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Nova banka has been a member of the UN Global Compact Organization (GCO) since September 2005. The UN initiative is widely accepted in the world. More than 3,700 companies from over 100 countries accepted the vision and mission of the GCO to be their starting point and the outcome of their business.
The vision is the world in which business and capital market is a promoter of welfare of the humankind and protection of the bio-systems and resources of the planet Earth.
The mission is to lead and encourage partnerships in caring for the environment by motivating, informing, and enabling nations and peoples to improve their quality of life without compromising that of future generations.
The International Organization for Standardization has recognized the importance of GCO initiative and formed working groups which should, by the end of 2008, issueISO 26000 Social Responsibility Standardsin terms of guidelines and signposts. The inclusion of standards would be voluntary and would not be subject to mandatory certification.
10 GCO principles that should be an integral part of the regulatory framework of socially responsible corporate governance refer to: corruption, environmental protection, protection of human and labor rights.
The rules of corporate governance in the world require policies and procedures established for the prevention of corruption, as part of the mechanism for the protection of reputation and interests of shareholders, as well as for the security of personnel and property.
In the interest of the business there are many reasons for companies to protect themselves from the practice of corruption in a transparent manner in accordance with the law.Zero tolerance is the only practical solution. Only free and fair competition ensures sustainable business in the long run. The key challenges of the environment require thinking and responsible daily decision-making.
Savings and efficient energy consumption is the cheapest, fastest and most powerful source of energy.
Human rights are universal and belong to everyone equally. They are proclaimed in 1948 by the Universal Declaration of Human Rights. These are: equality, life and security, personal freedom, economic, social and cultural independence.
The principles and rights from the Declaration of the International Labor Organization proclaimed by GCO relate to the freedom of association and collective bargaining, the exclusion of all forms of forced labor, abolition of child labor and the exclusion of discrimination in respect of employment and occupation.
Under the slogan "It is good to be good", the agency MaŠta, Mozaik Foundation and International Finance Corporation (IFC) organized the third in a row campaign for the selection and promotion of corporate social responsibility - Dobro '10. Dobro '10 is a campaign for the promotion of corporate social responsibility and corporate governance practices, participated by 154 companies which operate on the territory of Bosnia and Herzegovina and which went a long way from nominations to the final selection. The best of the best were selected by the Supreme Committee, consisting of prominent experts in the area of corporate governance, including the representatives of the IFC, the Swiss State Secretariat for Economic Affairs (SECO) and the Royal Netherlands Embassy. The official ceremony was held in the Youth Centre in Sarajevo, with the presence of distinguished guests, members of the diplomatic corps, representatives of the best companies in the country, and a large number of media.
The awards were presented for the best companies in five categories: - corporate governance and socially responsible practices, - environmental concerns, - corporate philanthropy, - private companies, - corporate philanthropy, - state owned enterprises, - corporate philanthropy, - financial institutions.
Out of 154 competing companies, government and financial institutions, Nova banka a.d. Banja Luka won the award as the best example of corporate governance and socially responsible business operations in Bosnia and Herzegovina in 2010.
The presented awards represent a unique recognition for profitable companies in Bosnia and Herzegovina with demonstrated vision, clear strategy and responsible management.
It has been proved once again: "It is good to be good!"
On 12 October 2011, in the selection of socially responsible companies of the year, Nova banka a.d. Banja Luka received the prestigious award Dobro '11 in the category corporate governance. Dobro '11, campaign in Bosnia and Herzegovina which promotes social responsibility, has been launched by the Mozaik Foundation, in cooperation with the Agency MaŠta and the International Finance Corporation (IFC), a member of the World Bank.
157 companies were nominated in this year's selection, and at the official ceremony which was organized in the Congress Hall of the Holiday Inn Hotel in Sarajevo, Nova banka received the award in the competition of 14 finalists. Milan Radović, MSc, Managing Director of the Bank received the award on behalf of Nova banka.
The awards were presented in the following categories: award for the company in the field of corporate governance, award for philanthropy for private companies, award for philanthropy for public companies, award for philanthropy for financial institutions, award for philanthropy for small and medium-sized enterprises and the award for environmental companies.
In 2010 Nova banka was also declared the best example of corporate governance and socially responsible business operations in Bosnia and Herzegovina, which shows the continuous improvement of responsible business practices.