Eika Gruppen signs the global principles for responsible banking

“Sustainability is not a new topic for Norwegian local banks,” says Eika group CEO Hege Toft Karlsen. “Ensuring economic and social sustainability in Norway’s local communities has been the main task of these institutions since they were established more than 150 years ago.

“This is in the DNA of both the local banks and our group. Several of our owner banks have already become signatories to the principles. Since we work to support the banks, it is very natural for us to follow up on this important initiative.

“The principles for responsible banking give us new tools for setting our agenda on sustainability in alignment with the objectives of the UN sustainable development goals and the 2015 Paris climate agreement.They challenge us to understand how our business affects the world around us, to be transparent about it, and to change for the better.”

Aurskog Sparebank is one of the member banks in the Eika Alliance which is already a signatory to the principles. CEO Evy Ann Hagen notes that, as a local bank, it ensures financial security, development and viable local communities now and in the future.

“By signing the UN's principles for responsible banking, we have committed ourselves to working systematically with sustainability and our impact on society through such aspects as our products and services for private individuals and corporate customers as well as the activities we support in the local community,” she says.

“We know that many of our customers, especially young people, as well as our owners, investors and employees, are concerned about sustainability. We congratulate the Eika group and are proud that we can now work together on shaping our contributions to a more sustainable world.”

UNEP FIprinciples for responsible banking:

1. Alignment We will align our business strategy to be consistent with and contribute to individuals’ needs and society’s goals, as expressed in the sustainable development goals, the Paris climate agreement and relevant national and regional frameworks.

2. Impact and target setting We will continuously increase our positive impacts while reducing the negative impacts on, and managing the risks to, people and the environment resulting from our activities, products and services. To this end, we will set and publish targets where we can have the most significant impacts.

3. Clients and customers We will work responsibly with our clients and our customers to encourage sustainable practices and enable economic activities that create shared prosperity for current and future generations.

4. Stakeholders We will proactively and responsibly consult, engage and partner with relevant stakeholders to achieve society’s goals.

5. Governance and culture We will implement our commitment to these principles through effective governance and a culture of responsible banking.

6. Transparency and accountability We will periodically review our individual and collective implementation of these principles and be transparent about and accountable for our positive and negative impacts and our contribution to society’s goals.