27 Aug 2019 09:11

SEB signs UN Principles for Responsible Banking

SEB has committed to complying with the UN initiative Principles for Responsible Banking. This means that the bank undertakes to continuously strengthen its positive impact on society in accordance with the UN Development Goals.

“We welcome this initiative, which provides a common roadmap for how we can contribute to a sustainable development. Climate change is a global challenge that needs international collaboration. Here we all have an important role to play – politicians, businesses and people at large. By committing to the UNEP FI Principles for Responsible Banking we take yet another step to strengthen our sustainability work and contribute to the international climate transition. This is favourable both for us, our customers and society," says Johan Torgeby, President and CEO of SEB.

The new global Principles for Responsible Banking have been developed by the United Nations Environment Programme’s Finance Initiative (UNEP FI), a collaboration between the UN and the global financial sector. By committing to the principles, SEB is contributing to the establishment of an industry-wide framework aiming to increase the banks’ positive impact on environment and society.

“Sustainability is an integrated part of SEB’s business since many years and we have an ambition to act as a role model within the financial industry. Sustainability is one of the key strategic investment areas in our new business plan,” says Sara Öhrvall, Head of Digital, Communication and Sustainability.

The signing of the principles means that SEB is committed to continue adapting its business strategy to align and contribute to the UN Development Goals and the Paris Climate Agreement.

SEB also undertakes to measure and follow up that the bank is continuously increasing its positive impact, while reducing the negative impact and managing the risks to environment and society resulting from the bank’s activities, products and services. This is in line with activities already initiated in terms of classifying the bank's investment and loan portfolio.

Read more at UNEP FI's web page