The bank has signed up to several national and global sustainability initiatives, objectives and frameworks, all of which provide guidelines for the bank’s work within sustainability.
UN Sustainable Development Goals
Sparebanken Møre supports all 17 of the UN Sustainable Development Goals (SDGs). Based on insight work, stakeholder engagement and findings from a conducted materiality analysis, we have chosen five SDGs (SDG profiles) that we believe we have a real opportunity to have an influence on. These are SDGs 8, 9, 11, 12 and 17. We have also identified SDGs 3, 4, 5, 13 and 14 as targets that we also want to focus on through the multiple roles we play as an employer, social actor, investor, lender, facilitator, and provider of financial services. We will work on reinforcing positive impacts and reducing negative impacts within these SDGs.
SDG 8: Decent work and economic growth
As a regional savings bank and the largest financial environment between Bergen and Trondheim, Sparebanken Møre is an important source of financial information and financial services for both people and businesses in Nordvestlandet. We take a systematic approach to entrepreneurship and innovation in order to reinforce value creation and employment in our region.
SDG 9: Industry, innovation and infrastructure
In order for Nordvestlandet to be an attractive region in the future, it is important that we work actively to build solid infrastructure, promote inclusive and sustainable industrialisation, and contribute to innovation. Sparebanken Møre wants to be both a driving force, and a supporter of, such activities.
SDG 11: Sustainable cities and communities
Since its inception in 1843, Sparebanken Møre has contributed to making cities and communities inclusive, safe, resilient and sustainable. This is vital for quality of life, innovation, population growth and value creation. Society needs strong local communities to develop and Sparebanken Møre must be a supporter of local communities.
SDG 12: Responsible consumption and production
In order to contribute to sustainable regional development, the public sector, the business sector and individuals must change their consumption. As a society, we currently consume more than is environmentally sustainable. Sparebanken Møre wants to help reverse this by increasing knowledge and awareness, setting requirements for customers and suppliers, contributing to research in the area, and taking steps in our own organisation. If we are successful, this could result in economic growth in the long term, mitigate climate change and improve the quality of life.
SDG 17: Partnerships for the goals
Strong new partnerships are needed in order to achieve the SDGs. The authorities, business and local communities must work together to achieve sustainable development. As a major regional player, Sparebanken Møre can make a difference. We want to encourage partnerships and help connect knowledge and relationships across disciplines and industries by creating and supporting various forums.
Finance Norway – ‘Roadmap for Green Competitiveness in the Financial Sector’
Finance Norway has developed the ‘Roadmap for Green Competitiveness in the Financial Sector’. This expresses the following vision:
“The financial sector of 2030 is profitable and sustainable. We lend, manage and insure with the climate in mind, so creating value and contributing to green competitiveness.”
Sparebanken Møre supports the roadmap and will contribute to the work to achieve both national and global sustainability goals.
Finance Norway also has working and reference groups related to sustainability and climate risk. Sparebanken Møre took part in these throughout 2020.
The EU’s Sustainable Finance Action Plan
The EU has prepared an action plan for sustainable development in which the EU’s taxonomy is one of ten instruments. In order to contribute to the target of ‘net zero’ greenhouse gas emissions by 2050, Sparebanken Møre will adapt to and follow up the expectations and requirements that follow from this with respect to our stakeholders. We also want to assume the role of driving force in our market area.
The EU’s Sustainable Finance Action Plan reflects the fact that the financial services sector’s role in the development of society will have to change in order to support the global sustainability agenda. Sparebanken Møre can and will be an important stakeholder when it comes to supporting and facilitating the sustainable development of society. This entails the incorporation of climate and environmental considerations as well as social considerations, respect for human rights and economic responsibility in business activities.
UN Principles for Responsible Banking (PRB)
The UN Environment Programme (UNEP) has a partnership with the financial services sector called the United Nations Environment Programme – Finance Initiative (UNEP FI). The programme consists of six principles that are aimed at making the banking industry capable of assuming a leadership role in achieving the UN Sustainable Development Goals and fulfilling the Paris Agreement.
Sparebanken Møre signed up to the UNEP FI Principles for Responsible Banking in October 2019. This entails a commitment to implement and carry out measures that support the six principles in the period up to 2023. The bank will publish a self-evaluation report that provides information about the status of this work in April 2021. The report will be reviewed by an independent third party.
UN Guidelines for Business and Human Rights/ OECD Guidelines for Multinational Enterprises
The guidelines are about the responsibility that businesses are expected to assume on behalf of people, society and the environment that are impacted by their activities. The government expects all Norwegian companies to comply with the UN Guidelines for Business and Human Rights (UNGP) and OECD Guidelines for Multinational Enterprises (OECD Guidelines). Sparebanken Møre is Corporate to comply with the guidelines, including through the bank’s ‘Code of Conduct and CSR Policy’.