Questions and answers

Banks are central for allocating society's financial resources and play an important role in the transition to a sustainable society. The investments needed to solve the challenges within areas such as transportation, energy and food are huge and require a universal commitment.

SEB aims to be a leading catalyst in this transition, and we want to accelerate the pace towards a sustainable future for people, businesses and society. We align our strategy with the Paris Agreement and the UN’s Sustainable Development Goals.

Sustainability is a key part of SEB’s business plan. We integrate sustainability in our business activities, including risk management and we are committed to support our customers in their transition and to build a deep understanding of their business in order to enable them to realise their ideas and reach their goals. 

Through innovative and sustainable financing, advice and investment products we enable our customers to make the choices that support their transition to a low-carbon society. International commitments, a sustainability policy framework and a clear governance structure ensure integration of sustainability throughout SEB, as well as our ability to serve our customers. Combined with the commitment and knowledge of our employees we harness our abilities. 

SEB supports the following international agreements:

• The Paris Agreement
• The UN Sustainable Development Goals
• The UN Universal Declaration of Human Rights
• The UN Guiding Principles on Business and Human Rights
• The ILO Core Conventions on Labour Standards
• The Childrens Rights and Business Principles
• The OECD Guidelines for Multinational Enterprises

SEB has joined or publicly endorsed the following principles:
• The UN Global Compact
• UNEP FI Principles for Responsible Banking
• Net-Zero Banking Alliance
• Net Zero Asset Managers initiative
• Principles for Responsible Investments (PRI)
• The Equator Principles
• Task Force on Climate-related Financial Disclosures (TCFD)
• Poseidon Principles
• Responsible Ship Recycling Standards

Climate change is accelerating and has become the greatest and most urgent challenge of our generation. SEB recognises the importance of limiting the average global temperature rise to well below 2°C compared with pre-industrial levels and to strive towards limiting it to 1.5°C – in line with the Paris Agreement. To achieve this, a transition to a low carbon economy is vital. We are committed to contribute by aligning our strategy to the Paris Agreement and support our customers on their transition journeys.

By joining the Net-Zero Banking Alliance we have committed to align green-house gas emissions from our lending and investment portfolios with pathways to net-zero by 2050 or sooner. We engage with our customers in their transition, by promoting them to lower their climate impact and thereby lower our own indirect impact. In addition to helping companies in transition, we focus on supporting new green technology and innovative financial solutions which benefit our societies to reduce the dependence on fossil fuels.

Sustainability transition

SEB's main contribution to the SDGs is by supporting our customers in their transition. By signing the Principles for Responsible Banking, we have also committed to aligning our business strategy and contributing to the SDGs. We have identified and prioritised five of the goals that are clearly linked to our business strategy and sustainability work, and where we have a great opportunity to make an impact. They are related to the bank's strong heritage of creating long-term growth and innovation as well as maintaining responsibility and international outlook. No. 5, 8, 9, 13 and 16, are particularly closely linked to our history and business strategy.

SEB and the UN Sustainable Development Goals

Being committed to the Principles for Responsible Banking is an important way for us to contribute to solving the challenges that the world is facing. We recognise that a common framework is needed in order to increase the pace and facilitate working together.

We report on how we fulfil the Principles for Responsible Banking in the Principles for Responsible Banking, self-assessment template.

In April 2021, SEB joined the UN-initiated Net-Zero Banking Alliance (NZBA) as one of 43 founding members and signatories. Through this initiative we commit to set Paris-aligned targets for the reduction of greenhouse gas emissions related to our lending and investment activities by 2030 and 2050.

We have set net zero aligned 2030 targets for six industry sectors in our credit portfolio. These targets are an important part of our effort towards reaching a net zero credit portfolio by 2050 or sooner.

The NZBA aligned 2030 sector targets

We share expert knowledge to support our customers and have for several years been active in the EU Platform on Sustainable Finance, an advisory expert group to the EU Commission on the development and application of the EU Taxonomy.

The platform brings together world leading sustainability experts from business sectors, finance, NGOs, academia and international institutions. The advice that is developed via the platform is based on scientific evidence, expertise and deep practical experience. An SEB expert co-leads one of the three subgroups together with the European Investment Bank. The task is to develop a monitoring framework for capital flows to sustainable investments.

In relation to the EU Sustainable Finance Disclosure Regulation, our ambition is to have well-informed customers regarding how SEB as a financial institution works to integrate sustainability risk and impact in investment decisions and advice. As an overarching document, SEB has adopted the Policy on the Integration of Sustainability Risk and Impact in Investment Decisions and Investment Advice for SEB Group.

How we work to integrate sustainability risk and impact in investment decisions and advice

We aim to meet our stakeholders' expectations on transparency and choose to disclose ESG ratings based on the monitoring from major external assessors. SEB discloses ESG ratings from the following:

• CDP
• ISS ESG
• MSCI ESG
• Sustainalytics ESG Risk rating
• Fair Finance Guide

SEB's sustainability ratings