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.

Effective stakeholder engagement enables NAB to better understand expectations, identify potential issues, and discover opportunities for improvement. In 2024, NAB continued its engagement efforts through its ESG Materiality assessment and by focusing on its priority impact areas.

• NAB’s approach to stakeholder engagement is outlined in its Sustainability Policy and is guided by the AA1000 Stakeholder Engagement Standard.
• The annual materiality assessment includes questions about stakeholders’ perceptions of how NAB can enhance its positive impacts and mitigate negative ones.
• NAB has a well-established process for identifying and engaging with key stakeholders; for instance, stakeholders are regularly consulted during reviews of major policies.
• NAB participates in various partnerships and industry initiatives across multiple topics, including natural capital and biodiversity, improved outcomes for First Nations peoples, sustainable agribusiness, climate risk and scenario analysis, and a just and inclusive transition to a low-carbon economy.
• The bank also engages with policymakers on issues such as climate change, biodiversity, modern slavery, affordable housing, and other sustainability concerns through industry associations and direct interactions.

For more details on NAB’s stakeholder engagement approach and specific examples from 2024, please refer to page 21 of the bank’s 2024 Annual Report, NAB’s website, and page 14 of the 2024 Climate Report.

What actions were taken by NAB on its PRB targets, climate change, affordable and specialist housing and indigenous economic advancement?

In its 2024 PRB Reporting and Self-Assessment Template NAB reports that it took the following actions on its PRB targets, climate change, affordable and specialist housing and indigenous economic advancement:

• SMART Target 1: Climate change
•  In NAB’s 2021 Annual Review, the bank first announced its intention to establish and publish emissions reduction targets for the majority of its Australian lending portfolio. Since then, NAB has joined the NZBA and is setting sector decarbonisation targets aligned with pathways to reach net zero by 2050, aiming to limit global warming to 1.5°C above pre-industrial levels by 2100. As part of this commitment, NAB has established twelve interim sectoral decarbonisation targets (‘sector targets’) for its lending across eight high-emitting sectors, with five of these targets set in 2024.
• Moreover, NAB has set facilitated emissions targets for fossil fuel sectors—such as power generation, oil and gas, and thermal coal—in line with the updated UNEP FI Guidelines. Sector decarbonisation targets encompass approximately 70% of the financed emissions resulting from NAB’s total lending activity. Details on these targets, including baseline data, can be found on pages 9-22 of NAB’s Supplementary Climate Disclosures and pages 41-68 of the 2024 Climate Report. The 2024 Climate Report also reports progress against NAB’s 12 sector decarbonisation targets and acknowledges that the bank is still in the early stages of implementing these initiatives. For further information, see the Metrics and Targets section starting on page 42 of NAB’s Climate Report.
• Key activities in 2024 to advance progress toward these decarbonisation goals included:
  • Enhancing the Customer Transition Plan (CTP) assessment framework for a targeted group of customers.
  • Expanding NAB’s risk and governance capabilities, as well as increasing investments and partnerships to strengthen market support for customer transitions.
  • Rolling out new sector-specific e-learning climate training programs for NAB employees, complementing existing climate foundational and risk e-learning based training programs. Additional details on these activities are available in NAB’s 2024 Climate Report.

• SMART Target 2: Affordable and specialist housing
• In 2024, NAB allocated $2.1 billion in financing toward its goal of lending at least $6 billion to help more Australians access affordable and specialist housing by 2029. Since the target’s inception at the end of 2022, NAB’s cumulative progress reached $4.4 billion in 2024.
• Section 2.1 (d) of NAB’s self-assessment outlines the actions taken in 2024, including financing initiatives, partnerships, and advocacy efforts aimed at supporting homeownership for essential workers, younger Australians, and individuals on low incomes. It also describes ongoing efforts to deepen NAB’s understanding of the impact in this area. For further details, see page 29 of NAB’s 2024 Annual Report.

