Case study: How Sparebanken Sør works with its clients and customers to encourage sustainable practices

Stakeholder identification and consultation

Please describe which stakeholders (or groups/ types of stakeholders) you have identified, consulted, engaged, collaborated or partnered with for the purpose of implementing the Principles and improving your bank’s impacts. This should include a high-level overview of how your bank has identified relevant stakeholders, what issues were addressed/results achieved and how they fed into the action planning process.

Primarily, internal interest groups participate in Sparebanken Sør’s processes, with the most significant being the board, group management, and the divisions responsible for the operational implementation and follow-up of relevant ESG topics.

In addition, Sparebanken Sør engages external consultants in various processes and seeks advice from its auditor on these matters, mainly during audit activities. Customers and investors also serve as valuable stakeholders for discussions. Under the umbrella of Finans Norge, Sparebanken Sør collaborates with other banks on various initiatives, including projects like PCAF, and Sparebanken Sør holds a seat on Finans Norge’s Sustainability Committee alongside other major Norwegian banks, insurance companies, and life insurers. Sparebanken Sør finds that engaging with other banks is particularly beneficial, as they face similar challenges and share key issues. Norwegian regulators, such as Finanstilsynet (the Norwegian FSA), are also central partners and policymakers in Sparebanken Sør’s climate and nature work. International organizations and joint frameworks—such as PCAF, SBTI, Sustainalytics, Moody’s, UNEP PRB, EU taxonomy, and CSRD—play crucial roles in standardizing and advancing the sustainability field. These stakeholders provide Sparebanken Sør with valuable insights and influence. As part of its impact analysis for 2024 under CSRD, Sparebanken Sør will continue mapping, engaging, and collaborating with relevant stakeholders. Sparebanken Sør is also active in several national and regional projects and stakeholder groups focused on sustainability. A key element of Sparebanken Sør’s Transition Plan involves dialogue, cooperation, and setting requirements for its customers to reduce their climate emissions. This area is critical to achieving Sparebanken Sør’s own climate targets, aligning with the Paris Agreement, and protecting natural ecosystems.

How did Sparebanken Sør work with its clients and customers to encourage sustainable practices and enable sustainable economic activities?

In its 2023 PRB Reporting and Self-Assessment Template Sparebanken Sør reports that it works with its clients and customers to encourage sustainable practices and enable sustainable economic activities as follows:

All Sparebanken Sør corporate loan cases exceeding 8 million are required to incorporate an ESG assessment, with particular emphasis on climate and nature. In this context, the customer manager at the bank will engage in communication, gather information, and offer guidance on sustainability topics and relevant sustainability products to the customer. This ongoing dialogue is essential for fostering mutual expertise and understanding.

UN Principles for Responsible Banking: Accelerating a positive global transition for people and the planet

With over 300 signatory banks representing almost half of the global banking industry, the Principles for Responsible Banking are the world’s foremost sustainable banking framework. Through these Principles, the banking community takes action to align core strategies, decision-making, lending and investment with the UN Sustainable Development Goals and international agreements such as the Paris Climate Agreement.

FBRH Principles for Responsible Banking (PRB) Assurance:

First class PRB assurance services: The result of solid, hands-on ESG/ Sustainability experience

• • • FBRH is a GRI Certified Training Partner (Global), ISEP Training Centre and a member of CPD.
    • FBRH builds trust. Over 200 reviews from top professionals from around the world demonstrate our ability to build strong, trusting business relationships.
    • FBRH possesses a unique skill set that combines ESG/sustainability certified training, experience in advisory services and report preparation, and ESG/sustainability report assurance.

The combination of all the above empowers FBRH to provide first class Principles for Responsible Banking (PRB) assurance services.

References:

This case study is based on published information by Sparebanken Sør, 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:

https://www.sor.no/globalassets/organisasjon/barekraft/2023-reporting-self-assessment-template-sparebanken-sor.pdf

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