As part of the global financial sector, we have great possibilities for impact. That is why we support, use and contribute to multiple initiatives and frameworks.
Commitments, ratings, recognitions and certification
UN Sustainable Development Goals
Seven goals are especially relevant for the Bank
The United Nations Sustainable Development Goals are a common global roadmap for a sustainable future. In order to reach the goals by the 2030 target, governments and the business community in every country need to act. Together with the Paris Agreement, the SDGs provide the framework for the Bank's global initiative.
SpareBank 1 Østlandet has identified seven SDGs that are especially relevant to our operations. They are in areas where the Bank has significant risk and an opportunity to have an impact in a positive or negative direction. The SDGs are integrated into our daily work.
Ratings and recognitions
Sustainalytics - Negligible Risk
In 2023, the Bank has an ESG Risk Rating from Sustainalytics of Negligible risk and 9.2 on a scale of 0 (best) to 100 (worst). We are number 29 out of over 1 000 companies in the Industry Group 'Banks'.
Ranked 2nd place in Ethical Banking Guide 2023
The Norwegian Ethical Banking Guide is part of the Fair Finance International initiative. The analysis ranks companies on a scale from 0 to 100 in a number of categories. In 2023, we achieved a total score of 85 percent.
On the CDP A-list
In 2022, the Bank reported on the climate via the internationally recognised non-profit climate organisation CDP an achieved a rating of 'A.' The Bank also achieved a Forests score of A (-).
Top 10 in 'Sustainable Banking Revenues Ranking'
The Banker, owned by Financial Times, has together with Corporate Knights produced a new Sustainable Banking Revenues Ranking. SpareBank 1 Østlandet is ranked 8th in the global ranking, that was published Oct 2023.
Top 10 in 'World's Most Socially Responsible Banks'
Newsweek and global data firm Statista have joined forces to name and rank for the first time 'The World's Most Socially Responsible Banks.' SpareBank 1 Østlandet is number 8 out of 175 banks in the ranking, that was published Sept 2022.
Score 'B+' for our ESG reporting
The Position Green Group launches an annual review of ESG reporting of the 100 largest listed companies in Norway, Denmark and Sweden. In 2023, SpareBank 1 Østlandet acheived 'B+' on a scale of A+ to F.
Commitments to global initiatives
The United Nations Global Compact
This is the world's largest initiative for corporate social responsibility (CSR). We do our best to operate in line with its ten principles.
The UNEP FI Principles for Responsible Banking
SpareBank 1 Østlandet has endorsed the Principles, which aim to accelerate the banking industry’s contribution to achieving society’s goals as expressed in the Sustainable Development Goals and the Paris Climate Agreement.
Net Zero Banking Alliance
We were one of the first banks worldwide to join the industry-led UN-convened Net Zero Banking Alliance (NZBA). The Alliance brings together banks worldwide which are committed to aligning their lending and investment portfolios with net-zero emissions by 2050.
The Collective Commitment to Climate Action
SpareBank 1 Østlandet commits to the UNEP FIs Collective Commitment to Climate Action. This implies taking tangible steps towards aligning our business with international climate goals. The CCCA initiative is retired as of 27 March 2023. UNEP FI will continue to recruit banks to the NZBA and support them on their climate mitigation journey to net zero.
The European Climate Pact
We are proud to announce we have joined the European Climate Pact. By joining the movement, we pledge to take concrete action for the climate and the environment. The Climate Pact is part of the European Green Deal.
Sustainability Impact Analysis - Principles for Responsible Banking
The United Nations Environment Programme Finance Initiative (UNEP FI) launched the Principles for Responsible Banking in 2019. SpareBank 1 Østlandet was the first Norwegian bank to sign up to the principles. One of the first steps the Bank took was to conduct an impact analysis. The results of the analysis will be used in the Bank’s future sustainability work and changes to the Bank’s focus areas and targets are being assessed.
The Collective Commitment to Climate Action
SpareBank 1 Østlandet commits to the UNEP FIs Collective Commitment to Climate Action.
Submission Template for measures relevant to the Collective Commitment to Climate Action.
Norwegian inititatives and certifications
We have signed up for the Norwegian Guide Against Greenwashing
Greenwashing is a form of misleading marketing or communication, where a product, service or company is presented as “better” in respect to climate change, the environment or animal and human rights issues, without proper documentation to back this claim.
We support the Business Community's climate call
Our former CEO Mr. Richard Heiberg signed the Norwegian Business Community's climate call. The Bank wants to do its part in the transition to a low-emission society and will be an active partner in finding good solutions for the future. This means that we work together with customers, research environments, interest organisations, civil society and other stakeholders to cut emissions and reach the climate targets.
We are Eco-Lighthouse certified
SpareBank 1 Østlandet has been Eco-Lighthouse certified since 2008 and been re-certified every three years. Eco-Lighthouse is a Norwegian environmental management system where the intention is to help businesses meet their environmental challenges in an offensive way.
When the Eco-Lighthouse’s national general requirements and special industry requirements have been met, the business can be certified by the municipality and be awarded an official certificate that proves that they are working systematically, and can document their work, in respect of the environment. The scheme is supported and recommended by the Ministry of the Environment. Read more on www.eco-lighthouse.org
