Case study: How SBAB creates economic value for its stakeholders
SBAB provides an innovative and considerate offering of loans and savings products and other services for better housing and household finances to private individuals, tenant-owner associations and property companies in Sweden, financing about 10% of all housing in the country. SBAB focuses on delivering sustainable value to its employees and other stakeholders, also promoting a national economy that is sustainable over the long term.
This case study is based on the 2021 Annual Report by SBAB, prepared in accordance with the GRI Standards, that can be found at this link. Through all case studies we aim to demonstrate what CSR/ ESG/ sustainability reporting done responsibly means. Essentially, it means: a) identifying a company’s most important impacts on the environment, economy and society, and b) measuring, managing and changing.
Abstract
Creating long-term value for both SBAB and its stakeholders through sound finances and the ability to maintain a sustainable business, is a top priority for SBAB. Tweet This! In order to create economic value for its stakeholders SBAB took action to:
- create economic value for employees
- create economic value for the state
- create economic value for lenders
- create economic value for the public
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With this case study you will see:
- Which are the most important impacts (material issues) SBAB has identified;
- How SBAB proceeded with stakeholder engagement, and
- What actions were taken by SBAB to create economic value for its stakeholders
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What are the material issues the company has identified?
In its 2021 Annual Report SBAB identified a range of material issues, such as business ethics and transparency, secure IT systems and integrity, product development and innovation, community engagement, financial stability. Among these, creating economic value for its stakeholders stands out as a key material issue for SBAB.
Stakeholder engagement in accordance with the GRI Standards
The Global Reporting Initiative (GRI) defines the Principle of Stakeholder Inclusiveness when identifying material issues (or a company’s most important impacts) as follows:
Stakeholders must be consulted in the process of identifying a company’s most important impacts and their reasonable expectations and interests must be taken into account. This is an important cornerstone for CSR / sustainability reporting done responsibly.
Key stakeholder groups SBAB engages with:
| Stakeholder Group | Method of engagement |
| Customers
| · The internet (www.sbab.se) · Telephone · Customer surveys (SKI, brand surveys, customer panels, focus groups, etc.) · Social media · Customer and support forum · Blogs · Personal meetings · Customer meetings · Seminars and conferences · The AGM · Marketing communication |
| Employees | · Performance evaluations · Meetings · Employee surveys · Workplace dialogues with trade unions · Monthly and departmental meetings · The intranet · AGMs · CEO blogs |
| Owner & investors
| Owner: · Ownership policy · Owner instructions · Continuous ministerial contacts · Board representation · AGMs · Network meetings Investors: · Personal meetings · Group presentations · Financial statements · www.sbab.se |
| The public
| · Personal meetings · Network meetings · Seminars and conferences · Media · Blogs · Social media · AGMs · Marketing communication |
How stakeholder engagement was made to identify material issues
To identify and prioritise material topics SBAB engaged with its stakeholders through interviews and surveys.
What actions were taken by SBAB to create economic value for its stakeholders?
In its 2021 Annual Report SBAB reports that it took the following actions for creating economic value for its stakeholders:
- Creating economic value for employees
- In 2021, SBAB paid SEK 786,024 thousand for employee salaries and remuneration.
- Creating economic value for the state
- In 2021, SBAB paid SEK 560,094 thousand in tax. In addition, SBAB paid SEK 221,328 thousand in fee for national deposit guarantee and resolution fee, which help maintain financial stability in society.
- Creating economic value for lenders
- In 2021, SBAB paid SEK 1,098,385 thousand in interest.
- Creating economic value for the public
- In 2021, SBAB paid SEK 604,351 thousand in interest to the public (deposits).
Which GRI Standards and corresponding Sustainable Development Goals (SDGs) have been addressed?
The GRI Standard addressed in this case is: Disclosure 201-1 Direct economic value generated and distributed
Disclosure 201-1 Direct economic value generated and distributed corresponds to:
- Sustainable Development Goal (SDG) 8: Decent Work and Economic Growth
- Targets: 8.1, 8.2
- Sustainable Development Goal (SDG) 9: Industry, Innovation and Infrastructure
- Targets: 9.1, 9.4, 9.5
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References:
This case study is based on published information by SBAB, located at the link below. For the sake of readability, we did not use brackets or ellipses. However, we made sure that the extra or missing words did not change the report’s meaning. If you would like to quote these written sources from the original please revert to the following link:
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