• SMART Target 3: Indigenous economic advancement
• NAB’s total lending to First Nations business and community organizations increased by over 11%(1) to $463.8 million in 2024 and continues to advance toward NAB’s $1 billion target by December 2026. The bank has further expanded its network of specialized business bankers across the country and is actively building relationships to support funding for First Nations businesses and community organizations to promote their economic development.
• As outlined in Section 2.1 of NAB’s self-assessment, the NAB Foundation funded research in 2024 to explore opportunities for Indigenous businesses, as well as the structural barriers to growth, including the role of the financial system. In 2025, NAB plans to deepen its understanding in this area, including how to define and measure the impact of its initiatives.
• NAB’s other targets aimed at fostering greater economic prosperity for Indigenous Australians are detailed in NAB’s RAP (2024-2027). The NAB RAP Council, composed of senior executives, monitors progress against these targets. The bank has centralized program funding and created dedicated roles within the First Nations Affairs, Procurement, and People & Culture teams to drive progress and impact.
• For more information, see NAB’s 2024-2027 RAP and page 28 of NAB’s 2024 Annual Report, which provides additional details on NAB’s activities in this area.

 

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), 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.

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 NAB, 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.nab.com.au/content/dam/nab/documents/reports/corporate/principles-for-responsible-banking-self-assessment.pdf

Note to NAB: 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

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.

As part of its impact analysis and target-setting process, Absa interacts with a diverse range of stakeholders, including clients, investors, regulatory authorities, NGOs, and communities. Absa’s engagement approaches encompass consultations, partnerships, and collaborations, designed to collect insights and feedback that guide the bank’s sustainability initiatives. These interactions enable Absa to understand stakeholder views on key issues, determine priorities, and develop its sustainability commitments and action strategies.

What actions were taken by Absa on its PRB targets, sustainable finance and own carbon reduction?

In its 2023 Principles for Responsible Banking Report Absa reports that it took the following actions on its PRB targets, sustainable finance and own carbon reduction:

• SMART Target 1: Sustainable finance
• Since 2021, Absa’s sustainable finance initiatives have mobilized R80.2 billion, bringing Absa closer to its R100 billion target by 2025 and demonstrating its commitment to sustainable development. In 2023, Absa advanced this effort by an additional R31.0 billion, compared to R30.5 billion in 2022.

• SMART Target 2: Own carbon reduction
• Absa’s 2023 goal was to cut its carbon emissions by 5% across Scope 1, 2, and 3. However, Absa surpassed this target, achieving an 11% reduction in carbon emissions for the year, primarily driven by decreased reliance on grid electricity due to ongoing load shedding in South Africa. To date, Absa has realized an overall reduction of 33% in carbon emissions, exceeding the cumulative target of 19% set for 2023.
• Absa’s total operational carbon emissions (Scope 1 and 2) stand at 3.8 tCO2e per annum (2022: 4.4 tCO2e), and its emission intensity ratio—measured as greenhouse gas emissions per square meter—has decreased from 0.156 tCO2e/m²/year in 2022 to 0.141 tCO2e/m²/year in 2023. Additionally, diesel-powered electricity has a lower emission factor per unit of electricity (kWh) compared to Eskom electricity.

 

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), 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.

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 Absa, 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.absa.africa/wp-content/uploads/2024/04/Absa-Group-Limited-Principles-for-Responsible-Banking-Report.pdf

Note to Absa: 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

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.

Spar Nord actively engages with its primary stakeholders—including customers, employees, investors, suppliers, regulators, and senior management. Their input is essential for understanding the significance of the Impact, Risks to, and Opportunities (IROs) related to the material sustainability issues Spar Nord identifies.

In 2024, as part of its preparations for its inaugural EU CSRD report, Spar Nord carried out engagement activities with both internal and external stakeholders. For further details on Spar Nord’s stakeholder engagement process, please refer to its Annual Report 2024, pages 60–66.

What actions were taken by Spar Nord on its PRB targets, climate change mitigation and resource efficiency and circular economy?

In its 2024 PRB Progress Summary Spar Nord reports that it took the following actions on its PRB targets, climate change mitigation and resource efficiency and circular economy:

• SMART Target 1: Climate change mitigation
• To achieve its climate goal of aligning its portfolio with net zero by 2050, Spar Nord has established several sub-targets focused on reducing financed emissions from Lending and Asset Management, as well as lowering emissions from its own operations. Spar Nord’s targets and initiatives are outlined in its Climate Plan, which serves as the bank’s transition strategy in accordance with the EU CSRD. Progress on the Climate Plan is reported annually alongside the bank’s financial statements. For more information, please refer to the Spar Nord Climate Plan and Spar Nord’s Annual Report 2024, pages 67–78.

