Swedbank has a large number of suppliers and therefore has a big responsibility but also good opportunities to influence them based on sus tain ability specifications and expectations. The aim is to work together to promote sustainability at every level.
The supplier code of conduct is the basis for the requirements and expectations that Swedbank advocates and is the starting point for contracts with the bank’s suppliers. The code sets requirements on the suppliers’ work in areas such as human rights, labour rights, business ethics and the environment. It clarifies the bank’s vision and position on these issues and distinguishes between mandatory and voluntary criteria. This facilitates a dialog and development together with the suppliers.
To ensure that the procurement process supports Swedbank’s overarching sus tain ability strategy, a digital platform is used to effectively manage sustainability related data, analysis and monitoring based on the supplier code.
Compliance is obviously important. Additional follow-ups are conducted as needed in the form of site visits and inspections. Cases can be escalated to the procurement unit´s sustainability forum, which will decide on actions against the supplier or whether the contract should be terminated. Swedbank’s Business Ethics Committee can also be consulted if ethical dilemmas arise.
Swedbank will continue to create opportunities for innovation in sustainability with the help of strategic partnerships along the entire supply chain, to speed up the transition to a sustainable society in line with the SDGs and the Paris Agreement.