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Sustainability Report 2020 2 | Ikano Bank AB (Publ) Sustainability Report 2020 Financial Environmental Social Sustainability report 2020 2 | Ikano Bank AB (publ) Sustainability report 2020 Financial Environmental Social Our owners’ view on sustainability: Content Management statement 3 Ikano Bank at a glance 4 Business model 5 ’’Sustainability is a journey. Governance 6 Sustainability direction 7 We can’t wait for one big Principles and SDGs 8 solution, we have to take Materiality analysis 9 Healthy & sustainable living many small decisive steps.” Financial stability 11 Peter, Jonas and Mathias Kamprad Counteract corruption and money laundering 12 Responsible lending 13 Responsible investments 14 Circular & climate positive Environmentally beneficial financing solutions 16 Climate smart business 17 Sustainable purchases 19 Fair & inclusive Equality and diversity 21 Employee development, health and safety 22 Social responsibility 23 Overview 24 Please consider the environment before printing this report. The document is optimised for full-screen viewing. Auditor’s sign off 25 3 | Ikano Bank AB (publ) Sustainability report 2020 Financial Environmental Social A long-term business perspective Making Ikano Bank a truly What does the word We often say that sustainability sustainable company starts in sustainability mean to you? is in our DNA as a company. What do we mean by that? the management team. We met Jessica: For me it’s all about using our up with CEO Henrik Eklund and resources wisely and to always have a Henrik: It dates all the way back to our chief commercial officer Jessi- long-term perspective on everything we founder Ingvar Kamprad. His philosophy do. Both on how we use our planet’s re- was truly sustainable, both in not being ca Svantesson in the Swedish sources and how we create a sustainable wasteful with resources and in relating to woods north of Malmö, to talk and long-term business. other people with kindness and respect. about long-term thinking, good Making the most of what we have is in our Henrik: I agree, and I think an important culture, whether it’s a piece of wood for business and a sustainable part is that what we do is sustainable furniture or fair financial services. Naming society. At a Covid-19 safe dis- and fair for all involved. Sustainability is a it sustainability is a later addition, even if it tance, of course. humane perspective as well as a matter of is an important word today. resources. Why is a focus on sustainability What role does Ikano Bank play good for our business? in contributing to a sustainable society? Jessica: Again, it is about long-term Henrik: Trustworthy and stable banking is thinking and creating trust. Long and fair Lastly, what sustainable achievements fundamental to a sustainable and equal relationships make our customers happy, in 2020 are you most proud of? society. People trust their money with our employees happy, and our owners us, and that is a huge responsibility. To happy. Jessica: I think we have some really cool provide banking services on fair terms to projects in the area of financing sustaina- the many people is our most important Henrik: Sustainability is also an important ble solutions. Like Farming-as-a-Service contribution. part of the digital transformation the Bank with Swegreen, and our cooperation with is in. With our new platform we can launch Ikea on circular use of office furniture. Jessica: Yes, and in addition to our own products faster and lower our costs. Wast- work for sustainability we can help others ing less resources is sustainable and good Henrik: I am very proud of our co-work- to realise their ideas for a sustainable for business. ers. This has been a demanding year, future, by financing them. It is a part of our of working from home and thousands of responsibility to find and encourage such online meetings. But I actually feel this has initiatives. For example, our loans for solar brought us closer together at Ikano Bank panels. – and hopefully this has given us all a new perspective on sustainability. 4 | Ikano Bank AB (publ) Sustainability report 2020 Financial Environmental Social 1,008 employees in Ikano Bank at a glance 8 countries. Working together using common sense and simplicity, and daring to be different is how we conduct our business every day. Furniture-as-a-Service (FaaS) launched for IKEA Business cus- tomers in Finland. The concept will be rolled out in all Nordic coun- tries during 2021. We create possibilities for Ikano Pay 3,346 better living by offering simple, our new retail offer was fair and affordable services, put in production on the solar panel installations financed enabling a healthy economy for by Ikano Bank since 2018. UK market. the many people. 3 product awards won in Germany: German Fairness Award and 2 BankingCheck Awards. 100 % of the energy used in our Swedish, SEK 60,968 m 7.1 tons German and Polish offices comes Ikano Bank selected top 100 reduction in internal paper from renewable sources. business volume. Career company in Sweden. consumption 2018–2020. 