Climate Change Data

Environmental Metrics

ESG Focus Areas

• Employees, Diversity and Equal Opportunity
• Customer Privacy
• Anti-Corruption
• Responsible Credit Lending
• Social Responsibility and the Environment

Environmental Achievements

• Increased the share of digital mailings to reduce paper consumption (57% in 2019)
• Launched a gift card made of 60% calcium carbonate and 40% polypropylene in Sweden (planned launch in other Nordic countries in following years).

Social Achievements

• Resurs was named 2020 Career Company of the Year by Karrärföretagen.
• High internal mobility rate of 28% in 2019.
• Implemented the Resurs Women Potential Program, a mentorship program for young women.
• Allowed employees to devote some of their paid working hours to volunteer work.

Governance Achievements

• Established anti-corruption training for all employees.
• Updated the Code of Conduct to clarify the Group’s position on anti-discrimination, working conditions, and other human rights issues.
• Strengthened the financial capital target for the total capital ratio from 14% to more than 15%.

Climate Goals & Targets

Environmental Challenges

• The Norwegian market remained challenging due to new statutory requirements and the implementation of the Gjeldsregisteret debt information service.
• Elevated credit risk in the Norwegian market leading to an extra credit provision of SEK 35 million.

Mitigation Strategies

• Made an extra credit provision of SEK 35 million to respond to an expected temporary increase in credit losses in Norway.
• Worked to qualify the over-indebtedness in the Norwegian market.
• Developed a profitable offering that meets new rules and delivers customer and business value as the Norwegian market stabilizes.

Supply Chain Management

Climate-Related Risks & Opportunities

Reporting Standards

Frameworks Used: GRI, UN Global Compact

Certifications: ISO

UN Sustainable Development Goals

• Goal 3
• Goal 4
• Goal 5
• Goal 8
• Goal 10
• Goal 12

Resurs wants to contribute to a sustainable lifestyle and an inclusive society.

Sustainable Products & Innovation

• Calcium carbonate gift card

Awards & Recognition

• 2020 Career Company of the Year

Environmental Metrics

ESG Focus Areas

• Responsible credit lending
• Employees
• Diversity and Equal Opportunity
• Customer Privacy
• Anti-Corruption
• Social Responsibility
• Environment

Environmental Achievements

• Total CO2 emissions for business travel, hotel accommodation and company cars declined by 57.5 per cent compared with the previous year, primarily due to reduced travel in response to COVID-19.
• All (100 per cent) of the electricity purchased for the Swedish, Norwegian and Finnish offices came from renewable sources.

Social Achievements

• 92% of Resurs’s active employees had two performance reviews (goal was 100%).
• Employee overall perception of their work environment exceeded Winningtemp’s index (7.7 vs 7.4).
• Resurs was named 2021 Career Company of the Year for the second year in a row.
• 8 (57) employees volunteered (goal was >20).

Governance Achievements

• 95 per cent of Resurs’s employees completed online training on measures to combat money laundering and financing of terrorism (goal was 100%).
• 85 per cent of employees completed training in GDPR (goal was >90%).
• One case was reported via Resurs’s whistle-blower function in 2020. The case was closed since there was no description of what occurred.

Climate Goals & Targets

Environmental Challenges

• COVID-19 pandemic impacted operations and social responsibility initiatives.
• Reduction in staff by about 70 positions in the Nordic operation due to organizational restructuring.
• Climate risk – Resurs’s direct impact.
• Climate risk due to changed laws, demand, customer behavior, or other structural changes.

Mitigation Strategies

• Activated crisis management team and continuity plan; encouraged working from home.
• Introduced a more restrictive credit assessment to reduce risks associated with new lending.
• Offered customized payment plans to customers.
• Sustainability policy, guidelines for business travel, purchasing, and electricity consumption.
• Sustainable Finance project to map and analyze physical and transition risks.

Supply Chain Management

Responsible Procurement

• Code of Conduct Suppliers (from 2021)

Climate-Related Risks & Opportunities

Reporting Standards

Frameworks Used: GRI Standards at Core level, UN Global Compact

UN Sustainable Development Goals

• Goal 3
• Goal 4
• Goal 5
• Goal 8
• Goal 10
• Goal 12

Resurs contributes to these goals through its operations, including responsible credit lending, employee well-being, diversity initiatives, and community engagement.

Awards & Recognition

• Career Company of the Year (2021)
• Newcomer of the year in Employer Branding at the 2020 Universum Awards

Environmental Metrics

ESG Focus Areas

• Ethical and responsible business
• Sustainable credit lending
• Environment
• Social responsibility
• Sustainable employees

Environmental Achievements

• Reduced climate impact by 20% compared with 2020
• 68% of mailings were digital

Social Achievements

• Launched Resurs Society, pooling investments for sustainable development
• New partnership with Ung Företagsamhet in Sweden, Norway, and Denmark to support entrepreneurship among young people
• Collected more than SEK 100,000 for the Swedish Cancer Society

Governance Achievements

• 97% of employees completed GDPR training
• 90% completed Code of Conduct training
• 94% completed anti-money laundering and financing of terrorism training
• No cases reported via whistle-blower function

Climate Goals & Targets

Environmental Challenges

• Insufficient repayment capacity of some customers
• Contribution to increased indebtedness in society
• Pandemic impact on volunteer work
• Maintaining customer privacy with new cloud-based platform
• Evolving regulations (GDPR, EU taxonomy, 6th Money Laundering Directive)

Mitigation Strategies

• Improved models for assessing customers’ repayment capacity
• Educational initiatives to help customers make wise financial decisions
• Dedicated debt collection teams
• Analysis of customer's future payment ability
• Risk assessments and controls for new banking platform
• Employee training on data protection and regulations
• Proactive risk and incident management

Supply Chain Management

Responsible Procurement

• Improved purchasing process to strengthen quality and control
• Code of Conduct for Suppliers

Climate-Related Risks & Opportunities

Transition Risks

• Changed laws, demand for products and services, customer behavior, transition to climate-neutral economy

Opportunities

• Partnerships offering climate-smart solutions (solar cells, EV charging, heat pumps)

Reporting Standards

Frameworks Used: GRI Standards Core level, UN Global Compact

UN Sustainable Development Goals

• Goal 3
• Goal 4
• Goal 5
• Goal 8
• Goal 10
• Goal 12
• Goal 16

See pages 48-51 and 55-56 for details on how initiatives contribute to these goals.

