Case study: How Aurskog Sparebank 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.

• Good dialogue with Aurskog Sparebank’s stakeholders is important.
• Aurskog Sparebank’s stakeholder groups include customers, shareholders, investors, employees, the Eika Alliance with alliance banks and product companies, authorities, partners (which encompass partners, interest organizations, teams, associates, and suppliers), and local communities.
  • Aurskog Sparebank has engaged with several of these stakeholder groups on sustainability topics and the work with PRB.
    • Customers – Aurskog Sparebank engages with customers on sustainability topics related to their homes, jobs, businesses, and offers tips on sustainability in their everyday lives.
    • Shareholders – Some shareholders are particularly interested in Aurskog Sparebank’s strategy for sustainability, its targets, and the progress made.
    • Investors – Certain investors annually evaluate Aurskog Sparebank’s efforts on sustainability topics. Regular meetings are held with some major investors, both one-on-one and in presentations alongside other banks, where sustainability is always a key focus. During these meetings or presentations, Aurskog Sparebank discusses its sustainability strategy, engagement with customers and local communities, and showcases the progress achieved.
    • Employees – Many employees are actively involved in sustainability initiatives. Internally, a small group of ambassadors collaborates with the Head of Sustainability on various projects.
    • Eika Alliance, Eika Group, and Alliance-banks – Eika provides resources that focus on sustainability daily and offers assistance with advice and discussions. In 2023, Eika initiated a CSRD project in which Aurskog Sparebank participates. The Head of Sustainability from Aurskog Sparebank also takes part in a subject committee for sustainability within Eika.
    • Authorities – The Norwegian Financial Supervisory Authority emphasizes sustainability in its supervision of banks and publishes frameworks and regulations related to sustainability.
    • Partners and local communities – Aurskog Sparebank engages in discussions about sustainability with several partners, including recipients of gifts and sponsorships, business associations, and suppliers. Efforts are made to involve local newspapers in sustainability topics.
• Aurskog Sparebank maintains good and regular dialogue with each individual stakeholder group.
• The stakeholder groups vary in their interests, prompting Aurskog Sparebank to utilize different communication channels tailored to each group.

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

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

• To achieve its targets, Aurskog Sparebank must collaborate closely with customers.
• Through effective discussions and financial advice, Aurskog Sparebank can foster increased awareness of sustainability and climate risk.
• By asking customers questions about sustainability topics, Aurskog Sparebank can make informed assessments related to risk, both for the customers and the bank. The responses can enhance Aurskog Sparebank’s knowledge of sustainability topics across various sectors.
• Aurskog Sparebank engages in discussions about sustainability with private customers, for example, by addressing the need to upgrade older homes to better energy standards.
• Dialogues about sustainability also take place with deposit customers and investors. Aurskog Sparebank offers a green savings account and provides opportunities for investing in funds that have a sustainability label. Before advising customers on investments, the advisor assesses the customers’ relationship with sustainability topics related to their investments.
• Aurskog Sparebank anticipates that more customers will express interest in green products and solutions as technology and solutions continue to evolve.
• Aurskog Sparebank shares information about various sustainability topics on social media and on its website.
• Sustainability has been a focal point in several themed meetings for both corporate and personal customers, in business associations, and at other gatherings with the local community, as well as in all investor presentations.

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), IEMA 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 Aurskog 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.aurskog-sparebank.no/Om-banken/Investorinformasjon/Rapporter

Note to Aurskog Sparebank: With each case study we send out an email requesting a comment on this case study. If you have not received such an email please contact us.