Case study: How SBAB works with its clients and customers to encourage sustainable practices
SBAB offers a range of innovative and thoughtful loan and savings products, as well as other services aimed at improving housing and household finances for private individuals, tenant-owner associations, and property companies in Sweden. SBAB strives to support its customers through all stages of home ownership – whether buying, selling, or simply living in a home – and finances approximately 10% of all housing in Sweden and one out of every six newly built apartments. SBAB 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 Annual Report by SBAB, 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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With this case study you will see:
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- How SBAB proceeded with stakeholder identification and consultation, and
- How SBAB 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.
In 2023, SBAB worked alongside other banks within the Swedish Bankers’ Association’s groups to develop methodologies for calculating financed emissions and establish common requirements for corporate clients in the construction industry. This effort involved discussions, workshops, and surveys with the Board, Executive Management, partners, customers, and employees, as part of SBAB’s updated materiality assessment for the year.
How did SBAB work with its clients and customers to encourage sustainable practices and enable sustainable economic activities?
In its 2023 Annual Report SBAB reports that it works with its clients and customers to encourage sustainable practices and enable sustainable economic activities as follows:
In 2023, SBAB began both internal and external discussions with customers to enhance the development of green, sustainable loan products and focused on green and Taxonomy-aligned offerings aimed to achieve climate goals, including Green investment loans, sustainability-linked loans, and various collaborations and tools with Hemma and Ecoclime to assist customers in boosting energy efficiency. Additionally, SBAB, in collaboration with other banks, established shared requirements for corporate clients to combat financial crime and ensure fair working conditions. These requirements facilitate the monitoring of construction sites and target setting.
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 SBAB, 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.sbab.se/download/18.476dd96218dc44a3ffe1f25/1710863335147/SBAB ÅR 2023_ENG.pdf
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