Corporate Social Responsibility and Sustainability
The Bank has a long tradition of returning part of its profits back to the local community. We are still very concerned about how our business affects people, the environment and the community around us. Therefore, social responsibility is something we take into account in everything we do.
SpareBank 1 Østlandet has joined the Net-Zero Banking Alliance
Together with 42 other banks worldwide, we have joined the Net-Zero Banking Alliance of the United Nations Environment Programme Finance Initiative. In line with the Paris Agreement, we commit ourselves to reduce the CO2 balance sheet of our entire lending and investment portfolio to net zero by 2050 at the latest.
SpareBank 1 Østlandet’s Green Bond Framework is an extension of the Bank’s sustainability strategy and general guidelines for corporate social responsibility and sustainability. The framework is in line with the ICMA Green Bond Principles.
Sustainability Impact Analysis - Principles for Responsible Banking
The United Nations Environment Programme Finance Initiative (UNEP FI) launched the Principles for Responsible Banking in 2019. SpareBank 1 Østlandet was the first Norwegian bank to sign up to the principles.
One of the first steps the Bank took was to conduct an impact analysis. The results of the analysis will be used in the Bank’s future sustainability work and changes to the Bank’s focus areas and targets are being assessed.
First Norwegian bank to sign the Principles for Responsible Banking
On 22 September 2019, SpareBank 1 Østlandet became one of the Founding Signatories of the Principles for Responsible Banking, committing to strategically align its business with the Sustainable Development Goals and the Paris Agreement on Climate Change. By signing the principles, SpareBank 1 Østlandet joins a coalition of 130 banks worldwide in committing to taking on a crucial role in helping to achieve a sustainable future.
Sustainable Edge: Climate risk assessment for companies
The financial sector is requesting more practical information on climate risk. SpareBank 1 Østlandet takes part in the project ‘Sustainable Edge,’ which is developing a tool for investors and creditors to understand how well-aligned a company’s business activities are with the transition to a low carbon economy.