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Our working principles

Clear and effective structures for responsibility distribution ensure that SEB's sustainability efforts address relevant issues and that they are implemented across the entire company. Strong ethics, effective governance and adequate reporting underpin our sustainability work.

Sustainability Governance

Board of directors

Is responsible for safeguarding the delivery of our Corporate Sustainability (CS) Strategy. As applicable, matters are dealt with by the board or by any of its established committees: the Risk and Capital Committee; the Remuneration and Human Resource Committee; and the Audit and Compliance Committee.

Group Executive Committee (GEC)

Decides upon the Group targets and SEB's approach to Corporate Sustainability. Approves the CS Policy. Head of Group Communication holds the CS responsibility in the GEC.

The Corporate Sustainability Committee

A sub-committee of the GEC, and an operational steering group responsible for co-ordination, anchoring and implementation of the corporate sustainability strategy and action plan. The committee is chaired by the Head of Group Communication and is responsible for advising the GEC. It has representation from all divisions and key functions.

Group Corporate Sustainability

Is part of Group Communications. Coordinates and drives the overall sustainability agenda within SEB. Is responsible for the implementation of the CS Policy as well as for reporting on its annual progress. The function works closely with business divisions and group functions including Group Human Resources, Group Compliance, Group Procurement, Group IT, and Group Real Estate & Premises. Coordinators are available on country level in Germany, Estonia, Latvia and Lithuania.

Supply Chain Management

Creating a sustainable business

SEB has a strong ambition to contribute to sustainable growth and to make a difference to customers, staff and the society at large. For us, it's of vital importance that we have close relationships and interact with all our stakeholders, also our suppliers.

We are convinced that having suppliers with high performance as regards environmental, social and ethical aspects creates greater values for us as well as for our suppliers. Sustainable business is about being here for the long run.

In our Supplier Code of Conduct we express the importance of having a sustainable supply chain and what we expect from our suppliers. The Supplier Code of Conduct, which is based on SEB's group-wide Code of Business Conduct, is fundamental to our sourcing process and is essential for our assessment of suppliers.

SEB is using EcoVadis sustainability monitoring platform for managing assessment and rating of our suppliers. The EcoVadis platform combines sustainability assessment expertise and data management tools which will allow for our suppliers to demonstrate their sustainability best practices. The target is to increase the average sustainability rating in the supplier community that delivers products and services to SEB.
The result from the monitoring will be used by SEB as an important input in the supplier selection, but also for measuring and developing current suppliers' sustainability performance. For current suppliers, SEB will identify the suppliers scoring the best results and promote the use of these suppliers. Top rated suppliers will be published on SEB's web page for Supply Chain Management. For suppliers that receive low rating, SEB will support the supplier in driving a positive development of the scoring, with the ambition to improve the rating year to year.

Process

The use of EcoVadis sustainability monitoring platform will be part of SEB's sourcing assessment. When SEB sourcing new services and products, suppliers with a yearly spend above SEK 500,000 will be assessed and rated on sustainability performance. Targeted groups of current suppliers to SEB, will also be assessed and rated. In total the supplier assessment will correspond to 80 per cent of SEB's yearly spend.

Suppliers will get an invitation from SEB to fill in the evaluation form on the monitoring platform. Suppliers with no EcoVadis rating, or low scoring suppliers, showing unwillingness of improvement, will in due time be excluded from SEBs sourcing activities.

Code of Business Conduct

SEB's Code of Business Conduct describes SEB’s way of working and guides us in our business relationships. The Code helps employees in their efforts to build long lasting relationships with customers and other stakeholders. All SEB employees are responsible for adhering to the content of this document and for asking for guidance when necessary.

The Code of Conduct covers all employees of the SEB Group – in all markets where SEB operates – and all those who represent companies within the Group, including members of the board, independent contractors and consultants.

Code of Business Conduct

Whistleblowing at SEB

SEB has a whistleblowing process for reporting irregularities. If an employee or other person should discover possible unethical or unlawful behaviour, you should report your observations. Your identity will be kept secret during the subsequent follow-up, enquiries and discussions relating to the matter, provided that we are not obliged by law to disclose it.

Who to contact

Head of Compliance, phone +371 67215446
Head of Internal Audit, phone +371 67779701

You can also raise your issue anonymously on special internet platform, please visit sebgroup.com/whistleblowing

Policies

Our business is governed by a set of policies and instructions. Within the Corporate Sustainability area, we abide by the Corporate Sustainability Policy, the Environmental Policy and the Social Policy among others.

Corporate Sustainability Policy

Environmenal Policy

Human Rights Policy

Sector policies and positions statements

SEB's sector polices and position statements provide guidelines on best practice as well as on the international conventions and standards that we encourage companies to follow. We aim to work with our clients and portfolio companies towards improved business practices.

Position statements

Climate change

Climate change is one of the greatest environmental challenges facing the world today. SEB fully appreciates the risks of climate change and is addressing the risks in our corporate sustainability efforts. SEB has taken several steps to mitigate our direct climate impact.

