons
• Violation of minimum corporate governance standards

The exclusions apply to all of the bank's business activities - in particular to the financing business, the bank's own financial investments and the investment and pension business.

As the supreme strategic management body of TKB, the Board of Directors approves the sustainability strategy. It formulates ambitions and targets for sustainability topics that break new ground in terms of TKB’s sustainability strategy. The Board of Directors delegates the implementation of the sustainability strategy to the Executive Board, which has the support of experts from the business areas and different working groups.

Individuals with Swiss citizenship and an impeccable reputation may be elected to the Board of Directors. Their task is to fulfill FINMA’s corporate governance requirements and conduct the corresponding fitness and propriety audit.

All members of the Board of Directors complete sustainability training. Ongoing monitoring is carried out to review which additional sustainability-related competencies are or are becoming relevant for the members of the Board of Directors and must therefore be addressed at meetings.

The members of the Board of Directors are compensated for their work with a flat-rate fee.

See GRI Sustainability Report and Owner strategy for further information.

The Board of Directors is the strategic management body of TKB. It is responsible for the overall management of the bank. Its duties are set out in the Swiss Code of Obligations and in TKB's business and organizational regulations, among other things. The Board approves TKB's corporate and sustainability strategy, for example.

Detailed information on the Board of Directors can be found in the “Corporate Governance” section of the Annual and Sustainability Report. Information on the Board of Directors can also be found here.

TKB's Annual and Sustainability report provides a detailed review of the past financial year. It contains non-financial reporting on sustainability issues and detailed information on corporate governance.

The GRI sustainability report follows the Global Reporting Initiative (GRI) standard and provides detailed information on TKB's activities in line with its sustainability strategy.

TKB's Climate report follows the recommendations of the Task Force on Climate-related Financial Disclosures (TCFD). It forms an annex to the Annual and Sustainability Report and the Bank's GRI Report.

TKB’s overarching target is to achieve “net zero” greenhouse gas emissions (GHG emissions) by 2050 – both through its own operations as well as its financing and investment activities. To reach this goal, the bank joined the Science Based Targets initiative (SBTi) and has formulated appropriate reduction pathways for its short-term climate targets.

TKB has formulated science-based targets for reducing its greenhouse gas emissions (GHG emissions) in the following areas:

• Direct operational GHG emissions (Scope 1)
• Indirect operational GHG emissions (Scope 2)
• GHG emissions through listed equities and corporate bonds (TKB financial investments)
• GHG emissions through long-term corporate loans to large companies
• GHG emissions through commercial real estate (mortgages)
• GHG emissions through residential real estate (mortgages)

The short-term climate targets (time horizon until 2030) are in line with the standard established by the Science Based Targets initiative (SBTi) and have already been validated by this organization. Detailed information about the targets can be found here.

The climate targets that impact the bank’s financing and investment activities apply to 74 percent of the portfolio (as of: 30 June 2023).

TKB’s sustainability strategy defines climate change and the reduction of greenhouse gas emissions as material topics and sets corresponding targets.

The bank uses a two-pronged approach to achieve its climate targets: first, by avoiding and reducing greenhouse gas emissions in its operations and, second, by avoiding and reducing greenhouse gas emissions in its credit and investment portfolio as well as in its own financial investments.

TKB takes action in four areas:

• Operations: TKB optimizes operating procedures, focuses on climate-friendly alternatives and motivates its employees to embrace climate-friendly behaviors.
• Offering: TKB offers products and services that bring long-term benefits – to people and the environment.
• Commitment: TKB engages in dialog with Swiss companies as a member of the Responsible Shareholder Group.
• Climate protection: TKB supports a high-quality climate protection project through the “myclimate” foundation in Switzerland.

TKB’s commitment to the climate is based on national and international initiatives and standards. Furthermore, the TKB sustainability policy sets out binding requirements for the bank's business activities and defines exclusions for sectors and activities, including in the environmental area. The exclusions apply to all of the bank's business activities - in particular to the financing business, the bank's own financial investments and the investment and pension business.

TKB’s climate report shows in detail what action the bank took during the year under review.

TKB determines its operational greenhouse gas emissions (Scope 1, Scope 2, Scope 3: categories 1 to 14) in accordance with the Greenhouse Gas Protocol (GHG Protocol). The bank calculates its financed greenhouse gas emissions (Scope 3, Category 15) based on the standard developed by the Partnership for Carbon Accounting Financials (PCAF). TKB’s climate report contains more detailed information about the measurement methods (metrics) used.