• SMART Target 2: Resource efficiency and circular economy
• Spar Nord has conducted initial screenings of its business lending and investment portfolios using the EU Taxonomy Compass to assess their alignment with a Circular Economy. In addition, Spar Nord performed a mapping based on sector overview from the UN PRB’s guidance, “Circular Economy as an Enabler for Responsible Banking.” This mapping covered both the bank’s commercial lending and investment activities.
• Following these screening efforts, Spar Nord has not yet established a baseline or set specific targets for Resource Efficiency & Circular Economy due to the complexity of its operations and limited data insights. However, Spar Nord has adopted a progressive approach to target setting, with the intention to continue engaging in dialogue with its business customers regarding resource efficiency and circular economy practices. In 2025, Spar Nord planned to focus on identifying financing opportunities that support circular business models—such as recycling technologies and sharing economies—that extend product life and support resource efficiency. Additionally, Spar Nord aims to enhance data collection to establish a baseline and set quantitative targets and KPIs related to this impact area. For more details, please refer to Spar Nord’s Annual Report 2024, pages 77–78.

 

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), 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.

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 Spar Nord, 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://media.sparnord.dk/com/aboutsparnord/esg/PRB-Progress-Summary-2024.pdf

Note to Spar Nord: 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

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.

The implementation of the UN Principles for Responsible Banking is integrated into Arbejdernes Landsbank’s reporting and management of material topics in accordance with the Corporate Sustainability Reporting Directive.

Arbejdernes Landsbank employs a structured approach to gathering input that supports its business model and ensures that its activities generate positive outcomes for key stakeholders. The primary stakeholder groups involved include employees, customers, local communities, investors, regulatory authorities, suppliers, business partners, and workers within the value chain.

In preparation for the sustainability statement, Arbejdernes Landsbank conducted a double materiality assessment. This process engaged several employees who also provided perspectives representing the interests of the Group’s stakeholders.

No external stakeholders, including affected communities, were consulted during the double materiality assessment. Instead, internal stakeholders, given their expertise and roles, were able to represent the views of external stakeholders such as customers and investors.

What actions were taken by Arbejdernes Landsbank on its PRB targets, climate change mitigation and financial health and inclusion?

In its 2024 PRB Progress Statement Arbejdernes Landsbank reports that it took the following actions on its PRB targets, climate change mitigation and financial health and inclusion:

• SMART Target 1: Climate change mitigation
• Arbejdernes Landsbank is actively working to align its strategy and business model with the transition toward a sustainable economy and the goal of reducing global warming in accordance with the Paris Agreement. It has committed to achieving climate neutrality by 2050, with several interim targets established for the period up to 2030. These include goals for reducing greenhouse gas emissions from its own operations (scope 1 and 2) as well as emissions related to its financed activities (scope 3). Details of these targets can be found on page 93 of the Group’s annual report.

• SMART Target 2: Financial health and inclusion
• Arbejdernes Landsbank provides advice and services to hundreds of thousands of customers, including individuals, businesses, and associations.
• As society becomes more digitalized and technological innovations advance, an increasing portion of the Group’s services are being transformed into digital formats. Currently, Arbejdernes Landsbank’s primary focus is on promoting financial inclusion for private customers who may be at risk of exclusion if they are unable or unwilling to participate in the digital transition for various reasons.
• To support financial inclusion among its private customers Arbejdernes Landsbank implements several initiatives, such as a nationwide network of branches and ATMs, user feedback on digital services, and the provision of basic banking services free of charge.
• Arbejdernes Landsbank is in the process of developing a social program that aligns with the bank’s overall strategy and initiatives. This work is ongoing. As a result, AL Group has not yet established baseline metrics or set specific targets related to financial health and inclusion.
• For more information, please see the Group’s annual report on pages 120-123.

 

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), 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.

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 Arbejdernes Landsbank, 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.al-bank.dk/media/uobn5jh4/arbejdernes-landsbank-un-prb-progress-statement-2024.pdf

Note to Arbejdernes Landsbank: 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

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.

Corporate responsibility also involves engaging in regular dialogue with both external and internal stakeholders. Commerzbank actively and transparently communicates with these groups to understand and meet their expectations and needs, integrating their perspectives into its corporate strategy and sharing its own viewpoints.

