23 Sep 2019 11:42

SEB present at the launch of Principles for Responsible Banking

SEB’s President and CEO Johan Torgeby was present at the UN on Sunday evening when the Principles for Responsible Banking were launched. "As a bank, we have great opportunities to influence the green transition, but we will be even stronger together with others," he says.

SEB is one of 130 banks from all over the world, one third of the entire banking sector globally, which is supporting the principles.

By signing, SEB undertakes to continue to adapt its business strategy to align with and support the UN's Sustainable Development Goals and the Paris Agreement.

"Global challenges need international collaboration. The fact that we support the UN Principles for responsible banking is in line with our business strategy. We have worked with sustainability for many years and are in the midst of a transition to gradually become even more sustainable, both through the funds we offer and in how we support our large corporate customers in financing their transition to more sustainable business models," says Johan Torgeby.

Torgeby emphasised the importance of a common strategic framework.

"We are responding to the growing demand for sustainable services, including green and blue bonds, green mortgages, microfinance funds, and recently we launched a fund that invests in companies that help achieve the UN's Sustainability Development Goals. So, we have already come a part of the way, but if we are to contribute to the transformation that the world is facing, a common framework is needed as well as increasing the pace and working together", he says.

The Principles for Responsible Banking include, among other things, aligning the business strategy to the UN Sustainable Development Goals and the Paris Agreement, working with customers to encourage sustainable practices, and setting goals and reporting results for the areas where the bank has the greatest impact.

"Sustainability is an important part of SEB's business plan", says Sara Öhrvall, Head of Digital, Communication and Sustainability.

"In addition to continuing to develop sustainable products and services, we focus on supporting our customers in their transformation, to classify and gradually transform our loan and investment portfolios, as well as integrating sustainability KPI's into long-term incentive programs for senior executives", says Sara Öhrvall.

Read about SEB's sustainability work

Read about The Principles for Responsible Banking