AnnualReport2021

Page 224

OPERATIONS

STATEMENT AND RESULTS

RESPONSIBILITY AND SUSTAINIBILITY

Climate and the environment As a financial services group, Sparebanken Møre has an active relationship with environmental and climate challenges. The Group’s overarching goal for its sustainability work is to ‘be a driving force for sustainable development’. The Group is committed to contributing to the transition work society needs to do to achieve Norway’s climate goals as set out in the Paris Agreement. Sparebanken Møre’s goal is to become a climate-compensated for group by the end of 2022, in line with the UN Climate Neutral Now initiative. We will also stipulate requirements for customers, suppliers and partners. This will allow us to help achieve the expressed climate goals, both directly and indirectly. In order to reduce environmental impact, we both use and invest in technology, including in order to reduce the need for travel. Employees must have the skills necessary to make eco-friendly choices and encourage our stakeholders to do the same.

The climate report for 2021 shows a 26.8 per cent reduction from 2020 to 2021, mainly due to Covid-19, less transport between the branches and some minor environmental measures. The Group’s emissions totalled 135.5 tonnes of CO2 equivalents (tCO2e) in 2021. Greenhouse gas emissions were distributed as follows in 2021:

Measures implemented in 2021

Distribution of greenhouse gas emissions in 2021

Sparebanken Møre prepares energy and climate accounts based on the international standard ‘A Corporate Accounting and Reporting Standard’ developed by the Greenhouse Gas Protocol Initiative (GHG Protocol). The climate report shows tonnes of CO2 that are direct and indirect emissions related to the Group, and provide information about greenhouse gas emissions from, for example, from travel, waste management and energy consumption. In 2021, the bank further reinforced its sustainability work and specific targets were established for cutting greenhouse gas emissions from its own operations. One important component of this work is becoming Eco-Lighthouse certified, a process we started at the end of 2021.

Scope 1, direct emissions:

In 2021, we reviewed the ESG analyses of our corporate market portfolio. This is an important tool for identifying and reducing climate risk in the existing portfolio, and for mapping which sectors and projects contribute to transition and new earning opportunities.

224

activities. At the end of 2021, 76 of our 122 agreements had included this principle in their agreements. We will follow this up with measures for improving understanding for clubs/organisations in 2022. One specific measure for sports teams is the support for granulate traps, see the more detailed description in the section on contributions to local communities.

2.2 %

Scope 2, indirect emissions:

66.4 %

Scope 3, other indirect emissions:

31.4 %

Sparebanken Møre continued upgrading and modernising branches and departments in 2021, with environmentally friendly material choices and reusing furniture in line with SDG 12 Responsible Consumption and Production and SDG 13 Climate Action being key factors.

Planned measures

We have incorporated sustainability principles into all of our sponsorship agreements and one of these is about having a conscious attitude and measures for cutting greenhouse gas emissions from sports clubs’

The bank’s climate accounts provide information about the impact of the various sources on the external environment. This provides a good, important starting point for preparing reduction plans. During the course of 2022, we will identify how we can cut our greenhouse gas emissions further and a concrete action plan will be drawn up in line with the requirements of Climate Neutral Now. We commenced a collaboration with Energiråd, which is assisting us in our work

Sparebanken Møre Annual report 2021

Material topics Corporate social responsibility and sustainibility