NIB's internal procurement

NIB has established internal rules for the procurement of goods and services. This page provides a summary of the procurement process as well as a link to NIB's Supplier Sustainability Questionnaire.

General

As an international organisation, NIB is not subject to national or EU procurement legislation, and the Bank’s procurement process is not public. Accordingly, NIB has established internal Procurement Rules that set forth the procedures and rules for the internal procurement of goods and services for NIB.

The Procurement Rules apply to goods and services that are used internally at the Bank and include, by way of example, consultancy and training services, IT applications and software purchases, and office renovation. The main objective of the Procurement Rules is to manage costs and expenses in an efficient manner and to create sound competitive and cost advantages for NIB. The Rules also aim to ensure appropriate management of financial and reputational risks, and to safeguard that objective and transparent processes are applied at NIB.

The starting point is that competitive bidding shall be used for procuring goods and services.

NIB applies fixed monetary thresholds for its internal procurement, whereby minor procurements can be undertaken without competitive bidding through direct engagement, and a lighter competitive procedure can be applied where the total monetary value of the procurement is moderate.

Procurements with a significant total monetary value shall be subject to a full-scale competitive bidding procedure. For certain special procurement categories and/or if profound justified reasons exist, direct engagement is possible to undertake even where the established monetary thresholds would otherwise require competitive bidding procedures to be applied. A procurement supplier selection and the procurement outcome shall be based on objective criteria and the most advantageous offer in terms of cost efficiency, quality of goods or services (including sustainability aspects) and best suitability for NIB’s needs shall govern the selection. Complaints regarding procurements shall be made in writing and directed to NIB’s Office of the Chief Compliance Officer.

 

Sustainability and ESG aspects

NIB promotes sustainable growth in its business operations. NIB finances projects with positive impacts on the society and environment, and similarly seeks to create positive impact though its purchasing. NIB recognises that taking environmental, social and governance (ESG) aspects into account is an essential part of sustainable development. NIB favours sustainable solutions in its internal procurement to the extent possible.

NIB has established an Internal Sustainability Council with members representing various functions at NIB (which includes procurement) that act as a central reference point for all of NIB internal sustainability matters. The Sustainability Council shall provide advice and expert input when needed concerning any ESG related aspects as part of the internal procurement process.

An ESG assessment shall be undertaken in accordance with the Procurement Rules for a procurement. NIB uses a Supplier Sustainability Questionnaire in its procurement process. The Supplier Sustainability Questionnaire tries to capture information related to a supplier’s sustainability commitment, policies, governance, reporting, priorities and plans, and includes the sustainability aspects related to procured products or services. Results of the ESG assessment shall be taken into account as part of the procurement evaluation and selection criteria.

NIB's Supplier Sustainability Questionnaire

 
 

Ethical and integricty aspects

NIB is committed to maintaining the highest level of ethical behaviour in its own activities and with respect to its suppliers. NIB’s Compliance, Integrity and Anti-Corruption Policy shall be applied also with respect to the internal procurement process. An integrity due diligence check is undertaken for all procurements. NIB’s Office of the Chief Compliance Officer (OCCO) can be consulted in any matter relating to the ethical and integrity procedures.

 

 

NIB's legal framework

An overview of NIB's legal frameworks and policy documents

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Compliance

Contact NIB's Chief Compliance Officer to report misconduc or non-compliance 

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