Case study: How Fana Sparebank identifies and works on strategic business opportunities to increase positive and reduce negative impacts

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.

Stakeholder dialogue allows Fana Sparebank to prioritize and gain valuable insights into the areas where the bank should focus its efforts. Throughout 2023, the primary emphasis was on key resources, with the goal of boosting employee engagement and fostering a sense of ownership over organizational initiatives.

Key Resources – Engage (High influence and high interest)
These stakeholders wield significant influence and have a strong interest in utilizing it. They should be kept satisfied and actively involved in the bank’s initiatives.
• The board of directors, management, employees, subsidiaries, suppliers, and customers

Satisfy (High influence and low interest)
While these stakeholders have considerable influence, they have little interest in using it.  It is important to meet their expectations and keep them satisfied during the project.
• Authorities, rating agencies and analysts, capital markets and stock exchange, industry groups, and NGOs

Keep Informed (Low influence and high interest)
These stakeholders are interested in the bank’s activities but have limited influence. They may offer useful insights and should be kept informed.
• The local community, media, educational institutions, and research organizations

Fana Sparebank maintains open communication channels and actively participates in various networks with other stakeholders, including competitors and similar independent savings banks, to share experiences and insights.

How did Fana Sparebank identify and work on strategic business opportunities to increase positive and reduce negative impacts?

In its 2025 PRB Reporting and Self-Assessment Template Fana Sparebank reports that it identified and worked on strategic business opportunities to increase positive and reduce negative impacts as follows:

Strategic Business Opportunities and Sustainable Product Innovations
Fana Sparebank has strategically positioned itself to both reduce environmental impacts and capitalize on business opportunities that advance sustainability. Its strategy focuses on developing and improving financial products and services that foster environmental responsibility and social commitment, aligning closely with the Sustainable Development Goals (SDGs).

Green Savings and Deposits:
Since 2016, Fana Sparebank’s Green Savings account initiative—aligned with the Green Bond Principles established by the International Capital Market Association (ICMA)—has marked a pioneering effort to embed sustainability into its banking practices. In 2020, Fana Sparebank expanded this initiative to include all current and savings accounts for clients under 18, further integrating these efforts within its wider Green Finance Framework.

Green Mortgages:
In 2020, Fana Sparebank strengthened its commitment to sustainable finance by launching Green Mortgages. These mortgages are offered at its most competitive interest rates to support home improvements that achieve an Energy Performance Certificate (EPC) rating of ‘A’ or ‘B’. The initiative also extends to commercial real estate, rewarding properties with classifications such as BREEAM Outstanding or Excellent, thereby encouraging higher energy efficiency and sustainability standards in both residential and commercial property sectors.

Future Initiatives and Impact Focus:
Fana Sparebank is proud to introduce new green product offerings designed to encourage investments in energy efficiency technologies for both retail and corporate clients. These loans will be available for projects that can demonstrate energy efficiency improvements of 30% or more. These upcoming products aim to further minimize environmental impacts while maximizing positive social outcomes.

Value and Impact Measurement:
Since their launch, Fana Sparebank’s green financial products have provided its customers with sustainable investment and savings options. Green Deposits and Mortgages directly contribute to several SDGs, including SDG 7 (Affordable and Clean Energy), SDG 11 (Sustainable Cities and Communities), and SDG 13 (Climate Action), by promoting greater financial inclusion in sustainable economic activities and supporting investments in energy efficiency and renewable energy.

Through these targeted products and services, Fana Sparebank is not only seizing strategic business opportunities but also reaffirming its dedication to sustainability and responsible banking principles. Fana Sparebank remains committed to expanding its green finance offerings and enhancing their impact, contributing to a more sustainable and equitable future.

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 Fana Sparebank, 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.fanasparebank.no/siteassets/dokumenter/rapporter/fana-sparebank/fns-klimainitiativ/prb-reporting-and-self-assessment-2025.pdf

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