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2021 Green Investor Presentation

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2021 Green Investor Presentation Sustainability within SpareBank 1 SMN & the Alliance Norway’s path towards sustainability Funding for Energy Savings Measures (150m High-level panel on Vote in Favour of NOK) sustainable ocean ENERGIX Paris Agreement Emission Programme economy Standards for Gas- Klimaløftet: Fired Power: to Governmental BEEG: Baltic NREAP: National More new EVs sold Six Norwegian reduce imports of campaign for public Energy Renewable than new petroleum- Banks Commit to Efficiency coal-fired Ratification of awareness on climate Kyoto Protocol Energy Action fueled cars UN Principles for electricity change Group Plan Responsible Banking 1999 2000 2003 2008 2014 1998 2002 2007 2012 2017 2019 KLIMAFORSK: ENOVA SF: Norwegian Wind Power National NICFI: Norwegian Large scale Norwegian responsible Climate Act Production Hydrogen Government’s programme on Action Plan for Commission Climate Support: Support International Climate for Implementation of implementing Research scheme for wind and Forest Initiative Biodiversity the 2030 Agenda power production energy efficiency for Sustainable policy and UN-REDD: UN Rainforest Development programmes Collaborative Program Alliance on Reducing Emissions Award from Deforestation and Forest Degradation in Developing Countries We support Norway’s ambitious target to be a leading sustainable society, given our status as a regional savings bank 2 Sustainability governance within the Alliance • Ensures all 10 principles of sustainability are integrated in SpareBank 1 Alliance has signed day-to-day operations up for the United Nations • SMN reports annually about corporate social responsibility Global Compact and sustainability efforts based on the guidelines of the of the Global Reporting Initiative The Sparebank 1 Alliance is a • The Norwegian Green Building Council, a part of the World member of the Norwegian Green Green Building Council, was established in 2010 to drive Building Council sustainability in the Norwegian built environment, primarily through the introduction of environmental rating tools SMN and the other banks in the Alliance, have developed a joint • The joint policy encompasses all four major areas of policy on sustainability for sustainability, including environmental factors suppliers2 The SpareBank 1 Alliance’s asset • The SpareBank 1 Alliance’s asset manager Odin is a signatory manager and SMN Utvikling are of the UN PRI (Principles for responsible investments) guided by sustainability in their • SpareBank 1 SMN Utvikling invests in projects designed to investments support a positive development of society. NOK 60m has been invested in infrastructure projects and venture funds.(GRI 203-1) SpareBank 1 SMN (Trondheim) • This is an initiative where over 5400 Norwegian companies, public institutions and other organizations SpareBank 1 SMN is ‘Eco- have become certified and follow certain industry specific lighthouse’ certified in Norway rules and principles to reduce their environmental impact. • The EU recognised Norway’s Eco-lighthouse arrangement in December 2017, meaning it complies with the eco- management and audit scheme (EMAS) in the European Union. 3 2 https://www.sparebank1.no/en/smn/about-us/sustainability/environmen-and-procurement.html At the heart of Central Norway’s community We are the region’s leading financial group and we are present in 42 municipalities. We want to contribute to society’s value creation through responsible banking operations that give confidence to the people Savings bank Supporting local business and SMEs • We are a savings bank. This gives us the • We have a responsibility to create growth and opportunity to be in step with people’s lives development in Central Norway and to support and to give back to the local community: every local businesses and small, medium and micro- year we share a portion of our profits with the enterprises in the region local community Donations Environment and procurement • We have defined donations as a strategic • We work continuously to reduce our priority area and we return some of the profits consumption of energy, paper and resource to the society since 1840. Through the demanding travel. Our procurement policy distribution of social profits, We support requires all purchase contracts to include volunteerism, young talents, sports, theater documentation of CSR Strong retail focus Ethics and Diversity • We operate following our strict ethical • We develop sustainable banking products with guidelines in terms of human rights, respect of the main purpose of ensuring good banking the environment and anti-corruption. We strive and focusing on developing customers advisers for diversity with regard to ethnicity, religion, especially in the retail area sexuality, gender