5 | Ikano Bank AB (publ) Sustainability report 2020 Financial Environmental Social Our business model Our business model can be as loans for private consumption, credit cards and savings accounts VISION: illustrated with a house. Our Create possibilities for better living values, people, history and Businesses. We offer leasing and factoring international outlook lay the services to companies through direct sales foundation for our three busi- as well as via partners. Our services give customers financial flexibility. Our solutions ness areas, and our vision and enable companies to free up capital and business idea is what guide us finance their growth. In turn, our partners BUSINESS IDEA: increase their sales. every day. Together we are We create possibilities for better living by offering simple, fair and affordable services, building a long-term focused Sales finance. We offer sales supporting enabling a healthy economy for the many people bank with sustainability as a finance solutions, including loyalty pro- natural part of everything we do. grammes, loyalty cards and instalment payment solutions, to retail partners. Ikano Bank is part of Ikano Group, and is Our services enable our partners to owned by the Kamprad family. In addition increase loyalty and generate additional OUR OFFER TO THE MARKET: to finance Ikano Group also has business sales, as well as offer their end-custom- operations in real estate, production, an- ers increased financial flexibility. alytics, insurance and retail. Today Ikano Bank operates in Sweden, Norway, Den- Our foundation Consumers Businesses Sales Finance mark Finland, The United Kingdom, Ger- Our retail heritage lays the foundation many, Austria and Poland, offering financ- for our purposeful, customer centric and ing services to consumers and businesses values driven culture. directly and indirectly via partners. Based on our values; working together, Our offer to the market common sense and simplicity, and daring OUR FOUNDATION: Our business is divided into three are- to be different we, conduct our business as, with three different target groups. This every day. Guided by our promise; On fair makes the Bank resilient to market changes terms. This is the foundation for how we People, Values & Leadership and contributes to lower risk in our opera- grow our people and business, ensuring tions. efficient ways of working, clear govern- ance, leadership skills, competences and Retail Heritage Bank License Consumers. We offer private customers continuous development. simple and smart banking services such 6 | Ikano Bank AB (publ) Sustainability report 2020 Financial Environmental Social Sustainability governance Sustainable development is an Transformation office important and integral part of The Transformation office has the opera- List of relevant policies tional responsibility by mandate from the for sustainability governance the pursuit of value creation for CEO to drive the sustainability agenda customers, employees, and the across the Bank. The Transformation office IKANO GROUP POLICIES society. We are making sustain- coordinates the overall agenda, ensuring (adapted by the Bank) correlation between strategic initiatives ability an integral part of the for sustainability and reporting on the • Charity overall business strategy. progress. It is also responsible for the • Code of conduct Board overall prioritisation of initiatives to ensure • Partnership of directors We believe that having a clear under- alignment with the business strategy. • Whistle-blower standing of the importance of sustainability in everything we do, with focus on the im- Global functions and business units IKANO BANK POLICIES pact we have both in our operations and Our ambition is to have sustainability as CEO how we can support our customers, and a natural part of how our global functions • Anti-money laundering thus increase business value, is increasing- and business units operate every day. and counter terrorism financing ly important. They are responsible for implementing • Compensation benefit sustainability policies, and secure sustain- • Compliance Transformation During 2020 the governance structure was able products and services in our customer • Conflicts of interest, anti-bribery office clarified to ensure we deliver on our ambi- offerings. and corruption tion to make sustainability a natural part of • Credit risk everything we do. Sustainability work groups • Finance Global functions If needed, sustainability work groups will • Governance, risk & business units Board be formed to drive specific sustainability Management and control The Board of directors has overall respon- tasks related to policies and strategy. A • Operational risk sibility for strategy and policies. The Board steering committee will be formed around • Personal data protection will address and consider strategic and the work groups according to need. The • Risk and capital tactical issues related to the sustainability work groups will consist of representatives • Risk control area. from markets and functions relevant to the assigned task. CEO The chief executive officer is responsible for the execution of the sustainability di- rection and implementation of the govern- ance structure set by the Board.
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