OPERATIONS
STATEMENT AND RESULTS
An integral part of the strategy During 2021, the bank both further intensified and structured its work on sustainability. A materiality analysis was conducted in 2020 in order to focus our efforts on the areas of greatest importance for both stakeholders and the bank’s long-term value creation. No changes have been made to this page. Specific goals have been formulated based on materiality analysis and these are included in an overall strategy for sustainability that has been approved by the Board of Directors. Sustainability has also been made a priority focus area in the bank’s group strategy for the period 2022-2025. The overarching objective for Sparebanken Møre is to be a driving force for sustainable development. The objective has been firmed up through special action plans and measures in all of the bank’s departments and unit/divisions. Over the year, sustainability became better integrated into the bank’s governing documents and further training measures were implemented throughout the organisation. Several internal processes were also initiated to implement sustainability in the bank’s operations. A more detailed description of this can be found under ‘Material topics’. Sparebanken Møre will continue this work at full steam in 2022, both inside the bank and outside. We will do our bit for our shared future by being a driving force for sustainable development in Nordvestlandet.
Reporting standards The bank reports on its work on sustainability and corporate social responsibility (CSR) every year in connection with the annual report in line with section 3-3(c) in the Accounting Act. This stipulates requirements regarding human rights, labour rights and social conditions, the external environment and combating corruption in business strategies, day-to-day operations and in relation to stakeholders. In order to ensure it takes a systematic and structured approach, the bank reports in line with the GRI standard ‘Core’ option. This also means reporting the Group’s CO2 emissions in accordance with the Green-
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Sparebanken Møre Annual report 2021
RESPONSIBILITY AND SUSTAINIBILITY
house Gas Protocol Initiative (GHG Protocol). In 2022, the bank will start work on adapting to a new GRI standard and conduct a new materiality analysis in connection with this. Having signed up to the UNEP FI Principles for Responsible Banking (PRB) in 2019, the bank will report on its status in relation to the six principles as part of its annual report from the 2021 accounting year onwards. In 2021, we started work on reporting in line with the Task Force on Climate-related Financial Disclosures (TCFD), and our first report on this area forms part of this sustainability report. Sparebanken Møre will also follow the prevailing practices in the market and relevant recommendations. The reported information must be accurate, balanced, understandable, comparable, timely and reliable. The bank’s sustainability reporting is included in its annual report. It will also function as a stand-alone document that is published on the bank’s website.
Organisation of the work The Board is responsible for establishing guidelines and strategies for the bank’s sustainability work, while the CEO is responsible for implementing the strategies. In 2020, the bank established a dedicated sustainability committee, which consists of sustainability coordinators who represent various areas in the bank. The committee is responsible for the preparation and follow-up of the bank’s sustainability strategy and reporting to the executive management group. The committee will with its multidisciplinary organisation contribute to disseminating sustainability to all employees. Minor changes were made to the composition of the committee during the year and a new area was also added. In connection with the establishment of a green framework for the issuance of bonds, a Green Bond Committee has also been established that will ensure the follow-up of, and compliance with, the green framework.
A driving force for sustainable development Corporate social responsibility and sustainibility