and age 4 Source: https://www.sparebank1.no/en/smn/about-us/sustainability.html Five strategic priorities for 2020-2023 Increase digitalisation and Exploit the power in our Create ‘One SMN’ Head up the Integrate sustainability use of insight development of ownership model Norway’s savings bank into the business system •Sustainable development • Strengthen the customer • Ensure relevance • Collaboration as a •Reduce risk • The region’s offering and distribution • New digital solutions competitive advantage •Realise business development and value • Simplifications and • New income flows • Growth creation efficiencies • Improved efficiency opportunities • Pride and commitment • Attractive jobs • Strengthened position 5 The bank’s strategi for sustainability shall enable our financial goals and give the business areas guidance and flexibility Our financial targets 1. Return on equity among the best in the Nordics – currently at 12 % 2. Solid bank with Core Equity Tier 1 Growth Efficiency Simplification ratio at 16.9 %. Distribution around 50 %. 3. Yearly cost growth shall be limited to 2 % within the existing business areas. Our vision and role in society The banking group’s role is to stimulate to Responsible financial house a sustainable developoment (of the region). 6 The banking group’s role in society is to stimulate a sustainable development of the central part of Norway Financial house In these three dimensions the Driver for banking group shall play an green important role in opinion transformation formation in Central Norway «Together we’ll get Partner for things Guide for inclusive done» responsible development of business society culture Customer offering Society dividend 7 Priorities for SMN in its sustainability strategy towards 2023 Facilitator for green transformation Partner for inclusive societal Guide for responsible business culture development Priorities in SMN Priorities in SMN Priorities in SMN Financial house (common) Financial house (common) Financial house (common) ● Ethical standards ● Green transformation ● Competence boost ● Data and cyber security ● Sustainable business culture ● Standards for purchasing and responsible marketing Customer offering Customer offering ● Stimulate green transformation ● Enhance social rights in products and Customer offering ● Competence boost services ● Prevent economic crime and corruption ● Stimulate innovation and sustainable economic growth Society Dividend: Contribute to green transformation adding sustainability to the agenda through initiatives beneficial to society. 8 SMN is clear on roles and responsibilities GROUP CEO DESIGNATES EXECUTIVE DIRECTORS/MANAGING DIRECTORS AS ‘AMBASSADORS FOR RESPONSIBLE BANKING’ EXECUTIVE DIRECTORS/MANAGING DIRECTORS APPOINT AN ESG MANAGER FOR THEIR RESPECTIVE BUSINESS LINES SpareBank 1 SMN – ESG MANAGERS OF EACH BUINESS Steering committee LINE CONSTITUE THE GROUP’S ESG for sustainability COMMITTEE THE ESG COMMITTEE DEVELOPS AND COORDINATES THE WORK ON ACHIEVING AN OVERALL GROUP STANDARD BUSIINESS REPORTING IS DONE BY THE ACCOUNTING AND FINANCE DEPARTMENT 9 Incorporating Climate Risk in our credit process • For 2021 our main focus will be on climate risk • Our aim is to further develop, intensify and flesh out this work in step with the increase in knowledge and maturity with regard to this theme in the organisation • We will utilise a risk analysis recommended by the Task Force on Climate- related Financial Disclosures (TCFD) • Credit policy and guidelines will be further developed in the shape of concrete requirements which will in part be industry-specific • We aim to conduct a sustainability classification of our own loan portfolio in the course of 2021 ➢ Through the integration of climate risk assessments into loan approvals, customer follow-up and pricing, the bank will ensure good monitoring and management of the climate risk to which the bank is exposed 10 Sustainability is a strategic foundation of SMN Ambition to integrate sustainability into all aspects of the business Good ESG rating – but the ambitions are higher ISS ESG: C- (2020) 2nd Decile ranking (high relative performance) Sustainable Brand Index – 2019 & 2020 industry winner in Norway 11 Green Bond Framework SMN 2020 Green Bond Framework Highlights Rationale for structuring a Green SMN Green Bond Framework Bond Framework Highlights • Green Bonds contribute to global and • Use of Proceeds: national environmental objectives – Energy efficient residential and • Close alignment with sustainability ambitions commercial buildings (methodology from of SMN’s corporate clients in Central Norway Norwegian building expert: Multiconsult) • Contribution and alignment with the UN Sustainable Development Goals (SDG’s) – Eco efficient and circular economy adapted • Highlighting SpareBank 1 SMN’s sustainability products,
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