Case study: How Norion Bank works with its clients and customers to encourage sustainable practices

Norion Bank excels in offering financial solutions for both corporate clients and individuals, with a focus on supporting small and medium-sized businesses. Norion Bank’s corporate services encompass real estate lending, corporate lending across various sectors, factoring, and payment solutions. For private individuals, Norion Bank provides personal loans, invoice and payment by instalment services, credit cards, and savings accounts. Norion Bank is a signatory of the Principles for Responsible Banking (PRB) and is, accordingly, working with its clients and customers to encourage sustainable practices and enable sustainable economic activities.  Tweet This!

This case study is based on the 2022 PRB Reporting and Self-Assessment by Norion Bank, prepared in relation to its implementation of the PRB, that can be found at this link. Through all case studies we aim to demonstrate what 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.

Which Principles for Responsible Banking have been addressed?

The Principles for Responsible Banking addressed in this case are:

• • • Principle 3: Clients and Customers
      • 3.1 Client engagement
    • Principle 4: Stakeholders
      • 4.1 Stakeholder identification and consultation

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.

Norion Bank engages with its stakeholders through various methods. In 2022, this involved continuous dialogue with customers and potential customers about ESG, launching a corporate accelerator programme, and partnering with Junior Achievement. By maintaining ongoing conversations with its stakeholders, Norion Bank can fulfill their expectations and adjust to evolving circumstances, ultimately enhancing its sustainability and long-term success.

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

In its 2022 PRB Reporting and Self-Assessment Norion Bank reports that it works with its clients and customers to encourage sustainable practices and enable sustainable economic activities as follows:

Having effective processes and procedures in place is crucial to Norion Bank’s strategy and governance. This is a continuous effort, and the bank is committed to further refining and improving its procedures and processes. Throughout the year, Norion Bank published policy documents on its website and created a red list to exclude certain economic activities that have the greatest negative impact.

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 Norion Bank, 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://docs.norionbank.se/globalassets/3-om-bolaget/3.2-hallbarhet/3.2.4-omtanke/prb-2022-norion-bank.pdf

Note to Norion Bank: 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.