Preface It won’t happen overnight We take our responsibility seriously at Sydbank. We see a need to come together to take care of what we have and to ensure a sustainable future for the next generations. Both where we are and in the world around us there is a growing momentum to act responsibly. That’s why we have decided to take action now – and to do it properly. Given Sydbank’s customer mix and business model we will make the biggest difference by integrating ESG principles in the Bank’s credit rating model. Integrating ESG issues in the rating of customers is difficult and takes time to accomplish. But it’s also the right thing to do. Taking corporate social responsibility as a bank is not choosing the easy solution – but the right solution. At Sydbank we have chosen to divide our actions into four main paths, all encompassing a number of activities, some of which are highlighted here. Firstly we are very thorough when it comes to ensuring sound and reliable reporting. This report is subject to external auditing to ensure that all essential elements are included and that our reporting is validated. We have taken into consideration the UN’s sustainable development goals and we have started calculating our CO2 emissions according to the internationally recognised GHG Protocol. Secondly we have launched a whole host of initiatives under the heading ‘every little helps’. We have just started installing our own solar cell park, which will produce power for the head office and we are phasing out plastic in the areas where it makes sense. New initiatives are continuously being added, some of which are based on suggestions by Sydbank’s employees. In the last and just as important path we involve local communities in the debate about sustainability. One thing in particular is a common theme in our dialogue with customers and that is doubt. They want to do something for the environment but are unsure of what will have the desired effect. They have many questions. And so do we. This is why we have decided to organise a number of events in 2020 where we will invite customers and experts to a discussion about what sustainability means for each of us and for us as a financial undertaking. In this report you can read much more about what we do at Sydbank to take our social responsibility seriously. The third path is about ensuring that corporate social responsibility is embedded in the very core of our business. At Sydbank we can make the biggest difference within investments and lending. By taking action here we will contribute substantially to creating a financially stable society. This means for one thing that all Sydbank’s investments and customers’ investment opportunities comply with ESG principles. We made a commitment to comply with the UN’s principles for responsible investment 10 years ago but in terms of lending this area is relatively undescribed. There are however guidelines and recommendations, most recently from Finance Denmark’s Forum for Sustainable Finance, where a number of recommendations concern lending. Karen Frøsig CEO 4 SYDBANK / CSR 2019
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