The bank has a transition plan where it documents its operational targets and the steps it takes to reduce greenhouse gas emissions. It uses climate related key performance indicators (KPIs) to monitor progress in achieving its targets. The transition plan can be found in TKB’s climate report.

TKB’s climate report details how the bank deals with the risks and opportunities presented by climate change. TKB follows the recommendations of the Task Force on Climate-related Financial Disclosures (TCFD) and discloses information about the bank’s governance, strategy and risk management as well as its KPIs and targets. The report is published annually and forms an annex to the annual and sustainability report as well as to the GRI Sustainability Report.

Internal Audit checks TKB’s climate report for completeness – according to the recommendations of the TCFD – and to ensure that the financed emissions have been calculated correctly. The Swiss Climate consulting firm performs a formal audit on the overall amount of operational greenhouse gas emissions reported; the KPI can be found in the GRI Sustainability Report.

The following rating agencies regularly assess the sustainability performance of Thurgauer Kantonalbank:

The Code of Ethics (Code of Conduct) lays the foundation for collaboration within TKB and for how we behave toward our stakeholder groups. It is binding for all employees and for the members of the Board of Directors. The Code of Ethics (Code of Conduct) is approved by the TKB Board of Directors and regularly reviewed by the bank.

TKB pledges to respect human rights and structures its business operations in compliance with nationally and internationally recognized standards on human rights (International Labour Organization, ILO).

See Code of Ethics (Code of Conduct) for further information.

TKB makes a commitment in its sustainability strategy to live up to its economic, environmental and social responsibility – also with respect to procurement.

The Sustainable Procurement Principles describe how TKB incorporates sustainability-related aspects when procuring goods and services and what it expects of its suppliers. See Sustainable Procurement Principles (PDF) for further information.

With the Sustainability Declaration for Suppliers (PDF), TKB suppliers commit themselves to complying with generally applicable sustainability requirements. The Sustainability Declaration is used for all procurements and use of services above a value of CHF 10,000 per year and is obtained once per supplier.

TKB applies a professional compliance management system to ensure compliance with legal, supervisory and competition law, as well as standard industry and company-specific regulations.

Important documents include the business and organizational regulations, which govern the powers and responsibilities of the Board of Directors and Executive Board, as well as internal bank directives:

• Data protection
• Avoidance of corruption
• Prevention of insider trading and market manipulation
• Combating money laundering and tax offenses
• Dealing with cross-border activities

See Code of Ethics (Code of Conduct) for further information on how TKB deals with statutory and regulatory requirements.

TKB has clear guidelines on market conduct. These include the handling of insider information and the prohibition of market manipulation.

More information can be found in the Code of Ethics (Code of Conduct).

TKB tolerates neither active nor passive bribery nor improperly accepting or granting advantages.

See Code of Ethics (Code of Conduct) for further information.

TKB combats money laundering within its sphere of influence. All relevant statutory and regulatory provisions relating to the prevention of money laundering are implemented. 

See Code of Ethics (Code of Conduct) for further information.

TKB adheres to the regulations on data protection and privacy and handles data from customers, employees and business partners conscientiously and carefully.

See Code of Ethics (Code of Conduct) and Privacy policy for further information.

TKB protects information and data in accordance with industry standards. It ensures their availability, integrity and confidentiality to the best of its ability. To this end, TKB operates an information security management system. See Code of Ethics (Code of Conduct) for further information.

TKB takes complaints seriously. Violations of laws and regulatory provisions as well as internal directives and regulations can be reported to various internal bank bodies. Employees can also contact an external social counseling service or the external whistleblower hotline. The reporting authorities - internal and external - and processes are also defined in the event of sexual harassment, bullying, discrimination or other violations.

Clients and other stakeholders can turn to various internal bank bodies with their concerns. The contact details can be found on the bank's website. Externally, the Swiss Banking Ombudsman is a possible point of contact.

See Code of Ethics (Code of Conduct) for further information.

TKB complies with the regulations (Employment Act, Data Protection Act, etc.) applicable to it in Switzerland. The following points serve to clarify and explain the bank’s actions. TKB pledges to respect human rights and structures its business operations in compliance with nationally and internationally recognized standards on human rights. Furthermore, TKB pledges to uphold the fundamental principles of the International Labour Organization (ILO) and to take steps to prevent any potential direct or indirect conflicts from arising in connection with the bank’s business activities.

