Sustainability in SEB Klas Eklund
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Sustainability in SEB Klas Eklund
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Sustainability in SEB Klas Eklund
- 1. Sustainability in SEB Klas Eklund January 28, 2017
- 2. Capitalism is the new villain 2
- 3. The planet is heating 3
- 4. WEF: Global risks 2017
- 6. Michael Porter: ”Shared value” 6 Harvard Business Review January 2011
- 7. UN: Sustainable Development Goals 7
- 8. Do no harm! Be a good citizen! See the business opportunities! 8 It’s really quite simple…
- 9. Is it profitable? 9Svenska Dagbladet, March 29, 2016
- 11. 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
- 12. 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 12
- 13. 13 FT, April 6, 2016
- 14. 14 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
- 15. Our own emissions 15 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
- 16. 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 16
- 17. Code of conduct
- 18. 18 Principles for Responsible Investments Influence! Include! Exclude! Responsible investments SEB sustainability funds Climate change Toxic pollution & waste Natural resources Dialogue
- 19. Green bonds 19 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
- 20. Micro finance funds support entrepreneurs 17 million people in Asia, Africa and Latin America benefit from fund money.
- 21. 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
- 22. 22
- 23. Swedish banks sustainability ranking Fair Finance Guide 2016 23
- 24. Warning! Proud but not satisfied Do not become complacent There will be new crises A moving target 24