SpareBank 1 SMN aims to contribute to society's value creation through responsible banking operations that instil public confidence in the bank. We follow the UN's sustainability goals and we have joined the UN's principles for responsible banking.
As one of five Norwegian banks, we have joined the UN's principles for responsible banking. The purpose of the new principles is to contribute to the financial sector developing in line with the UN’s sustainable goals and the Paris agreement.
Part of our responsibility as an eco-lighthouse certified business is that we are concious our environmental responsibility and implement measures internally. In 2019, 25 of our offices were certified and our goal is to have all offices certified by end 2020.
Since 2017 we have supported the UN's sustainability work by supporting UN Global Compact. We have committed to working continously to improve within the areas of human right's, worker's rights, the environment and anti-corruption.
Our sustainability strategy is built on the bank's values, with responsible being the most important guideline. Based on current materiality assessments, we have prioritised five of the seventeen UN sustainability goals that will be particular focus areas of our work.
Inspired by sustainability goal number 17, partnerships for the goals, we invite cooperations and experience sharing with both partners and competitors.
Main areas of our sustainability effort
Equal status is a human right. It is about giving both genders equal rights, the opportunity to decide over their own lives and abolishing discriminatory practices. We strive to have a good gender balance, equal career opportunities and equal pay. A range of development programmes and competence-raising initiatives will contribute to this. Our employee's right to join a trade union is important and a substantial proportion of employees are trade union members.
FINANCIAL SERVICES FOR ALL
We believe that integrating sustainability into the bank's business lines to be a crucial element in long-term economic profitability. We are working to raise awareness of the connection between sustainability and responsible credit practises, both among customers and employees. As a social actor we will contribute to responsible lending and sustainable consumption and finances for our customers. We offer both socially sustainable banking services and green loans and fund products.
STIMULATING INNOVATION AND DEVELOPMENT
We will contribute to making it easier both for the local community and for business and industry to successfully transition to a low emission society. Innovation and cooperation are important factors to ensure that responsible growth. We will contribute to competence-based jobs and regional value creation through our distribution of social dividend, sponsorship, partnership projects and a general focus on innovation.
Climate change is the greatest challenge of our time - and our greatest opportunity. Our contribution is to share insight and experience, show the way and lay the basis for choices that are aligned with the future. Some of the steps we are taking to do this is to offer green bonds, focus on climate risk in our credit processes and focus on greenhouse gas emissions in relation to purchasing, our office structure and travel.
PREVENTING FINANCIAL CRIME
Attempts at money laundering and fraud directed at our customers are increasing. We work continously to expose and combat financial crime. Knowing our customers and the origin of funds that pass through our system is key. In 2019 we conducted a torough control of our customer portfolio. We have a zero tolerance policy on corruption and bribery.
Our sustainability report
We adhere to UN's principles for responsiple banking and our sustanability profile is rootet in our values. Responsible is the most important guideline.
In our sustainability report you can read more about how we are working towards UN's sustainability goals in general and particularly those goals we have identified aas being main focus areas in our work.