Swedbank Archives - SustainCase - Sustainability Magazine Insights on how you can protect the environment, maintain and increase the value of your company, through a structured CSR/Sustainability process with the use of the GRI Standards. Learn how Today's Best-Run Companies are achieving Economic, Social, and Environmental Success - and How You Can Too... Wed, 23 Apr 2025 05:50:57 +0000 en-US hourly 1 https://wordpress.org/?v=6.9.4 Case study: How Swedbank works with its clients and customers to encourage sustainable practices https://sustaincase.com/case-study-how-swedbank-works-with-clients-and-customers-to-encourage-sustainable-practices/ Wed, 23 Apr 2025 05:50:14 +0000 https://sustaincase.com/?p=20630 Serving a diverse clientele, boasting approximately seven million private customers and 550,000 corporate clients, Swedbank is among the top banks in its four home markets: Sweden, Estonia, Latvia, and Lithuania. The bank primarily caters to private individuals, corporate entities, tenant owner associations, the public sector, and financial institutions. This case study is based on the 2023 PRB Reporting and Self-Assessment Template by Swedbank, 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 […]

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]]> Serving a diverse clientele, boasting approximately seven million private customers and 550,000 corporate clients, Swedbank is among the top banks in its four home markets: Sweden, Estonia, Latvia, and Lithuania. The bank primarily caters to private individuals, corporate entities, tenant owner associations, the public sector, and financial institutions. Swedbank 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 Swedbank, 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.

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Which Principles for Responsible Banking have been addressed?

The Principles for Responsible Banking addressed in this case are:

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.

Swedbank engages in an ongoing dialogue with various groups within society. Its primary stakeholders include customers, employees, owners, and society as a whole. Topics that have been addressed and on which the bank partnered with stakeholders during the year are documented in Swedbank’s Annual and Sustainability Report.

How did Swedbank work with its clients and customers to encourage sustainable practices and enable sustainable economic activities?

In its 2023 PRB Reporting and Self-Assessment Template Swedbank reports that it works with its clients and customers to encourage sustainable practices and enable sustainable economic activities as follows:

Throughout the year, Swedbank focused on enhancing and expanding its sustainability-oriented products and services to support customers in their pursuit of sustainability. The bank’s overarching sustainability framework is also implemented with customers through policies established by the Board, guidance and position statements issued by the CEO, and sector-specific guidelines.

In 2022, Swedbank further refined its ESG analysis for large corporations, which is a key component of the lending process. Additionally, the bank’s sector guidelines are utilized to assess the sustainability risks faced by corporate clients.

 

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 Swedbank, 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://online.swedbank.se/ConditionsEarchive/download?bankid=1111&id=WEBDOC-PRODE175414520

Note to Swedbank: 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.

The post Case study: How Swedbank works with its clients and customers to encourage sustainable practices appeared first on SustainCase - Sustainability Magazine.

]]> Case study: How Swedbank creates economic value for its stakeholders https://sustaincase.com/case-study-how-swedbank-creates-economic-value-for-its-stakeholders/ Wed, 12 Apr 2023 05:58:30 +0000 https://sustaincase.com/?p=17645 With over seven million private customers and 620 000 corporate customers, Swedbank is the leading bank for the many households and businesses in its four home markets: Sweden, Estonia, Latvia and Lithuania. and therefore aims for a competitive return on invested capital, market-leading cost efficiency, low risk and an excellent customer experience. This case study is based on the 2021 Annual and Sustainability Report by Swedbank, prepared in accordance with the GRI Standards, that can be found at this link. Through all case studies we aim to demonstrate what CSR/ ESG/ sustainability reporting done responsibly means. Essentially, it means: a) identifying […]

The post Case study: How Swedbank creates economic value for its stakeholders appeared first on SustainCase - Sustainability Magazine.

]]> With over seven million private customers and 620 000 corporate customers, Swedbank is the leading bank for the many households and businesses in its four home markets: Sweden, Estonia, Latvia and Lithuania. Swedbank is firmly focused on sustainable value creation for its stakeholders  Tweet This! and therefore aims for a competitive return on invested capital, market-leading cost efficiency, low risk and an excellent customer experience.

This case study is based on the 2021 Annual and Sustainability Report by Swedbank, prepared in accordance with the GRI Standards, that can be found at this link. Through all case studies we aim to demonstrate what CSR/ 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.

Abstract

Creating long-term value for all its stakeholders, empowering people and businesses to create a better future, is a top priority for Swedbank. In order to create economic value for its stakeholders Swedbank took action to:

  • create economic value for employees
  • create economic value for suppliers
  • create economic value for the government

What are the material issues the company has identified?

In its 2021 Annual and Sustainability Report Swedbank identified a range of material issues, such as responsible governance, secure and stable IT systems, business ethics, combatting financial crime. Among these, creating economic value for its stakeholders stands out as a key material issue for Swedbank.

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 Swedbank engages with:

Stakeholder Group
Authorities
Municipalities and county councils
Regulators
Pension managers
Asset managers
Analysts
Journalists
Unions
Students
Foundations
Not-for-profit organisations
Stakeholder organisations
Trade organisations
Associations
Primary and secondary schools
Colleges and universities
Suppliers
Subsidiaries
Competitors
Ratings agencies and indexes
Auditors

How stakeholder engagement was made to identify material issues

To identify and prioritise material topics, Swedbank initially conducted a survey of around 120 key employees from the various business areas and Group functions who also had a good understanding of the bank’s stakeholders. Based on the results of this internal survey, a second survey was sent to external stakeholders. Responses were received from around 900 private customers, 400 corporate customers, 500 employees, 17 social actors (e.g. authorities and interest groups) and eight investors.

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

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

  • Creating economic value for employees
  • In 2021, Swedbank paid 8 356 million SEK for employee salaries and fees and 3 787 million SEK in social insurance costs and pensions.
  • Creating economic value for suppliers
  • In 2021, Swedbank paid 9 593 million SEK to suppliers.
  • Creating economic value for the government
  • In 2021, Swedbank paid 4 645 million SEK in tax.

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:

 

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

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  • 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 Swedbank, 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://internetbank.swedbank.se/ConditionsEarchive/download?bankid=1111&id=WEBDOC-PRODE109370778

Note to Swedbank: 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.

The post Case study: How Swedbank creates economic value for its stakeholders appeared first on SustainCase - Sustainability Magazine.

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