Commerzbank particularly engages in dialogue with the following stakeholder groups:

• Shareholders and investors
• Research and academia
• Customers
• Suppliers
• Media
• Employees
• Competitors and the financial sector
• Non-governmental organizations (NGOs)
• Political entities
• Civil society

Commerzbank maintains relationships with numerous organizations and groups that approach it with requests, demands, or suggestions. The bank prioritizes engagement with stakeholder groups that significantly influence or are heavily impacted by its economic, environmental, or social performance.

The discussions on key issues related to social, economic, and financial policy are of great importance to Commerzbank.

To foster a constructive and critical engagement with its stakeholders, Commerzbank has established an external Sustainability Advisory Board. Comprising experts from politics, academia, society, NGOs, trade unions, and small and medium-sized enterprises, this board offers diverse insights and contributes to the ongoing development of Commerzbank’s sustainability strategy.

A comprehensive overview of Commerzbank’s stakeholder engagement can be found in its Sustainability Report (GRI Report).

What actions were taken by Commerzbank on its PRB targets, climate protection (net zero targets), biodiversity and women in management positions?

In its 2023 Non-Financial Report Commerzbank reports that it took the following actions on its PRB targets, climate protection (net zero targets), biodiversity and women in management positions:

• SMART Target 1: Climate protection (net zero targets)
• KPI 1: Commerzbank’s portfolio targets are outlined in its ESG framework, where they, along with the progress towards achieving them, are regularly updated.
• KPI 2: By the end of 2023, Commerzbank Aktiengesellschaft had mobilized €238 billion for sustainable financial products, towards a target of €300 billion by the end of 2025.
• KPI 3: In 2023, Commerzbank Aktiengesellschaft’s total CO2-equivalent emissions amounted to 76,591 tonnes. Commerzbank reached its interim goal of a 30% reduction in greenhouse gas emissions by 2025 (based on 2018 levels) ahead of schedule, with emissions of 78,402 tonnes in 2022—a reduction of 34.9%.

• SMART Target 2: Biodiversity
• Commerzbank set out its deforestation target in December 2023.

• SMART Target 3: Women in management positions
• By the end of 2023, women occupied 36.1% of management roles throughout the Group.

 

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), 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.

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 Commerzbank, 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.commerzbank.de/ms/documents/en/non-financial-report-2023.pdf

Note to Commerzbank: 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

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.

MUFG classifies its stakeholders involved in its business operations into the following groups: customers, business partners, employees, shareholders and investors, communities and society, and the environment. MUFG engages in constructive dialogue with each stakeholder group to gain valuable insights and foster a deeper understanding of MUFG. By considering stakeholders’ interests and addressing the social issues they face, MUFG aims to build trusting and cooperative relationships that support its sustainable growth and enhance MUFG’s corporate value over the medium to long term.

External Advisors
Furthermore, MUFG has appointed three external experts specializing in environmental and social issues as permanent advisors. MUFG’s board members regularly exchange views with these advisors and incorporate their expertise into MUFG’s sustainability initiatives through their advice and recommendations.

International Initiatives
MUFG actively participates in and supports various international initiatives to fulfill its responsibilities as a financial institution, respond to global expectations, and contribute to building a sustainable society. After announcing its Carbon Neutrality Declaration in May 2021, MUFG joined the United Nations Environment Programme Finance Initiative (UNEP FI) NetZero Banking Alliance (NZBA) in June of that year. MUFG also became a member of the Partnership for Carbon Accounting Financials (PCAF), an international effort to standardize the measurement and reporting of financed emissions. MUFG is one of 12 banks in the NZBA Steering Group, responsible for strategic decision-making, and in December 2021, was appointed Chair of the Financing and Engagement Work Track, leading the development of a global transition finance framework. In addition, MUFG participates in all global and APAC working groups of the Glasgow Financial Alliance for Net Zero (GFANZ), the largest pan-financial sector initiative worldwide. Masamichi Kono, Senior Advisor at MUFG Bank, has served as an Advisor for GFANZ Japan since its inception in 2023, and MUFG President & Group CEO Hironori Kamezawa was appointed Chair in July 2024. Regarding efforts related to natural capital and biodiversity, MUFG took part in the TNFD Forum in February 2022—a platform that provides technical support for sharing information and developing a TNFD framework. As an active member, MUFG participates in discussions within the TNFD Forum to promote initiatives around natural capital and biodiversity. Additionally, MUFG was registered as a TNFD Early Adopter in January 2024, demonstrating its commitment to providing disclosures aligned with TNFD recommendations at an early stage.

