Environment and procurement

In-house environment and responsible procurement

It is particularly important for us as a regional bank to assume a responsibility for sustainable investment and lending. We are duty bound to do all we can to support the UN’s sustainability goals, and we are concerned that companies we invest in or lend money to make sustainable choices. This is described in a separate chapter.

SpareBank 1 SMN’s environment management system is certified under the ‘Environmental Lighthouse’ scheme, Norway’s most used environmental certification scheme. The bank reports its energy consumption and climate emissions each spring to the Environmental Lighthouse Foundation (Stiftelsen Miljøfyrtårn). Certification entails systematic, targeted and continuous improvement in the areas of work environment, procurements, waste, transportation, energy, emissions and aesthetics. The bank thus complies with the sustainable precautionary principle. (GRI 102-11) The bank utilises a modern environmental reporting system with frequent and consistent logging of key figures. Health, environment and safety indicators are assessed against the bank’s targets.

See SpareBank 1 SMN's Miljøfyrtårn certificate and Recognition of Miljøfyrtårn-stiftelsen from EU.

Consumption and climate

SpareBank 1 SMN works continuously to reduce its consumption of energy, paper, other resources and resource demanding travel. All technological equipment is handled as special waste and is delivered to an approved e-waste disposal facility. The bank strives throughout to ensure the right procurement of technological equipment and to that end includes energy and environmental requirements as specific assessment criteria. This is set out in a procurement guide and in our Environmental Lighthouse action plans.

All energy purchased by the bank that goes to heating and consumption for office operation is based on renewable energy sources such as remote heating and hydropower. Oil-fired heating and use of fossil energy sources has been entirely phased out.

The head office in Trondheim and the branch in Steinkjer, which are low-energy buildings, have contributed to lower consumption across the branch network. Improved energy monitoring will be established at all branches in 2019, putting the focus on further reducing consumption.

As from 2018 the bank will present a separate climate account (pdf).

SpareBank 1 SMN’s total energy consumption for 2018 was 5.9 GWh compared with 5.7 GWh in 2017. The increase of 300,000 kWh is down to seasonal variation and increased consumption at locations possibly as a result of technical systems that are due for replacement by more modern, energy-efficient systems. The location-based emission factor in 2018 was 0.018 kg CO2 per kWh. SpareBank 1 SMN’s own climate emissions arise essentially from energy consumption, transport and waste. Other climate emissions are negligible in comparison.

With emission factors from the UK’s Department for Environment, Food and Rural Affairs (Defra), and the Norwegian Water Resources and Energy Directorate’s (NVE) location-based power mix, SpareBank 1 SMN has an overall climate emission of 631 tonnes of CO2 equivalents.

Responsible procurements

The bank’s procurement policy requires all purchase contracts to include documentation of corporate social responsibility. Suppliers must abide by local, national and international laws, rules and principles (including provisions on matters such as pay, working time, health, environment, safety and anti-corruption). In the case of calls for tender and RFQs, SpareBank 1 SMN requires offerors to provide documentation of approved environmental certification.

Suppliers are subject to a notification obligation and SpareBank 1 SMN can carry out inspections and audits. Suppliers undertake to act in an ethically correct manner in their production and contracts for deliveries to SpareBank 1 SMN. The same requirements apply to a supplier’s sub-suppliers and any partners connected to a contract to supply SpareBank 1 SMN. Any breach of the CSR provisions is regarded as a breach of contract and could provide a basis for contract cancellation.

Suppliers must at minimum satisfy and abide by local, national and international laws, rules and principles (including provisions on matters such as pay, working time and health, environment, safety and anti-corruption). A standard annex on CSR that underlies our procurements applies across the entire SpareBank 1 Alliance. Read the annex here (pdf).

Investor and media contacts

Kjell Fordal
Executive Director, Finance
+47 905 41 672
Hans Tronstad
Head of Corporate Communications
+47 941 78 322