Download statement

Freshwater

Freshwater is a scarce commodity, but one that is essential for sustaining life. SEB are aware that the increasing global water stress threat destabilised regions and increases our clients' financial risk.

Download statement

Child labour

The United Nations Convention on the Rights of the Child is one of the most widely accepted human rights treaty, still child labour is a problem of immense global proportions. SEB fully appreciates the severity of child labour and reducing it is of high priority.

Download statement

Sector policies

Renewable energy

Energy plays an essential role in the global economy and drives economic growth. As the world is seeking new solutions to mitigate climate change and best utilise scarce resources, the renewable energy sector is becoming a growing component of the energy landscape. SEB seek to facilitate this development based on sustainable principles and governance.

Download the policy

Arms and defence

SEB understands the concerns of many people regarding the role of banks in supporting the defence industry. SEB acknowledges the right of every nation to defend itself, as stated in the United Nations Charter.

Download the policy

Shipping

The shipping industry, through the transportation of raw materials, semi-finished goods and finished goods from producing countries for further processing and to end-user markets, is a major facilitator of global trade and is thereby a fundamental industry for society.

Download the policy

Mining and metals

The mining and metals industry is fundamental for society. The industry in itself underpins economic growth. Mining activities can potentially have a negative impact on the environment and society.

Download the policy

Fossil fuel

The fossil fuel sector is responsible for the provision of power and fuel across the globe, playing an essential role in the world economy. However, fossil fuel activities contribute to climate change.

Download the policy

Forestry

The forestry industry plays a pivotal role in the economy at large, globally as well as regionally. SEB promotes a sustainable forestry industry, works to prevent adverse environmental and social impact and supports good governance among it's clients.

Download the policy

Initiatives guiding our work

SEB has adopted a number of global initiatives and international codes of conduct which guide our business decisions and the overall sustainability work. This also gives us an opportunity to learn, share knowledge and impact international policy development.
We support the following international codes and agreements:

The UN Global Compact

The United Nations Global Compact is a strategic policy initiative for businesses that are committed to aligning their operations and strategies with 10 universally accepted principles in the areas of human rights, labour, environment and anti-corruption. As a signatory to the UN Global Compact, we are required to communicate our progress on a yearly basis. Adopted: 2004
www.unglobalcompact.org

The OECD guidelines for Multinational Enterprises

The OECD Guidelines for Multinational Enterprises are recommendations by governments to multinational enterprises providing voluntary principles and standards for responsible business conduct. The guidelines cover areas such as employment and industrial relations, human rights, environment, information disclosure, competition, taxation, and science and technology. Adopted: 2000
www.oecd.org/corporate

Principles for Responsible Investment (PRI )

The Principles for Responsible Investment (PRI) are a voluntary set of principles developed by the world's largest institutional investors in partnership with the United Nations Environment Programme Finance Initiative (UNEP FI) and the UN Global Compact. The six principles provide a framework to incorporate environmental, social and governance issues into mainstream investment decision making and ownership practices. Signed: 2008
www.unpri.org

UN Environment Programme Finance Initiative

The United Nations Environment Programme Finance Initiative (UNEP FI) is a global partnership between the United Nations Environment Programme (UNEP) and the financial sector. UNEP FI works with financial institutions that are signatories to the UNEP FI Statements and other organisations to develop and promote linkages between the environment, sustainability and financial performance. Signed: 1995
www.unepfi.org

The Equator Principles

The Equator Principles (EP) are a voluntary set of standards for determining, assessing and managing social and environmental risk in project financing. They were developed by private sector banks based on the International Finance Corporation's environmental and social standards. We have internal policies and processes that are consistent with the Equator Principles and report our EP transactions publicly. Adopted: 2007
www.equator-principles.com

Carbon Disclosure Project

The Carbon Disclosure Project (CDP) is the world's largest survey of large corporations' ambitions on climate change and environmental protection. Thousands of organisations in some 60 countries around the world measure and disclose their greenhouse gas emissions and climate change strategies through CDP. CDP acts on behalf of more than 700 institutional investors and some 50 purchasing organisations of large global corporations. Adopted: 2008
www.cdp.net

ICC Business Charter on Sustainable Development

The International Chamber of Commerce (ICC) is a global business organisation championing the global economy as a force for economic growth, job creation and prosperity. Adopted: 1995
www.iccwbo.org

 

 

Annual reporting

SEB reports annual progress on a number of initiatives and commitments. Our ambition is to keep an open and transparent dialogue with all our stakeholders. We consider our annual Corporate Sustainability Report the most important source of in-depth information for our stakeholders.

Please contact us if you have any questions or need more information.

2018

Sustainability report

CS Fact Book

2017

Sustainability report

CS Fact Book

2016

Sustainability report

CS Fact Book

2015

Sustainability report

CS Fact Book

2014

Sustainability report

2013

Sustainability report
CS Fact Book
SEB Equator Principles reporting
UN Global Compact Communication on progress

2012

Sustainability report
CS Fact Book
SEB Equator Principles reporting
UN Global Compact Communication on progress

2011

Sustainability report
CS Fact Book

Sustainability contacts

Contacts

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