What actions were taken by MUFG on its PRB targets, climate change and natural capital and biodiversity?

In its 2024 PRB Reporting and Self-Assessment Template MUFG reports that it took the following actions on its PRB targets, climate change and natural capital and biodiversity:

• SMART Target 1: Climate change
• Examples of achievements related to MUFG’s action plan are presented below:
  • Power Company A (Japan): MUFG enhanced its understanding of the company’s decarbonization strategy by engaging in ongoing discussions with senior management and conducting site visits to power plant facilities. The strategy focuses on accelerating renewable energy development and transitioning to hydrogen power generation. Additionally, using the insights gained from the development of the Transition Whitepaper, MUFG issued transition-linked loans that set power generation emission reductions as the sustainability performance target.
• Furthermore, the FY2022 results for the emission intensity for the power sector and absolute emissions for the oil & gas sector indicators were 313 gCO₂e/kWh and 81MtCO2e, respectively.

• SMART Target 2: Natural capital and biodiversity
• Examples of achievements related to MUFG’s action plan include the following:
  • Metawater Co., Ltd.: MUFG served as the joint lead manager to facilitate the issuance of blue bonds, which are used to finance investments and loans to special purpose companies (SPCs) involved in concession projects, as well as to domestic and international companies operating in the water treatment sector.
  • Republic of Indonesia: MUFG supported the issuance of its first blue bond as a samurai bond. These bonds are designated for projects focused on marine and coastal protection, biodiversity and ecosystem restoration, sustainable fisheries, and related areas.
  • Chiba City: MUFG acted as bookrunner for the first blue bond issuance by a Japanese municipality. The proceeds were allocated to maintain sewerage facilities and equipment, such as pumping stations and purification centres, to help prevent water pollution.

 

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), 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.

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 MUFG, 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.mufg.jp/dam/csr/report/indices/prb2024_en.pdf

Note to MUFG: 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.

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.

Following the materiality assessment Desjardins conducted in 2017 on its sustainable development priorities, it surveyed its members in 2024, with the majority (73%) indicating that sustainability is important to them. Over recent years, Desjardins has carried out additional surveys with its personal and business members and clients to better understand their priorities and concerns related to sustainability and responsible finance. These surveys have provided valuable insights into Canadians’ understanding of sustainable development and responsible financial practices.

Engaging with its stakeholders has helped Desjardins identify what matters most to its members and clients. Desjardins has addressed these priorities in the “Listening to Our Stakeholders” section of its Social and Cooperative Responsibility Report. Additionally, Desjardins collaborates with government entities, regulators, and other standard-setting organizations on various issues, which are also detailed in this section.

Through numerous partnerships, Desjardins is dedicated to supporting communities in the energy transition and taking action against climate change and biodiversity loss. Desjardins’ collaborations promote university research and training, develop practical solutions for economic actors, and advance climate education and engagement.

Desjardins has participated in several working groups organized by UNEP FI to support the implementation of the Principles for Responsible Banking (PRB), the Principles for Sustainable Investment (PSI), and the Commitment to Financial Health and Inclusion. These groups facilitate discussions and collaborative efforts on ESG topics with financial institutions worldwide. Desjardins is also a member of the Climate Montreal Partnership (French only), a coalition of nearly 100 stakeholders from Montreal’s economic, philanthropic, institutional, and environmental sectors working together to accelerate decarbonization and enhance climate resilience in line with scientific timelines.

Furthermore, Desjardins is part of the Quebec Climate Partnership’s engagement committee (French only), which aims to mobilize Quebec City’s economic and social forces. As an ambassador for climate action in Quebec City, Desjardins contributes to setting priorities for action and plans to participate in future climate action summits held in the province’s capital.

What actions were taken by Desjardins on its PRB targets, climate stability and housing?

