A major Nordic bank aims to be a market leader in responsible banking. However, its management recognized that its existing approach to responsible banking risked being partly disconnected from its core banking business and the bank’s targets relating to transparency, being an attractive workplace and sustainable finance.
KPMG in Sweden helped the bank to develop a roadmap to implement responsible banking across all areas from credit risk reviews to procurement and its financial products and services.
KPMG began with a comprehensive engagement across various areas within the bank to assess the current maturity in each business area and to identify opportunities and challenges to achieve its ambition in responsible banking.
The roadmap has been successful in setting off changes within the bank, including the issuance of green bonds to finance discounted green mortgage loans for energy-efficient homes.
In addition, KPMG continues to work with the bank to implement the roadmap, including identifying ESG risks in the bank’s supplier base.
Tomas Otterström, KPMG in Finland and KPMG in Sweden