Awards & Recognition

• Ranked top listed niche bank on Aktuell Hållbarhet's list of Sustainable companies

Environmental Metrics

ESG Focus Areas

• Ethical and Responsible Business
• Sustainable Credit Lending
• Environment
• Social Responsibility
• Sustainable Employees

Environmental Achievements

• Reduced climate impact by 30% compared with 2020
• Share of digital mailings increased to 73%
• Developed Resurs’s first environmental policy
• Launched Green Loans

Social Achievements

• Launched My Economy – an online training course on sustainable personal finances
• Launched Resurs Society in all four Nordic countries
• Raised SEK 600,000 for Rosa Bandet (Swedish Cancer Society)
• Donated to UNHCR supporting Ukrainian children and families
• Supported Pride
• Resurs Friends sponsored 15 local associations and organizations

Governance Achievements

• Became a signatory of the UN Principles for Responsible Banking
• Completed a materiality analysis
• 95% of employees completed Code of Conduct training
• 97% completed anti-money laundering training
• 94% completed GDPR training

Climate Goals & Targets

Environmental Challenges

• Insufficient repayment capacity of some customers
• Climate change impacts on operations and brand reputation
• Unfair salary allocation and diversity shortcomings
• Social conditions risks (working conditions, safety, discrimination)
• Operational information security risks and IT system shortcomings
• Suspected money laundering and other forms of corruption

Mitigation Strategies

• Improved customer repayment capacity assessment models
• New climate policy with a 50% reduction target by 2030, emissions offsetting
• Remuneration policy, salary guidelines, plan for active measures to combat discrimination
• Guidelines for diversity and equal treatment, whistle-blower function, risk database
• Data security under GDPR legislation, proactive risk database, compliance and risk control function
• Three lines of defense model, Financial Crime Prevention unit, training

Supply Chain Management

Responsible Procurement

• Improved purchasing process, compliance with Norwegian Transparency Act, Code of Conduct for Suppliers

Climate-Related Risks & Opportunities

Transition Risks

• Changes in legislation, demand for products and services, customer behavior, structural changes to a climate-neutral economy

Opportunities

• Green Loans for climate-positive investments

Reporting Standards

Frameworks Used: GRI Standards Core level

Third-party Assurance: Limited assurance by Ernst & Young AB

UN Sustainable Development Goals

• Goal 5: Gender equality
• Goal 8: Decent work and economic growth
• Goal 10: Reduced inequalities
• Goal 12: Responsible consumption and production
• Goal 13: Climate action
• Goal 16: Peace, justice and strong institutions

Resurs's initiatives contribute to these goals through responsible credit lending, sustainable operations, diversity and inclusion programs, and anti-corruption measures.

Sustainable Products & Innovation

• Green Loans

Awards & Recognition

• Career Company of the Year (four years in a row)

Environmental Metrics

ESG Focus Areas

• Ethical and responsible business
• Sustainable credit lending
• Environment
• Social responsibility
• Sustainable employees

Environmental Achievements

• Reduced climate impact by 8% compared with 2020 (base year)
• 119.5 tonnes of CO2e savings from recycled hardware
• Share of digital mailings: 76%
• Climate compensation for all measured emissions during 2023
• Launch of Resurskollen (tool for identifying smart energy solutions for homes)

Social Achievements

• Launched MyEconomy (interactive e-learning focusing on everyday finances) in all Nordic countries
• 48% of all managers are women
• Career Company of the Year for the fifth year in a row
• 17 employees volunteered
• Resurs supports Betalningshjälpen (educational initiative for digital everyday finances)

Governance Achievements

• 98% of employees completed training on GDPR
• 92% completed training on the Code of Conduct
• 98% completed training on anti-money laundering and financing of terrorism
• Sustainability training for the Board of Directors and Group Management
• Nasdaq ESG Transparency Partner

Climate Goals & Targets

Environmental Challenges

• Turbulent macroeconomic situation leading to increased credit loss provisions
• Quality defects and delayed deliveries in core banking system replacement project
• Increased market competition
• Deteriorating economic conditions with high inflation and rapidly rising interest rates

Mitigation Strategies

• Implemented tightening measures to increase the quality of new lending
• Impairment of capitalised IT investments and provision for restructuring costs
• Securitisation of NPL portfolios
• Optimized pricing and improved internal processes
• Strategic partnership with Lowell for securitisation of defaulted loans
• Launched efficiency initiatives to centralise operations

Supply Chain Management

Responsible Procurement

• Code of Conduct Suppliers

Climate-Related Risks & Opportunities

Opportunities

• Development of energy-efficient products

Reporting Standards

Frameworks Used: GRI, UN Global Compact

UN Sustainable Development Goals

• Goal 8
• Goal 10
• Goal 5
• Goal 12
• Goal 13
• Goal 16

Resurs aligns its sustainability efforts with these goals through initiatives related to decent work, reduced inequalities, gender equality, responsible consumption and production, climate action, and peace, justice and strong institutions.

Sustainable Products & Innovation

• Resurskollen

Awards & Recognition

• Career Company of the Year