Policy on Corporate Social Responsibility

 

Within the Swedbank group, Corporate Social Responsibility (CSR) is defined as Swedbank’s responsibility for the impact of its decisions and activities on society and the environment, through transparent and ethical behaviour that:
• is consistent with sustainable development and the welfare of society,
• takes into account stakeholders’ expectations
• complies with current legislation and is consistent with international standards and practice,
• is integrated into all of Swedbank’s operations.

 

The Swedbank group supports the United Nations Global Compact. The principles set out in the Compact should be regarded as the basic principles on which this policy is based, namely:

Human rights
1. Businesses should support and respect the protection of internationally proclaimed human rights.
2. make sure that they are not complicit in human rights abuses.

Within the Swedbank group, this means:
• actively considering human rights aspects in all business activities and avoiding engaging in activities that, in any way, disregard human rights,

• Swedbank employees, who play a decisive role in customer contacts, being required to meet stringent demands in terms of ethics and business morals -Swedbank also implements its own ethical rules that extend beyond applicable legislation and regulations. These are described in the group’s Ethics Policy

• equality and diversity being of strategic importance.

Labour standards
3. Businesses should uphold the freedom of association and the effective recognition of the right to collective bargaining,
4. the elimination of all forms of forced and compulsory labour,
5. the effective abolition of child labour, and
6. the elimination of discrimination in respect of employment and occupation.

Within the Swedbank group this means:
• establishing working conditions within Swedbank that are in compliance with the above mentioned principles of the Global Compact and with current legislation and regulations,
• actively considering labour standards, when engaging in business, and avoiding engagement in any business that disregard labour standards set out in the Global Compact.

Environment
7. Businesses should support a precautionary approach to environmental challenges,
8. undertake initiatives to promote greater environmental responsibility, and
9. encourage the development and diffusion of environmentally friendly technologies.

Within the Swedbank group this means:
• actively promoting greater environmental responsibility in relation to Swedbank’s business and conducting business in a manner that considers opportunities and risks from an environmental perspective, e.g. credits and investments- this includes climate change and related risks,
• being aware of global environmental issues and Swedbank’s opportunities to have both a direct and indirect impact,
• taking environmental impact into account in the development and provision of products and services

Anti-corruption
10.Businesses should work against corruption in all its forms, including extortion and bribery.

Within the Swedbank group this means:
• working actively against corruption and bribery in accordance with the group’s Ethics Policy,
• working actively against money laundering and terrorist financing in accordance with the group’s Anti-Money Laundering and Anti-Terrorist Financing Policy.

In addition to these principles, the group may ratify further and more detailed international agreements.

Swedbank promotes a performance oriented culture, transparent communications, a willingness to change and a high level of commitment from all employees. These are the core values embodied in Swedbank’s implicit promise to society to minimize harm, maximize benefit, build accountability and responsiveness, and to foster and stimulate financial growth.

Being an international player, Swedbank recognizes that its actions have an impact on all stakeholders – customers, employees, suppliers, partners, non-governmental organizations, society, governments and regulators, investors and others, as well as on the global environment.

With its history in local banking, Swedbank has participated in efforts to develop communities for the benefit of residents. This could also be described as actively promoting the financial infrastructure necessary for growth.

Swedbank considers CSR a multi-faceted concept comprising different context-specific aspects of what is expected of a responsible global corporate citizen.

Within Swedbank, the concept of CSR is considered to embody several important issues, each of which is regulated separately. The overall ambition of being a positive force in society is achieved through the day-to-day actions of all employees in accordance with the core values of the Swedbank group.

 

CSR issues shall be integrated into the ongoing operations of the Swedbank group. The Board of Directors determines the overall principles of corporate governance within Swedbank on an annual basis.