This step means that SEB will incorporate environmental, social, and corporate governance (ESG) considerations into our active ownership policies and practices. SEB will also exercise our influence on listed companies to encourage sustainable practices.
Tove Bångstad, Head of Institutional Clients at SEB, says:
"This step is a result of SEB's own ambition to raise our standards in the area of responsible investments as well as of increasing demands from institutional clients".
Launched in April 2006, PRI are a set of global best-practices for responsible investments. Institutional investors from all regions of the world, together representing more than eight trillion dollars, have adapted the principles. PRI has become the global standard for responsible investments.
SEB has previously also adopted the Equator Principles on project financing, an international standard for incorporating environmental and social impacts in assessment of project financing.
SEB will be reporting on its activities considering PRI in its annual Corporate Responsibility Report.
For more information on the Principles for Responsible Investments, please see http:// www.unpri.org
For more SEB's Corporate Responsibility Report and more information on SEB's CR activities, please see http://www.sebgroup.com
SEB is a North European financial group serving some 400,000 corporate customers and institutions and five million private individuals. SEB offers universal banking services in Sweden, Germany and the Baltic countries - Estonia, Latvia and Lithuania. It also has local presence in the other Nordic countries, Poland, Ukraine and Russia and a global presence through its international network in another ten countries. On 30 June 2008, the Group's total assets amounted to SEK 2,304bn (EUR 244 bn) while its assets under management totalled SEK 1,295bn (EUR 137 bn). The Group has about 22,000 employees. Read more about SEB at www.sebgroup.com
For further information, please contact:
Tove Bångstad, Head of Institutional Clients, +46 70 274 38 41
Odd Eiken, Head of Marketing & Communications, +46 8 763 87 30