Post on 22-Jan-2018
Sustainability in SEB
Klas Eklund January 28, 2017
Capitalism is the new villain
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WEF: Global risks 2017
Scandals and governance
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Michael Porter: ”Shared value”
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Harvard Business Review
January 2011
UN: Sustainable Development Goals
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Do no harm!
Be a good citizen!
See the business
opportunities!
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It’s really quite simple…
Is it profitable?
9 Svenska Dagbladet, March 29, 2016
What obstacles?
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Three areas: ESG
Governance
Transparency
Non-corruption
Long term
Remuneration
Reporting
Tax & money
laundering
Code of conduct
Environment
Waste management
Energy efficiency
Renewables
Cut own emissions
Supply chain
Client contact
Social
Health and safety
Human rights
Competence
Diversity
Drugs
Sports/culture
Mentorship
Unemployment
Financial sector is moving ahead
Vast majority in Paris agreed to stop warming
China, India, US (?) and EU accept emissions targets
Green financial reforms in China
G7 commitment to leave fossil fuels
Stranded assets
Mark Carney: ”Fossil fuel investors face potentially
huge losses”
BlackRock puts pressure on companies they hold
Norwegian SWF – and many banks – will move out of
carbon
Swedish FSA wants to stress test credit portfolios
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13 FT, April 6, 2016
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Green finance
Entrepreneurs
Sustainable
investments
Reducing our
emissions
SEB wants to be a role model
within the financial industry
Engaged and knowledgeable employees
Responsible and transparent business
Our own emissions
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2008
11 313
23 409
3 369 4 087
Travel
Energy
Paper
Company cars
2015
12 405
4 197
815 1 701
Reduction of CO2 emissions
between 2008 and 2015
Emissions (tons)
SEB’s total emissions
2008: 42 178 tons
2015: 19 118 tons -54 %
CO2 per employee: 1,23 tons
Credits, savings and ownership is crucial
Credits
– What should we fund? What should we avoid?
– Measure credit portfolio’s environmental (and social) footprint
– What responsibility further along the value chain?
– Voice or exit?
Ownership
– How active?
– Measure environmental (and social) footprint of holdings
– What responsibility in the next link?
– Voice or exit?
Method
– Policies and guidelines
– Top-down and bottom-up
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Code of conduct
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Principles for
Responsible
Investments
Influence!
Include!
Exclude!
Responsible investments
SEB sustainability funds
Climate
change
Toxic
pollution
& waste
Natural
resources
Dialogue
Green bonds
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Developed by SEB and the World
Bank
Some recent SEB transactions:
• Fortum Värme
• Latvenergo AS
• Vasakronan
• Göteborgs stad
• World Bank
• HSBC
Globally – since the start
over 500 green bonds
ca 100 issuers
all parts of the world
Frodeparken, Uppsalahem
Since the start, over 120 bn USD have been issued
Micro finance funds support entrepreneurs
17 million people in Asia, Africa
and Latin America
benefit from fund money.
Ambitious climate policy
Away from coal
– No funding of new coal-fired
plants
– No new clients who are
heavy into coal
– Support our own clients’
shift out of coal
Support climate-friendly
investments
Encourage clients to monitor
and show climate effects
Swedish banks sustainability ranking Fair Finance Guide 2016
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Warning!
Proud but not satisfied
Do not become complacent
There will be new crises
A moving target
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