SEB has a strong ambition to contribute to sustainable growth. For us, it's of vital importance that we have close relationships and interact with all our stakeholders, also our suppliers.
We are convinced that having suppliers with high performance as regards environmental, social and ethical aspects creates greater values for us as well as for our suppliers. Sustainable business is about being here for the long run.
In our Supplier Code of Conduct we express the importance of having a sustainable supply chain and what we expect from our suppliers.
Sustainability risk assessment model
To identify the sustainability risks among our suppliers, SEB starts with an initial assessment. The sustainability risk level for each supplier is determined by country, industry sector and business criticality (SEB spend with supplier, outsourcing, etcetera).
The risk levels for specific countries and industry sector are provided to SEB by an external partner with extensive expertise on the subject. Suppliers identified in the initial supplier risk assessment as having a potential increased risk level, will be further scrutinized in an enhanced assessment through EcoVadis.
EcoVadis is a sustainability monitoring platform for managing assessment and rating of our suppliers. The EcoVadis platform combines sustainability assessment expertise and data management tools which will allow for our suppliers to demonstrate their sustainability best practices.
The result from the monitoring will be used by SEB as an important input in the supplier selection, but also for measuring and developing current suppliers' sustainability performance.