|Date joined:||12 May, 2020|
|Initiatives:||Principles for Responsible Banking|
Brief Overview of Organization
SBAB Bank AB (publ), (SBAB), was founded in 1985 and is wholly owned by the Swedish state. SBAB’s business idea is to be mindful and innovative in its offering of loan and service products to customers, tenant-owners’ associations and property companies in Sweden.
The Retail business area offers savings and loan products, and digital home and housing services to consumers. The core product – residential mortgages – is supplemented by personal loans and insurance broking.
The Corporate Clients & Tenant-Owners’ business area offers savings and financing to property companies and tenant-owners’ association.
Summary of Sustainability Strategy
In the process of creating a sustainable society, the business community, including SBAB, has a decisive role to play, especially in times when the bank sees uncertainty and ignorance in the housing market. SBAB is passionate about its mission – help improve housing quality and household finances and takes its task as a bank in that market for the most part. With openness and transparency, SBAB wants to improve the view of the banking and finance industry while helping its customers realize their dreams – dreams of a home. SBAB is convinced that it is helping to solve many of society’s challenges it faces today through its business.
With its mission as a starting point, SBAB has reviewed its strategy of sustainable businesses and realized that it no longer distinguishes between business goals and sustainability goals. SBAB thinks it’s an old, and in many ways, inefficient way of working – the foundation for all activities must be sustainable. For each focus area, the bank has established a strategy and decided on directly measurable and followable goals. Together they form the basis for how the bank drives its business forward and contributes to a sustainable development.
SBAB’s Sustainable Development Goals
SBAB governs its business with three overall business and sustainable target areas:
- Responsibility and transparency
- Attractive workplace
- Sound finances
SBAB Contributes to the Sustainable Development Goals
SBAB has identified and prioritized four of the UN’s 17 Sustainable Development Goals, which it considers to be particularly important and relevant to its operations. The selected goals have been decided based on extensive analysis work in the form of internal workshops and ranking exercises in business, management board. The goals form an integral part of SBAB’s sustainable management model and thus, daily work.
- Goal 8 – Decent work and economic growth
- Goal 11 – Sustainable cities and communities
- Goal 12 – Responsible consumption and production
- Goal 13 – Climate action
SBAB has joined UNEP FI and signed the Principles for Responsible Banking to be part of the common framework that will align banks globally to jointly work towards meeting the Sustainable Development Goals and the Paris Agreement. By aligning to the Principles, SBAB will be part of a transparent framework which customers, investors and other stakeholders can use to make informed decisions.