Our commitments
Our commitments consist of international agreements, codes, and frameworks that SEB has formally adopted or publicly endorsed. These commitments guide our decisions, shape how we operate, and reflect our determination to conduct responsible banking, manage risks, and support sustainable development.
International codes and agreements that we support
An agreement between governments to limit global warming to well below 2 degrees, compared to pre-industrial levels. SEB is committed since 2015.
The 17 Sustainable Development Goals (SDGs) for 2030 were agreed on by governments, the private sector and civil society to achieve a sustainable development for our planet. SEB is committed to the goals since 2015.
As a bank, SEB has an important role to play in contributing to reach the UN SDGs. Our main contribution is made by supporting our customers in their transition, to steer financial flows towards sustainable purposes. We help our customers identify environmental, social and governance-related risks and opportunities and enable them to find solutions to their challenges.
An expression by all governments in the United Nations of the rights and freedoms everyone is entitled to. SEB is committed since 2008.
A set of guidelines for states and companies to prevent, address and remedy human rights abuses committed in business operations. SEB is committed since 2013.
Principles and rights at work that are considered fundamental for the world of work and should be prioritised for ratification into national laws. SEB is committed since 2014.
Visit the International Labour Organization for Conventions and Recommendations
Principles to guide companies on actions they can take in the workplace, marketplace and community to respect and support children's rights. SEB is committed since 2014.
The publication Children's Rights and Business Principles (pdf)
Recommendations regarding responsible business conduct, addressed by governments to multinational enterprises operating in or from adhering countries. SEB is committed since 2000.
Visit OECD for the annual report on the OECD Guidelines for Multinational Enterprises
Principles and standards that we have joined or publically endorsed
A framework for corporates to implement universal sustainability principles in the areas of human rights, labour rights, environment and anti-corruption. Adopted by SEB in 2004.
The Principles for Responsible Banking (PRB) is a strategic sustainability framework for banking to enable a positive contribution to society by integrating the Paris Agreement and the UN Sustainable Development Goals in objectives and business processes. SEB signed the principles in 2019.
By signing the UNEP FI PRB, we have committed to aligning our business strategy to international goals such as the UN Sustainable Development Goals. Our key impacts, positive and negative, are related to the exposure we have through our financing and investment activities.
Visit the UN Environment Programme for the Principles for Responsible Banking
International group of asset managers committed to supporting the goal of net zero greenhouse gas emissions by 2050 or sooner. Signed by SEB Funds AB in 2021.
The Principles for Responsible Investments offer a menu of possible actions for incorporating ESG issues into investment practice, in order to better align investors with broader objectives of society. Signed by SEB in 2008.
The Poseidon Principles is a global framework for responsible ship finance. The principles are consistent with the policies and ambitions of the International Maritime Organization, a UN agency responsible for regulating shipping globally. They aim to support the shipping industry's transition towards a greener future. Signed by SEB in 2020.
Responsible Ship Recycling Standards is a joint bank initiative for ensuring environmentally and socially responsible dismantling and recycling of ships. Signed by SEB in 2021.
Equator Principles is a risk management framework, adopted by financial institutions, for determining, assessing and managing environmental and social risk in projects. Primarily intended to provide a minimum standard for due diligence and monitoring. Adopted by SEB in 2007.
Visit the Equator Principles website
Applying the Equator Principles
The Equator Principles is a risk management framework, adopted by international financial institutions, for determining, assessing and managing environmental and social risk in projects. SEB adopted Equator Principles in 2007. During this period, well proven routines and internal guidelines have been established within SEB, routines that are closely monitored by various stakeholders within the bank. SEB is constantly striving to improve the implementation and awareness of the Equator Principles framework.
- When a new potential transaction is recognised, an Equator Principles Reviewing Team ("EPRT") is formed in order to identify whether the transaction falls within the scope of the Equator Principles framework. The team consists of the respective Client Executive, a dedicated person responsible for Equator Principles monitoring from the business side and an advisor from SEB's central sustainability team, Sustainable Banking. The team assesses the potential transaction in a structured and organised manner and requests additional expertise if needed.
- The screening and categorisation (A, B or C) of transactions is carried out by the EPRT. If the EPRT and Sustainable Banking cannot agree on a category, the decision would be escalated to applicable business committee. In practice, such situations are exceptional.
- All transactions that qualify within the Equator Principles scope needs to be presented in a business/credit committee before potential approval. Applications contain a specific section dedicated to Equator Principles, where it is required to specify whether a transaction falls within the framework or not. The validation and approval process is performed by i) appropriate Business Committee and ii) Group Credits. This follows the normal process for all types of transactions. Social and environmental aspects are important parts of the overall approval process.
- After credit approval, covenants are finalised by the transaction team with applicable expertise and advice from Legal Department as well as Sustainable Banking. In this way, processes and routines are in place to ensure that Equator Principles related covenants are correctly implemented and adhered to.
- A client's continuing compliance with applicable standards and Equator Principles requirements is monitored by the transaction team with the expertise advice from Sustainable Banking if necessary. The policies and processes implemented around Equator Principles are integrated in the general environmental and social risk framework within the bank. The monitoring and reporting requirements are recognised on SEB Group level.
Contact us
SEB's sustainability experts have extensive knowledge in areas such as climate and financing solutions, sustainable investments and regulatory development in the European Union.