Case study: How SpareBank 1 Nordmøre works with its clients and customers to encourage sustainable practices
SpareBank 1 Nordmøre provides conventional banking services, including payment solutions, loans, savings accounts, and insurance. Its operations are focused on serving both the Personal Banking and Business Banking sectors and is based in the northwest/middle region of Norway, with branches in Møre og Romsdal and Trøndelag. The bank employs around 150 staff members and serves a total of approximately 50,000 clients. SpareBank 1 Nordmøre 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 Template by SpareBank 1 Nordmøre 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 SpareBank 1 Nordmøre proceeded with stakeholder identification and consultation, and
- How SpareBank 1 Nordmøre 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.
SpareBank 1 Nordmøre engaged its stakeholders during the update of its materiality analysis by conducting interviews and distributing questionnaires to various groups, including:
- Employees
- Owners
- Local community members
- Vendors
Through these dialogues, SpareBank 1 Nordmøre explored which sustainability issues are most significant to its stakeholders and identified the areas of greatest importance.
How did SpareBank 1 Nordmøre work with its clients and customers to encourage sustainable practices and enable sustainable economic activities?
In its 2022 PRB Reporting and Self-Assessment Template SpareBank 1 Nordmøre reports that it works with its clients and customers to encourage sustainable practices and enable sustainable economic activities as follows:
This is part of SpareBank 1 Nordmøre’s revised Sustainability Strategy, under which SpareBank 1 Nordmøre will:
• Offer incentives to its clients to encourage sustainable practices, such as reduced prices on loans.
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 SpareBank 1 Nordmøre, 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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