Case study: How Resurs works with its clients and customers to encourage sustainable practices
Resurs Holding (Resurs), operating through its subsidiary Resurs Bank, is the leading provider of retail finance in the Nordic region, offering payment solutions, consumer loans, savings and niche insurance products. Since its founding in 1977, Resurs Bank has become a top partner for sales-driven payment and loyalty solutions in retail and e-commerce, amassing a customer base of about six million private customers in the Nordics. By the end of Q4 2023, the Group had 660 employees and a loan portfolio valued at SEK 38.8 billion. Resurs 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 2023 PRB Reporting and Self-Assessment Template by Resurs, 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:
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- Principle 3: Clients and Customers
- Principle 4: Stakeholders
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- How Resurs proceeded with stakeholder identification and consultation, and
- How Resurs worked with its clients and customers to encourage sustainable practices and enable sustainable economic activities
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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.
Resurs engages with various stakeholders daily and through multiple channels. A materiality analysis is conducted and updated biennially to remain current in several areas. The most recent assessment, conducted in 2022, helps Resurs identify the sustainability topics most important to stakeholders and their expectations for the company. Additionally, the assessment provides insight into the impact of Resurs’s operations on the economy, society, people, and the environment. With the ongoing work within the CSRD, updates are being made to meet the significant requirements of double materiality, aiming to further enhance the sustainable business strategy.
How did Resurs work with its clients and customers to encourage sustainable practices and enable sustainable economic activities?
In its 2023 PRB Reporting and Self-Assessment Template Resurs reports that it works with its clients and customers to encourage sustainable practices and enable sustainable economic activities as follows:
Resurs implements various policies, guidelines, and instructions for the bank, management, employees, and customers to optimize company operations. Key policies and guidelines include the Code of Conduct, Sustainability Policy, Environmental Policy, and Supplier Code of Conduct. Additionally, Resurs has established Responsible Marketing guidelines to positively influence this area both internally and externally. Resurs is also developing guidelines for Retail Finance Partners, categorized as “Green, Yellow, and Red” areas, to facilitate proactive work and risk minimization. Customers and clients are included in the materiality analysis, which is crucial for understanding the needs and focus areas of each stakeholder.
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
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- 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.
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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 Resurs, 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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