Training and education, professional development

All employees, whether part-time or full-time, benefit from internal and external training opportunities. This is an important part of systematic employee development. TKB collaborates with different external partners, including in the areas of sustainability, leadership development, sales development, and digital advisory services. TKB also supports individual training measures to improve personal skills and generally covers all the associated costs.

In the case of individuals without basic banking training, the bank offers job opportunities for career changers across various positions. The IT Academy now enables entrants to start working as an application manager.

The bank also offers apprenticeships every year in basic business management, in IT, and culinary training in the employee restaurant. TKB also offers internships for vocational college graduates.

Development reviews

At least three times a year, managers discuss personal commitment, propensity for active involvement, and further professional development with all permanent staff.

Training courses and certification programs

Training courses

All employees are required to complete the following training courses or web-based training courses (WBTs) when they join the company:

• Information security, cyber security, and data protection
• Compliance
• Physical safety
• Sustainability in general

Depending on the target group and relevance, employees complete further training courses and WBTs:

• Combating money laundering and terrorist financing and compliance with the due diligence obligations of the Swiss Bankers Association
• AEOI / FATCA
• Market conduct
• Cross-border

Physical attendance at events such as the “Our bank” welcome event is mandatory.

All advisors attend robbery training.

Client advisor certifications SAQ

All advisors are certified, regardless of whether they advise companies, commercial enterprises, or private individuals. As a certified Client Advisor Bank as per ISO Standard 17024 under the Swiss Association for Quality (SAQ) certification system, the bank ensures that its advisors’ professional knowledge is up to date and of high quality. Re-certification is required every three years.

Sustainability training

In-depth courses comprising in-person sessions and self-study units via WBTs on sustainability (investments / mortgages / SME loans) are also mandatory for certain functions, especially for all advisors working in the private and business customer divisions. The sustainability courses take into account the self-regulation requirements stipulated by the Swiss Bankers Association in the area of sustainable finance. The learning outcomes are credited towards re-certification under the Swiss Association for Quality (SAQ).

Specialist training

Subject-specific certifications are completed in certain functions (e.g. cross-border certification, Avaloq certification, SIX and EUREX trader examinations, ESG Asset Manager certification).

Talent development

TKB has a clearly defined process for promoting talent and ensuring succession planning for managers. Every year, HR conducts personnel planning and development meetings with all supervisors, which includes discussing employees’ performance and potential. In the case of high-potential employees, the supervisor – with HR support – works together with the employee in question to develop an individual development plan. In addition to on-the-job measures, this can involve further training, internal stages, or external development centers.

There is a structured succession planning process for the second management level. It is carried out twice a year by HR in partnership with the Executive Board. This involves discussing internal and external candidates for second-level management positions where changes are expected to take place in the near term. During this process, it is decided who will remain in contact with the external candidates (Executive Board member or HR). HR works together with internal candidates to develop individual measures to foster their development and as preparation for the management position.

TKB offers three different pathways for the development of its employees:

Career progression as a manager

The standard career progression for management roles entails advancing from one hierarchical level to the next. Moving to another area of the company is possible and often sensible or necessary. Typical progression may involve moving from team leader to branch manager to head of a business unit.

Career progression as an advisor

Career progression as an advisor ranges from looking after walk-in customers to taking on challenging customer portfolios. Typical progression may involve moving from customer advisor for team-managed customers to senior advisor for private customers, also in an adapted form as senior advisor in the Private Banking, Corporate Customer, and Commercial Customer divisions. Switching between business units is encouraged.

Career progression as a technical expert

Career progression for a technical expert or specialist usually involves taking on simple and then more complex tasks or projects that demand greater responsibility. The tasks are carried out within a function or department. For example, a clerk may be promoted to a specialist role and then to a senior specialist role, for which there are different designations depending on the function.

Partnerships

Zurich University of Applied Sciences, School of Management and Law, Winterthur

The School of Management and Law at Zurich University of Applied Sciences (ZHAW) assists TKB with the setup and monitoring of sustainability training courses.

Bankenberatungszentrum bbz st.gallen ag (Banking Advisory Center), St. Gallen

For many years, TKB has worked closely with the St. Gallen Banking Advisory Center (bbz) to facilitate the training and development of employees and managers. The bbz also helps TKB to set up and implement the SAQ certification program for its customer advisors.

Diversity programs and work-life balance

TKB is a progressive employer that promotes equal opportunities and a good work-life balance.