In its 2024 PRB Reporting and Self-Assessment Template Desjardins reports that it took the following actions on its PRB targets, climate change mitigation and financial inclusion and health:

• SMART Target 1: Climate stability
• Desjardins has established several targets to monitor its progress toward its 2040 climate goals and other climate-related commitments. Additionally, Desjardins has set targets for managing climate-related risks. These goals encompass its insurers’ investments, the financing Desjardins provides, and its operational activities. Desjardins formulated these targets based on recognized methodologies and frameworks, such as the Science Based Targets initiative (SBTi), the Net Zero Asset Managers initiative, and baseline climate transition scenarios aligned with the aim of limiting global temperature rise to 1.5°C or less than 2°C by the end of the century.
• As of December 31, 2024, eight targets were on track, while seven required further attention or were at risk.

• SMART Target 2: Housing
• Thanks to the faster-than-anticipated progress on this indicator, Desjardins anticipates surpassing this target in 2025. As of December 31, 2024, seven housing projects, totalling 1,182 units, were completed, while twelve projects, comprising 780 units, were under construction.
• Desjardins’ results indicate that it has reduced the wait times for project financing once all necessary information is provided. This leads to lower construction costs, allowing for more units to be built and maximizing benefits for Desjardins’ members and clients. Desjardins’ streamlined service and single-channel support enable it to address issues efficiently and effectively.

Number of affordable housing units, completed and in progress	2024	2023
Number of completed units	1,182	1,020
Number of in-progress units	780	194

 

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), 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.

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 Desjardins, 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.desjardins.com/content/dam/pdf/en/about-us/community/sustainable-development/reports/2024-principles-responsible-banking.pdf

Note to Desjardins: 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.

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 channels. In 2023, this involved ongoing discussions with customers and prospects about ESG matters. Additionally, Norion Bank incorporated ESG considerations into its Corporate Accelerator program and enhanced its partnership with Junior Achievement. By maintaining regular, open communication with its stakeholders, Norion Bank can align with their expectations, respond to a dynamic environment, and ultimately bolster its sustainability and long-term success.

What actions were taken by Norion Bank on its PRB targets, climate change mitigation and financial inclusion and health?

In its 2023 PRB Reporting and Self-Assessment Template Norion Bank reports that it took the following actions on its PRB targets, climate change mitigation and financial inclusion and health:

• SMART Target 1: Climate change mitigation
• Norion Bank’s primary strategy for reducing carbon emissions within its loan portfolio involves collaborating with its customers to support their transition and minimize their carbon footprint. In 2023, Norion Bank engaged in regular dialogue sessions with its clients to facilitate this process.
• Throughout the year, Norion Bank initiated an analysis of its credit portfolio to estimate the bank’s climate footprint (Scope 3 downstream), a project that continued into 2024. Norion Bank initially concentrated on segments where it believed the financed emissions were highest, such as the Real Estate and Corporate sectors. Norion Bank is also continuously refining its methodology for assessing customers’ ESG risks and opportunities and has implemented further systematization of its internal processes.
• Additionally, in 2023, Norion Bank conducted a comprehensive Scope 3 greenhouse gas (GHG) inventory to evaluate indirect emissions and other environmental impacts across its entire value chain. In 2024, Norion Bank performed environmental risk assessments focusing on climate-related risks—both physical and transitional—in accordance with the Task Force on Climate-related Financial Disclosures (TCFD) framework, to better understand the climate-related physical and transitional risks within its credit portfolio.

• SMART Target 2: Financial inclusion and health
• In 2024, Norion Bank initiated the implementation and monitoring of actions aimed at achieving this target.
• Examples of such KPIs included:
  • The total number of jobs created.
  • The number of jobs generated in regions with unemployment rates above the national average.

 

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), 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.

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-2023-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.

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.

Achmea Bank interacts with its stakeholders through various tools and methods to ensure alignment with society’s goals and values. Achmea Bank’s key stakeholder groups include employees, customers, partners, and investors. Achmea Bank engages with them through:

• Customer councils and customer-centric dialogue sessions
• Assessing service quality using Net Promoter Score (NPS)
• Conducting market research
• Employee councils
• Adherence to the Banking Code and Achmea Bank’s Code of Conduct
• Active participation in initiatives by the Dutch Banking Association, such as ‘Bankers in the Classroom’ and market research projects
• Building partnerships to advance Achmea Bank’s Sustainable Development Goals (SDGs), including collaborations with PCAF, EEM NL Hub, and the Sector Collective ‘Duurzaam Wonen’
• Engaging in dialogue with partners and investors

What actions were taken by Achmea Bank on its PRB targets, climate change mitigation and financial health and inclusion?

