Sustainability in SEB Klas Eklund

Sustainability in SEB

Klas Eklund January 28, 2017

Capitalism is the new villain

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http://www.google.se/url?sa=i&rct=j&q=&esrc=s&source=images&cd=&cad=rja&uact=8&ved=0ahUKEwi2lY__vfTLAhXkd5oKHdUwCvEQjRwIBw&url=http://www.comingsoon.net/movies/trailers/632231-new-big-short-poster-and-featurette&psig=AFQjCNF05wVD_WrrCyDEZIMRp02s8UJBDA&ust=1459842139618833

http://www.google.se/url?sa=i&rct=j&q=&source=imgres&cd=&cad=rja&uact=8&ved=0ahUKEwjLzp7QvfTLAhVkD5oKHTC_CNcQjRwIBw&url=http://t1.gstatic.com/images?q%3Dtbn:ANd9GcTm52BWbxXmwOpfz5rmx0BNBj79kSQoGpYPq4TVt07Jel5En6aC&psig=AFQjCNFDdfIH93thI-Iq788w-0UmnX8k8g&ust=1459842067044085

http://www.google.se/url?sa=i&rct=j&q=&esrc=s&source=images&cd=&cad=rja&uact=8&ved=0ahUKEwifzYyavaLMAhVBDJoKHSS4AUoQjRwIBw&url=http://www.amazon.com/Swimming-Sharks-Journey-World-Bankers/dp/1783350644&bvm=bv.119745492,d.bGs&psig=AFQjCNGNOFDhSAe3BOJQxz_OyRah7TDM1w&ust=1461422487749995

The planet is heating

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http://www.google.se/url?sa=i&rct=j&q=&esrc=s&source=images&cd=&cad=rja&uact=8&ved=0ahUKEwj0x8uP8ZvQAhUCjiwKHXawCmUQjRwIBw&url=http://www.vox.com/2016/1/20/10799442/2015-hottest-year&psig=AFQjCNHAhwWhb-uXpMmxeUB5AVKagaJiSA&ust=1478787961258724

WEF: Global risks 2017

Scandals and governance

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Michael Porter: ”Shared value”

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Harvard Business Review

January 2011

http://www.google.com/url?sa=i&rct=j&q=&esrc=s&frm=1&source=images&cd=&cad=rja&docid=SvWpKNpSCeYxaM&tbnid=vxMO72kbyDsR3M:&ved=0CAUQjRw&url=http://www.mbamission.com/blog/2012/07/18/professor-profiles-michael-e-porter-harvard-business-school/&ei=2SBYUu7ANKvO4QTitoCQAQ&psig=AFQjCNH0-Iel12Cgp4x_iC5Yk2VoIsjStg&ust=1381593637782238

http://www.google.com/url?sa=i&rct=j&q=&esrc=s&frm=1&source=images&cd=&cad=rja&docid=gKDxZ2_yWc1G-M&tbnid=UufcynDzQQe-2M:&ved=0CAUQjRw&url=http://hbr.org/2012/04/the-53rd-annual-mckinsey-awards/ar/1&ei=CCFYUruOJsT04QSV2YHwCw&psig=AFQjCNH79tSNpLTohbbFGtYTDZC9Zyz7Mg&ust=1381593715572489

http://www.google.com/url?sa=i&rct=j&q=&esrc=s&frm=1&source=images&cd=&cad=rja&docid=9Oho_BSpeITxOM&tbnid=GtvBO8dGLEcx4M:&ved=0CAUQjRw&url=http://www.fsg.org/tabid/191/ArticleId/241/Default.aspx&ei=VCFYUr3lDYHK4ATHxIDQCg&psig=AFQjCNGfi_C2f2q-Ik7HCixqFu9A7Fa7Rg&ust=1381593783262370

UN: Sustainable Development Goals

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http://www.google.se/url?sa=i&rct=j&q=&esrc=s&source=images&cd=&cad=rja&uact=8&ved=0ahUKEwjuqNTJ-47QAhVBVSwKHU1zC-QQjRwIBw&url=http://studentsforliberty.org/africa/2015/10/19/implementing-the-sustainaible-development-goals-in-africa/&psig=AFQjCNGyRhqBS5jqcnwLLYsvsOu0xt6RhA&ust=1478344222687748

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

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https://www.google.se/url?sa=i&rct=j&q=&esrc=s&source=images&cd=&cad=rja&uact=8&ved=0ahUKEwiamsDGgfvPAhXKDpoKHUFMAcQQjRwIBw&url=https://blogs.adobe.com/conversations/2016/09/adobe-named-to-dow-jones-sustainability-world-index.html&psig=AFQjCNHOY8z9Hp1_DL9lK58pPRhjUok_Sg&ust=1477658626179493

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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Sustainability in SEB Klas Eklund

Environment

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