Corporate Social Responsibility and Sustainability
There is a common thread running through our nearly 180-year history, which is about a strong commitment to society on several levels. 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.
Ever since the time of small savings banks, the Bank has aimed at being a committed and responsible partner to community development. Today, this is reflected in the vision Creating Together and our ambition, Sustainability in Everything We Do.
Our work with sustainability
Our ambition is to significantly enhance our positive impact while reducing our negative impact on people, the environment and society.
Our goal is to be a driving force for sustainable development in our market area and incorporate sustainability in major and minor decisions so that it is an integral part of our business.
Our main focus is the Bank's savings and loan business, but all of the Bank's business areas are included in the sustainability initiative.
Long-term commitment to net-zero emissions
In order to maintain full control over cutting our emissions, the Bank has been certified by EcoLighthouse since 2008. We are always exploring ways to cut our greenhouse gas emissions and climate impact.
We have set a target for how we will cut our emissions in line with the Paris Agreement, a so-called Science Based Target (SBT). The Bank’s long-term ambition is to be climate neutral by 2050, including in relation to its loan portfolios.
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.