TKB offers its employees:

• Flexible working hours
• Part-time positions on at least a 40% basis (advisors/specialists) or 60% (for management roles)
• Job sharing and top sharing
• Progressive working-from-home regulations
• At least five weeks of vacation per year
• Option to purchase an additional week’s vacation
• Opportunity to work in the community (paid working day or half day if the workload is 50% or less)

TKB grants 16 weeks of maternity leave to mothers and 2 weeks of paternity leave to fathers – each at 100% of their salary (statutory amount is 80%). These periods of leave may be extended on an unpaid basis subject to agreement.

All functions are open to all genders and the compensation system is structured to be gender neutral. This was confirmed by the equal pay analysis carried out by the Competence Center for Diversity and Inclusion at the University of St. Gallen in 2020.

TKB was also awarded the Career Empowerment label by the University of St. Gallen in 2023. This label recognizes companies and organizations that consider job seekers with non-linear career paths and value diverse teams.

Equal opportunities

TKB is committed to ensuring equal opportunities for all persons regardless of gender, age, sexual orientation, religion, or heritage. The bank applies a non-discriminatory organizational culture at all levels. Its objectives also include ensuring a balanced gender ratio at all management levels and equal pay for work of equal value.

Freedom of association and the right to engage in collective bargaining

TKB respects employees’ important constitutional right to join trade unions and to engage in collective bargaining.

This means employees are allowed to join the Swiss Bank Employees' Union (SBPV) if they so desire.

Renunciation of forced labor

TKB respects the International Covenant on Civil and Political Rights (ICCPR), Art. 8 of which stipulates that no one may be required to perform forced or compulsory labor. This constitutional right is also monitored by the authorities and sanctions imposed in the event of violations.

Non-discrimination

TKB does not tolerate discrimination of any kind.

Anti-bullying and anti-harassment measures

TKB ensures the protection of personal integrity in the workplace and actively encourages its employees to refrain from engaging in any form of harassment. Sexual harassment, discrimination, and bullying are not tolerated in particular. The directive “Sexuelle Belästigung und Mobbing am Arbeitsplatz” (Sexual harassment and bullying in the workplace) regulates non-discriminatory working relationships.

Information and co-determination rights (participation rights)

TKB pledges to comply with the Federal Act on Information and Consultation of Workers in its businesses.

Equal treatment of part-time and full-time employees

The bank supports part-time positions on at least a 40% basis (advisors/specialists) or 60% (for management roles).

All employees, whether part-time or full-time, benefit from internal and external training opportunities.

TKB is not bound by a collective bargaining agreement and has not employed any persons governed by a collective bargaining agreement.

The same working conditions apply to all employees, incl. the maximum working hours.

Position regarding non-regular employment (temporary or indirect)

Nearly all employees have permanent positions at TKB. Exceptions only exist for good reason in special situations, such as apprenticeships or maternity leave replacements.

TKB limits indirect employment to a minimum and for specialized activities that fall outside the bank’s core business (cleaning and security, for example).

Observance of minimum wages

As no minimum wage is defined at the national level in Switzerland, TKB cannot pledge to comply with it. While TKB is guided by the Agreement on Conditions of Employment for Bank Employees (ACEBE) stipulated by the Swiss Bank Employees’ Union (SBPV) when setting employees’ salaries, it is not subject to the ACEBE.

The bank ensures that all employees are fairly remunerated. All employees are employed in the Canton of Thurgau.

Based on the low pay gap of 3.3 percent in favor of men, in 2020 TKB was awarded the “We pay fair” label from the University of St. Gallen and was the first cantonal bank to receive the seal of approval from the Social Partnership Center for Equal Pay in the Banking Industry. The label is reviewed every five years.

Compliance with maximum working time

TKB complies with the Swiss Employment Act, Art. 9 of which specifies that the maximum number of working hours per week for office staff is 45 hours.

TKB is not bound by a collective bargaining agreement and has not employed any persons governed by a collective bargaining agreement. The same working conditions apply to all employees, incl. the maximum working hours.

Safety and well-being at work

TKB is dedicated to safeguarding the physical and mental health of its employees and offers information and workshops on this topic.

Safety concepts are regularly reviewed and updated. Employees directly impacted receive ongoing training and its frequency is tailored to their specific roles.

Larger locations are equipped with first-aid rooms; selected employees receive regular first-aid training. Automatic External Defibrillators (AEDs) are readily accessible at all locations.

Regular bank raid training courses are held for advisors.

Employees who are exposed to particular hazards are instructed to use appropriate protective equipment and to apply the recommended safety rules.

TKB provides ergonomic workplaces.