In its 2024 ESG Impact Report Achmea Bank reports that it took the following actions on its PRB targets, climate change mitigation and financial health and inclusion:

• SMART Target 1: Climate change mitigation
• SDG 11: An annual impact report detailing Achmea Bank’s carbon emissions, prepared using methodologies from the Partnership for Carbon Accounting Financials (PCAF). This report also outlines Achmea Bank’s carbon reduction targets and transition strategies.
• SDG 13: Achieving net-zero banking operations by 2030 and reaching net-zero financed emissions for Achmea Bank’s mortgage portfolio by 2050. Systematically reducing its environmental footprint is central to Achmea Bank’s sustainability efforts, which Achmea Bank pursues through a combination of emission reductions, increased efficiency, and offsetting measures.

• SMART Target 2: Financial health and inclusion
• SDG 10: Annually, Achmea Bank’s employees deliver guest lessons to young people on managing their finances, with a goal of a minimum of 50 lessons each year.
  SDG 10: in 2025, Achmea Bank established specific targets and plans to achieve further progress with this theme. While Achmea Bank already implements several programs related to this theme, it aims to enhance its impact by more deeply integrating it into its strategy, metrics, and objectives.

 

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), 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.

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 Achmea 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://www.achmeabank.nl/-/media/achmeabank/documenten/duurzaamheid/ratings-rapporten-lidmaatschappen/esg-impact-report-2024-achmea-bank.pdf

Note to Achmea 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.

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.

MCB actively engages with its key stakeholders through various channels to better understand their needs and effectively address them.

Below are some key consultations and collaborations that have contributed to achieving MCB’s targets:

• Engaged with MCB employees during the impact analysis process and the implementation of the Principles.
• Participated in committees and discussion groups with national authorities and institutions on topics such as climate change, renewable energy, carbon credits, and climate finance.
• Joined working groups and webinars organized by UNEP FI with peer banks to discuss, learn, and advance the implementation of the Principles for Responsible Banking, focusing on climate adaptation, circular economy, climate mitigation, and climate risks.
• Collaborated with IFC to deliver EDGE training to MCB’s clients, promoting green building practices.
• Received technical assistance from recognized international financial institutions to strengthen MCB’s sustainable finance framework.
• Worked with Proparco/DEG, which allocated a USD 120 million credit facility for climate finance, and facilitated training and capacity building on climate adaptation through a consulting firm appointed by Proparco.
• Contributed as a primary reviewer to the ‘Guide for Adaptation and Resilience Finance,’ developed by Standard Chartered Bank and published in April 2024.

What actions were taken by MCB on its PRB targets, climate and resources efficiency/waste/circular economy?

In its 2024 Sustainability Report MCB reports that it took the following actions on its PRB targets, climate and resources efficiency/waste/circular economy:

• SMART Target 1: Climate
• Between February 2023 and June 2024, disbursements totalling MUR 1.961 billion were made for climate mitigation projects across categories such as renewable energy, energy efficiency, green building, pollution prevention and control, and the circular economy.
• The market for climate adaptation remains in its early stages. MCB is referring to the UNEP FI Climate Adaptation Target Setting Guidance 2023 to enhance its approach, establish specific climate adaptation targets, and identify opportunities for adaptation financing.

• SMART Target 2: Resources efficiency/waste/circular economy
• MCB’s Marketing department conducts an annual client survey to gather feedback on its services and customer experience. During the reporting year, MCB incorporated several questions to assess clients’ sustainability commitments and interests. The survey covered topics such as sustainable development, climate and circular economy, clients’ sustainable development journey, and their appetite for sustainable finance products. This has enabled MCB to better understand its clients’ sustainability expectations. MCB is now leveraging the survey results and impact analysis to identify clients with whom the bank plans to initiate formal discussions and engagement in the upcoming months.

 

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), 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.

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 MCB, 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://mcbgroup.com/docs/default-source/sustainability/mcb-group-sustainability-report-2024.pdf

Note to MCB: 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.