Sustainability governance

As a bank we have a responsibility for how we conduct our business, what we finance and what we invest in. With a clear governance structure, internal policies and in line with our commitments we ensure that our efforts are implemented throughout the Group.

SEB's sustainability governance structure

SEB’s supervisory body, the Board of Directors and its committees, has responsibility for SEB’s organisation, administration, and operations, including sustainability matters. The Board has established committees to handle certain defined issues and to prepare such issues for decision by the Board.

The Board committees are:

• Risk and Capital Committee
• Audit and Compliance Committee
• Remuneration and Human Resources Committee.

The President and CEO is responsible for the day-to-day management of the activities of SEB, the execution of the sustainability strategy, and the implementation of the governance structure set by the Board. When implementing the sustainability strategy and throughout the decision-making processes, consideration is given to sustainability impacts, risks, opportunities, and the associated trade-offs.

The Group Executive Sustainability Committee (GESC), with the CEO as chair and Chief of Staff as vice chair, manages the execution of the sustainability strategy in SEB. 

The Group Risk Committee (GRC), with the CEO as chair and the Chief Risk Officer (CRO) as vice chair, addresses all types of risks in SEB, including sustainability risks, and evaluates portfolios, products, and ­customers from a risk perspective. 

Senior Leadership Committee (SLC) has as its purpose to give the CEO a forum to discuss business matters in a broader context, and share information and knowledge among senior managers in the SEB Group. Sustainability-related matters are on SLC’s agenda when relevant.

SEB External Sustainability Advisory Board (SESAB) provides SEB with strategic intelligence in matters concerning sustainability from outside the banking industry, based on academic research and, when desired, complemented with industrial experience. 

Sustainable Banking is a function responsible for driving and coordinating SEB's overall sustainability agenda in areas that do not have their own expert organisation. This work is carried out in close collaboration with business divisions and group staff and support functions. 

Assessment of new products

The Sustainable Product and Transaction Committees (SPTC) are administrated by Sustainable Banking, that decides on the right for business areas and units in the SEB Group to use any sustainability reference in the marketing, distribution or labelling of products, services or individual transactions. This includes, for example, references to ESG (Environmental, Social, Government), the UN Sustainable Development Goals (SDGs), and EU Taxonomy.

Procedures and controls

Each Head of Division, Head of Group Support function and Head of Group Staff function is responsible for ensuring that sustainability-related governance structures, including procedures and controls, are in line with SEB's business plan as well as sustainability policies and instructions set by the Board, the CEO and GESC.

Each division shall have a committee to assess any potential deviations from the SEB Group’s sustainability policies and instructions in relation to new customers or transactional proposals through a Sustainability Business Risk Committee (SBRC) or equivalent.