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Sustainability work

Policies and reports

Through being business-minded, committed, and caring, Norion Bank wants to enable our customers to continue to grow and prosper. Together, we want to contribute to tomorrow and a sustainable development.

Sustainability framework 

Norion Bank specializes in financing solutions for businesses and individuals, with a particular focus on the needs of medium-sized businesses. We are the companies' complement to traditional big banks. As a bank, we have a great responsibility to contribute to a more sustainable economy for our customers and for the society in which we operate. We want to be a long-term partner to both companies and private individuals by running a business that in all parts creates a sustainable economic, social and environmental value. The sustainability work at Norion Bank is guided by our sustainability framework through policies, guidelines, and our code of conduct. Norion Bank also supports several international initiatives and believes that being transparent when reporting in this area provides value for our stakeholders. 

Norion Bank's overall ambition is to contribute in a measurable way to the UN's global goals for sustainable development by 2030, as well as reaching the Paris Agreement's goal of keeping global warming below 2 degrees. We want to increase our positive effects and reduce the negative ones from our financing activities. 

 

Three strategic focus areas

Our sustainability framework shows the bank's focus areas within sustainability. With goals linked to the focus areas, we can make progress that is in line with our sustainability strategy and vision of enabling tomorrow. Activities and goals are identified for the near term that will help us realize our long-term ambition. Over time, activities and goals will be updated and developed to gradually bring us closer to the 2030 goal.

 

Business-minded

Norion Bank wants to be an entity that enables a sustainable development for our customers as well as for the bank, through responsible financing. Taking climate, environmental and social aspects into account is not only important for our internal operations, but also a large part of our lending process. Being business-minded, we are a professional partner who stands for responsible financing and thereby enables sustainable development. 

 

Sustainability goals

  • Contribute annually to improving the financial health and preventing over-indebtedness of our private individual customers. 
  • Set targets for the green development of the credit portfolio in the Real Estate and Corporate segments in 2024.
  • In 2025, set Science Based Targets (SBT).

 

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Committed 

Norion Bank wants to be an attractive employer and strives for current and future employees to develop in a work environment characterized by good community, diversity, and inclusion. We work systematically with work environment and health issues and see it as an investment in achieving high satisfaction, motivation, and well-being amongst our employees. We create conditions for employees to feel ownership and responsibility in their roles and give them the necessary sustainability skills to build long-term success for both the bank and our customers. 

 

Sustainability goals

  • Achieve an annual eNPS of over 50 and continue to develop the skills of our employees in sustainability.
  • Investigate the feasibility of integrating ESG aspects into evaluation processes for relevant employee groups by 2024.
  • Be climate neutral by 2025 in terms of Norion Bank's own operations (Scope 1 & 2), which may include carbon offsetting if required.

 

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Caring 

Norion Bank wants to be a reliable partner throughout the entire value chain. With a structured and transparent way of working, we are a reliable partner who does business with care for our customers and employees. All our stakeholders, from investors, employees and customers to suppliers and partners, should feel confident that we conduct business with care for our surroundings. 

 

Sustainability goals

  • Comply annually with Norion Bank’s vision of zero complaints about customer integrity, anti-corruption, and marketing. 
  • In 2023, continue reviewing Norion Bank’s Scope 3 emissions, including for the credit portfolio. 
  • By 2025, be climate neutral in terms of Norion Bank’s own operations (Scope 1 & 2) which can include carbon offsetting if required.

 

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United Nations Global Compact

Our work is based on the UN Global Compact's 10 principles, which aim to in the long term contribute to an integrated environmental, social and business-ethical perspective throughout our business.

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Principles for Responsible Banking

As part of further integrating sustainability into our business operations, Norion bank has signed the UN initiative Principles for Responsible Banking.

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Norion Bank's contribution to the 2030 Agenda  

As part of the bank's commitment to support a responsible financial market, we have analyzed our contribution to the 2030 Agenda. In part, we contribute through our own operations, i.e. how we do business, this primarily by being an attractive employer, by working to reduce the bank's direct emissions, and by combating corruption. But the main impact Norion Bank has on the outside world is through the credit portfolio, i.e. what business we do. We have identified the four goals that our operations have the greatest impact on, in both positive and negative terms. 

Agenda 2030

Norion Bank has been certified as a Nasdaq ESG Transparency Partner. The certification is given to companies that demonstrate a high degree of market transparency in environmental, social and governance (ESG) issues. Nasdaq's ESG matrix contains data points from environmental, social, corporate governance and future sustainability goals that Norion Bank takes into account in its operations.