Physical and mental health

TKB is dedicated to safeguarding the physical and mental health of its employees and offers information and workshops on this topic.

TKB maintains an occupational health management system based on three pillars: work culture, prevention, and case management. The bank fosters a positive work culture of appreciation. This is based on the guiding principles for good cooperation and leadership. Potential problems and crises must be identified early. This happens during the regular performance and development meetings or by monitoring working hours and absences. Employees can also contact the employee counseling service MOVIS AG. Counseling is confidential, free of charge for employees, and available 24/7. TKB is not informed about employees who have contacted MOVIS AG.

In the event of a crisis, employees receive close guidance and support, whether through an in-house HR advisor, case management by health insurer Helsana, or the employee counseling service offered by MOVIS AG. Finally, TKB offers modern working conditions that enable individual flexibility as well as ergonomic workplaces.
Free employee counseling service for employees through an external partner
TKB offers its employees an external counseling service provided by MOVIS AG. The service provides employees with professional and independent advice on operational, personal, and health-related issues.

Counseling is confidential, free of charge for employees, and available 24/7. TKB is not informed about employees who have contacted MOVIS AG.

Regular employee satisfaction surveys

TKB conducts regular employee surveys to measure employee satisfaction and commitment, and to provide information to help it continue to develop the company and its leadership culture.

Employees can report suspected violations of internal directives and regulations or of laws and regulatory requirements either to supervisors, to Compliance, or to the external Whistleblowing Hotline.

Matters can be reported to the Whistleblowing Hotline anonymously around the clock, seven days a week. Even if the communication is not anonymous, the person in question is not revealed by the external reporting office. The person reporting will not suffer any disadvantages unless the report is based on knowingly false information.

In the event of sexual harassment, bullying, discrimination, or transgressions, the persons affected or who are aware of such behavior, and persons accused of this conduct can contact supervisors, HR consultants, or the external employee counseling service MOVIS AG. The bank takes appropriate action to protect anybody affected. It arranges for tip-offs to be investigated and takes steps to remedy any shortcomings. At TKB, this is based, among other things, on internal bank directives, documents, and the Code of Conduct.

TKB pledges to respect human rights and structures its business operations in compliance with internationally recognized standards on human rights (International Labour Organization, ILO).

For further information, please refer to the Code of Conduct.

TKB is often recognized as being an excellent employer. Based on the low pay gap of 3.3 percent in favor of men, in 2020 TKB was awarded the “We pay fair” label from the University of St. Gallen and was the first cantonal bank to receive the seal of approval from the Social Partnership Center for Equal Pay in the Banking Industry. The label is reviewed every five years.

TKB was also awarded the Career Empowerment label by the University of St. Gallen in 2023. This label recognizes companies and organizations that consider job seekers with non-linear career paths and value diverse teams.

For further information, please visit the TKB website.

TKB offers products and services that create long-term benefits - for clients, for the environment and for society. It supports sustainable investing on the one hand and sustainable construction and renovation on the other.

All asset management solutions follow the bank's own “ESG Plus” sustainability approach: both quantitative ESG criteria and qualitative sustainability assessments are included in the investment selection process. More information can be found on the TKB website and in this detailed description of TKB's “ESG Plus” sustainability approach. Furthermore, the TKB sustainability policy sets out binding requirements for the bank's business activities and defines exclusions for sectors and activities along the ESG topics. The exclusions apply to all of the bank's business activities - in particular to the investment and pension business, the financing business and the bank's own financial investments.

To promote sustainable construction and renovation, TKB works together with the public energy advice centers of the Canton of Thurgau (eteam) and the cantonal competence center for renewable energy systems (KEEST).

TKB is committed to equal access to financial services and supports its customers responsibly - in all phases of their lives. It provides holistic and transparent advice. In this way, it helps its customers to avoid poverty through overindebtedness or excessive risk-taking. More information about financial inclusion in the Code of Ethics (Code of Conduct).

In its communications, TKB is focused on transparency, establishing and cultivating trust and maintaining a balance of interests at all times.

See Code of Ethics (Code of Conduct) for further information.

In its stakeholder relations, TKB fosters an active, collaborative and candid approach.

Further information on TKB website

TKB contributes as an active member of associations and a participant in initiatives in order to cluster common interests – whether within the sector or across sectors.

Further information on TKB website

The Sustainability Advisory Council works with TKB to provide support for the implementation of its sustainability strategy. It critically assesses the bank’s engagement and provides new ideas. It also promotes the exchange of experience.

Further information on TKB website