Handelsbanken

The financial institution assigns responsibility for implementing its sustainability strategy to various functions, teams, or committees and maintains a gender balance of 40-60% at the senior executive level. Additionally, the bank has a stewardship policy that supports environmental transitions and social best practices aligned with this strategy.

The institution provides examples of how its offerings support climate adaptation and resilience in society and monitors its scope 1-2 emissions. Handelsbanken discloses the monetary amount or share of its products, services, and capital linked to high-emitting and fossil fuel sectors, while also identifying key sectors, clients, and investees for climate engagement. Additionally, it reveals the aggregate monetary amount or share devoted to nature-positive solutions and engages in partnerships to influence sectors and clients regarding their nature-related impacts.

The Bank has identified its material impact topics on the basis of impact and consequence, with internal experts, including the Bank’s Chief Sustainability and Climate Office, were consulted in its identifications of topics and an assessment was done on the material topics negative and positive impacts on double materiality. However, the final prioritisation was concluded by the Bank internally, and there is no clear evidence that the assessed entity presents objective criteria for prioritization of impacts. Although it states no political donations are made, there is no commitment against using lobbying to influence sustainability negatively. Financed emissions from its real estate lending cover approximately 85% of total emissions, with recommendations to monitor additional scope 3 categories and clarify the footprint calculation methodology. In addition, the institution does not provide products or services to certain fossil fuel projects but does not address all fossil fuels. It has disclosed areas negatively impacting biodiversity but lacks a detailed breakdown of these impacts. The Human Rights Policy aims to mitigate negative impacts, but there is no evidence of including ILO fundamental rights in risk assessments. Recommendations also include processes for identifying social risks related to the net zero transition and providing examples of actions taken on salient human rights issues in recent years.

This scorecard refers to information in English which was publicly available by July 15 2024. AuM and Total assets are stated in USD for comparability and have been calculated based on reported local currency values multiplied by applicable IMF currency converter values.