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

• • • 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 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

Note to SBAB: 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.

What are the material issues the company has identified?  

In its 2021 Annual Report SBAB identified a range of material issues, such as business ethics and transparency, secure IT systems and integrity, product development and innovation, community engagement, financial stability. Among these, creating economic value for its stakeholders stands out as a key material issue for SBAB.

Stakeholder engagement in accordance with the GRI Standards              

The Global Reporting Initiative (GRI) defines the Principle of Stakeholder Inclusiveness when identifying material issues (or a company’s most important impacts) as follows:

“The reporting organization shall identify its stakeholders, and explain how it has responded to their reasonable expectations and interests.”

Stakeholders must be consulted in the process of identifying a company’s most important impacts and their reasonable expectations and interests must be taken into account. This is an important cornerstone for CSR / sustainability reporting done responsibly.

Key stakeholder groups SBAB engages with:

Stakeholder Group	Method of engagement
Customers	·      The internet (www.sbab.se) ·      Telephone ·      Customer surveys (SKI, brand surveys, customer panels, focus groups, etc.) ·      Social media ·      Customer and support forum ·      Blogs ·      Personal meetings ·      Customer meetings ·      Seminars and conferences ·      The AGM ·      Marketing communication
Employees	·      Performance evaluations ·      Meetings ·      Employee surveys ·      Workplace dialogues with trade unions ·      Monthly and departmental meetings ·      The intranet ·      AGMs ·      CEO blogs
Owner & investors	Owner: ·      Ownership policy ·      Owner instructions ·      Continuous ministerial contacts ·      Board representation ·      AGMs ·      Network meetings Investors: ·      Personal meetings ·      Group presentations ·      Financial statements ·      www.sbab.se
The public	·      Personal meetings ·      Network meetings ·      Seminars and conferences ·      Media ·      Blogs ·      Social media ·      AGMs ·      Marketing communication

How stakeholder engagement was made to identify material issues

To identify and prioritise material topics SBAB engaged with its stakeholders through interviews and surveys.

What actions were taken by SBAB to create economic value for its stakeholders?

In its 2021 Annual Report SBAB reports that it took the following actions for creating economic value for its stakeholders:

• Creating economic value for employees
• In 2021, SBAB paid SEK 786,024 thousand for employee salaries and remuneration.

• Creating economic value for the state
• In 2021, SBAB paid SEK 560,094 thousand in tax. In addition, SBAB paid SEK 221,328 thousand in fee for national deposit guarantee and resolution fee, which help maintain financial stability in society.

• Creating economic value for lenders
• In 2021, SBAB paid SEK 1,098,385 thousand in interest.

• Creating economic value for the public
• In 2021, SBAB paid SEK 604,351 thousand in interest to the public (deposits).

Which GRI Standards and corresponding Sustainable Development Goals (SDGs) have been addressed?

The GRI Standard addressed in this case is: Disclosure 201-1 Direct economic value generated and distributed

Disclosure 201-1 Direct economic value generated and distributed corresponds to:

• Sustainable Development Goal (SDG) 8: Decent Work and Economic Growth
• Targets: 8.1, 8.2
• Sustainable Development Goal (SDG) 9: Industry, Innovation and Infrastructure
• Targets: 9.1, 9.4, 9.5

 

78% of the world’s 250 largest companies report in accordance with the GRI Standards

SustainCase was primarily created to demonstrate, through case studies, the importance of dealing with a company’s most important impacts in a structured way, with use of the GRI Standards. To show how today’s best-run companies are achieving economic, social and environmental success – and how you can too.

Research by well-recognised institutions is clearly proving that responsible companies can look to the future with optimism.

7 GRI sustainability disclosures get you started

Any size business can start taking sustainability action

GRI, ISEP, CPD Certified Sustainability courses (2-5 days): Live Online or Classroom  (venue: London School of Economics)

• Exclusive FBRH template to begin reporting from day one
• Identify your most important impacts on the Environment, Economy and People
• Formulate in group exercises your plan for action. Begin taking solid, focused, all-round sustainability action ASAP. 
• Benchmarking methodology to set you on a path of continuous improvement

See upcoming training dates.

 

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/18.1a43fdec17fb5d81a2b3c/1648115953842/SBAB_AR_2021_ENG_FINAL_20220325.pdf

Note to SBAB: 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.