Our policies

Our business is governed by a set of policies and instructions. Within the sustainability area, we abide by the overarching Sustainability Policy, thematic policies, sector polices and other group policies.

These documents guide us in our work and express our view on specific key issues and industry sectors that are considered critical from an environmental and social perspective. They are updated annually.

Sustainability Policy

This policy defines the framework for sustainability in SEB and provides a governing platform for SEB's sustainability work for all business decisions, including investment and credit decisions.

Sustainability Policy (pdf)

Thematic policies

Environmental Policy

SEB's Environmental Policy addresses the impacts that we or our business partners may have on living and non-living natural systems, including ecosystems, land, air and water. In order to address such impacts, SEB has developed this Environmental Policy to describe SEB's management of Climate, Water and Nature.

Environmental Policy on Climate, Nature and Water (pdf)

Social and Human Rights Policy

As a bank, SEB has the ability to contribute to human rights, for example through financing social infrastructure and engage in responsible lending. SEB acknowledges the social and human rights challenges that the world is facing and the adverse impact that businesses can have. In order to address such impacts, we have developed this Social and Human Rights Policy to describe our management of these areas.

Social and Human Rights Policy (pdf)

Sector policies

SEB's sector policies provide guidelines on industry good practice that SEB expects companies to follow as well as SEB restrictions on financing and investing in certain activities. The sector policies are part of the overall Sustainability policy framework described in the Sustainability Policy (see above).

Agriculture, Fishing, Aquaculture and Animal Welfare

The Agricultural, Aquaculture and Fishing sectors are essential parts of many economies. The shift to sustainable agriculture, aquaculture and fishing practices is a necessity to secure global food supply, decrease carbon emissions and reduce negative impacts on the environment and societies.

Policy on Agriculture, Fishing, Aquaculture and Animal Welfare (pdf)

Arms and Defence

The Arms and Defence sector is complex and challenging. SEB recognises the controversies embedded within the Arms and Defence sector but also acknowledges the right of every nation to defend itself, as stated in the United Nations Charter.

Policy on Arms and Defence (pdf)

Forestry, Pulp & Paper and Timber

Forests are vital for our society and planet and are inseparably linked to our global economy. Besides providing resources for production processes and industries, habitats for biodiversity and jobs for society, forests are also the world's second largest carbon storage. If managed responsibly, forests are a renewable resource greatly contributing to climate change mitigation.

Policy on Forestry, Pulp & Paper and Timber (pdf)

Fossil Fuels

Fossil fuels are a major part of global energy systems today and the largest driver of climate change, a significant contributor to local pollution and have direct and indirect impacts on nature. SEB recognises the importance of reduction in demand for fossil fuels, in combination with rapid growth of sustainable and affordable alternatives.
In SEB’s Policy on Fossil Fuels we describe our approach to coal, oil & gas and peat, and how we engage with companies in the fossil fuel sector to support a resilient and orderly transition to a low carbon economy while safeguarding energy security in our home markets.

SEB’s Policy on Fossil Fuels is updated annually and is adopted by the Board of Directors.

Learn more about our approach to fossil fuels

Policy on Fossil Fuels (pdf)

Gambling

The Gambling sector is considered controversial from a sustainability perspective due to concerns related to its societal impact. Gambling in excess, aggressively marketed and potentially offered to financially weaker parties or non-adults is a non-sustainable business model that raises significant societal concerns, human rights related issues and reputational risk.

Policy on Gambling (pdf)

Mining and Metals

The Mining and metals industry plays a fundamental role in the development of our economy and society. Many metals are key inputs for the economic transformation towards a low carbon society. However, the industry can also have some potentially significant negative environmental and human rights impacts, if not addressed correctly. This policy aims to ensure that lending and investment decisions contribute towards fulfilling SEB's overall sustainability ambitions.

Policy on Mining and Metals (pdf)

Real Estate and Construction

The real estate and construction sectors are important industries in terms of providing residential and commercial properties. Due to the energy consumption, material use and waste, the sectors can play a major role in the transformation towards a low carbon and circular economy.

Policy on Real Estate and Construction (pdf)

Renewable Energy Generation and Electricity Transmission & Distribution

Renewable energy generation and electricity transmission & distribution is an important prerequisite for carbon neutral economic growth. However, if not handled responsibly, the development, production and distribution of renewable energy can have significant negative impacts on the environment and society. 

Policy on Renewable Energy (pdf)

Shipping

Shipping is considered to be the most carbon efficient mean of long-distance transportation in comparison to land-based road transportation and aviation. However, further decarbonization of this industry is a necessary step to decouple the strong link between growing shipping emission rates and global trade, while supporting the objectives of the Paris Agreement.

Policy on Shipping (pdf)

Tobacco and Tobacco-Free Nicotine Products

Tobacco and Tobacco-Free Nicotine Products can have significant negative health impacts. Marketing and distribution of such products is also legally restricted in various ways not least towards young people. SEB Group exercises a restrictive approach to Tobacco and Tobacco-Free Nicotine Products.

Policy on Tobacco (pdf)

Transportation

Transportation and mobility are major components of sustainable development by enhancing economic growth and improving accessibility. However, in order to achieve the target of the Paris Agreement, the entire sector needs to undergo an orderly transformation towards decarbonization.

Policy on Transportation (pdf)

Transparency statement

Modern Slavery Act 

The UK Modern Slavery Act from 2015 requires that companies with operations in the UK publish a statement that describes the major steps taken to ensure that slavery and human trafficking do not occur in any part of its business or in its supply chains.

Modern Slavery Act Transparency Statement (pdf)

Other policies and disclosures

Code of Conduct

The Code of Conduct describes SEB's way of working and guides us in our business relationships. The Code helps employees in their efforts to build long lasting relationships with customers and other stakeholders.

Code of conduct (pdf) 

Code of Conduct for suppliers

In our Supplier Code of Conduct we express the importance of having a sustainable supply chain and what we expect from our suppliers.

Code of Conduct for Suppliers (pdf)

Anti-Corruption Policy

This policy defines the framework for anti-corruption in the SEB Group and establishes principles for the analysis of risk of corruption and measures to prevent corruption.

Anti-Corruption Policy (pdf) 

Customer Data Ethics Policy

This policy describes the framework for responsible handling of customer data, data-driven innovation and the use of AI. The policy consists of eight principles for responsible business development and innovation that will protect customers and safeguard confidence in the bank.

Customer Data Ethics Policy (pdf)

Inclusion and Diversity policy

We are convinced that inclusion and diversity are crucial for our long term prosperity, innovation and growth and for our ability to deliver world class service to our customers and society at large. The policy highlights our ambition and commitments, and covers SEB's leaders and employees.

Policy on Inclusion and Diversity (pdf)

Policy för inkludering och mångfald (in Swedish) (pdf)

Tax Policy

SEB plays a significant role in society, contributing to economic growth and prosperity both as an employer and through providing customers with products and services. In all of this, the subject of taxes and tax governance is relevant and important.

Tax Policy (pdf)

Disclosures on the integration of sustainability risk and consideration of adverse impact on sustainability factors in investment decisions and investment advice for SEB AB

SEB works actively to integrate sustainability risks and consider adverse impact on sustainability factors in investment decisions and advice. We here describe how sustainability risks and adverse impact on sustainability factors are addressed in relation to investment decisions and investment and insurance advice at SEB AB.

Disclosures on the integration of sustainability risk and consideration of adverse impact at SEB AB (pdf)