SEB has published its Annual and Sustainability Report for 2023, which includes financial statements, the Report of the Directors and the corporate governance report. In the Sustainability Report, SEB provides an update on the development of the ambitions and goals that SEB has set within the climate area.
In the Annual and Sustainability Report,
"It was a year characterised by major developments in the surrounding world, both geopolitically and economically, and this affected the environment in which our customers operate. As a bank, we have to meet our customers' needs amid strong market competition, while also fulfilling the expectations of our shareholders, the authorities, politicians and other stakeholders. Employees and management have looked after the bank well given the difficult conditions," says
"Despite the challenges in the economy, including double-digit inflation in the first half of the year, rapid interest rate increases and the cost of living hurting households and businesses, the financial markets showed strength. The banking sector has been able to stabilise the economy during this weak period. SEB is in a solid position, with a strong capitalisation and robust asset quality, and we have been able to continue to support our customers," says Johan Torgeby.
Sustainability Report
The Sustainability Report includes an update on the development regarding the ambitions and goals SEB has set within the climate area to reach a net zero credit portfolio by 2050 at the latest.
The Carbon Exposure Index is a goal to reduce the fossil fuel credit exposure in SEB's energy portfolio by 45-60 per cent by 2030 compared with a 2019 baseline. At year-end 2023, SEB's fossil fuel credit exposure had decreased by 39 per cent since the end of 2019. The Sustainability Activity Index measures the ambition to increase sustainability activity within four areas by 6-8 times by 2030 compared with a 2021 baseline. At year-end 2023, the index had increased by 123 per cent.
As part of SEB's commitment within the
The Annual and Sustainability Report for 2023, as well as other annual reports for 2023, are available at sebgroup.com/annualreport.
This disclosure contains information that SEB is obliged to make public pursuant to the Swedish Securities Markets Act (2007:528). The information was submitted for publication, through the agency of the contact person, on
For further information, contact:
+46 70 462 2111
pawel.wyszynski@seb.se
+46 70 763 8243
niklas.x.magnusson@seb.se
SEB is a leading northern European financial services group with international reach. We exist to positively shape the future with responsible advice and capital, today and for generations to come. By partnering with our customers, we want to be a leading catalyst in the transition to a more sustainable world. In
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