SEB strives to reduce the negative impact its operations may have on the environment. This applies to the direct impact of our daily business activities as well as to the indirect effects of our lending and asset management operations.

Our priorities

• Ensuring compliance of SEB’s environmental standards in all parts of our operations
• Engaging with our suppliers on environmental issues
• Developing new products that live up to the environmental preferences of our customers
• Reducing SEB's carbon footprint

Environmental considerations

SEB strives to reduce the negative impact its operations may have on the environment. This applies to the direct impact of the Group’s daily business activities as well as to the indirect effects of lending and asset management operations. SEB is a signatory of the International Chamber of Commerce Business Charter for Sustainable Development since 1996 and supports the United Nations Environment Programme Finance Initiative. SEB is also a member of the United Nations Global Compact and supports the OECD guidelines for Multinational Enterprises.

Our direct impact

Environmental management system

SEB’s environmental management system is governed by an Environmental Policy adopted by the President and CEO. Heads of all divisional and business areas are responsible for day-to-day implementation of the Policy. The SEB Corporate Sustainability Committee oversees the work. This includes quarterly reporting and analysis of a range of environmental performance indicators.

During 2008 SEB’s total  energy consumption in buildings was reduced by 14 per cent. The energy consumption relates to main SEB sites. Energy consumption in rented premises is  currently not monitored on a group basis. We are working with property owners to improve our ability to monitor energy consumption and to reduce energy consumption in rented premises.

We also reduced air travel and increased train travel. CO2 emissions from travel were reduced by 5 per cent. The share of environmentally labeled paper increased to 63 per cent of our total paper consumption. Waste consumption progressed negatively and  the rate of waste recycling decreased to 34 percent.

Environment and suppliers

We request an environmental policy from all suppliers with which we have a framework agreement. All of the major suppliers have supplied such policies.

Our indirect impact

Environment and lending

Assessment of environmental risks is integrated into SEB’s Credit Policy. Every decision to grant a credit shall take into account possible environmental risks that could impact a customer’s creditworthiness. We also evaluate the broader sustainability aspects of the credit decision, including possible negative environmental and social impact.

However, our potential indirect impact on environmental sustainability is larger on the
positive side – as a provider of financial solutions for environmentally-friendly development and investments – than on the negative. The Green Car Loan, which offers attractive credit financing for environmentally friendly cars, and a range of responsible investment funds, can illustrate SEB’s ambition to offer products specifically tailored for sustainable investment.

Environment and asset management

SEB Asset Management currently manages 15 Socially Responsible Investment Funds that apply strict environmental investment criteria. By adopting the United Nations Principles for Responsible Investments in 2008, additional emphasis will be put on environmental issues in our ownership policies and practices.