Sustainability targets and results

Financial inclusion

Enity Bank Group aims to enable economic empowerment for a broader population and serve as a model for responsible banking. We envision contributing to the expansion of financial inclusion in a society where more people can achieve their financial potential through the support of responsible and transparent banking services. Financial inclusion and responsible lending are at the core of our DNA.

Our commitment is to lead the way by integrating sustainability into everything we do and continuously improving as a mortgage lender to better serve customers, support employees, contribute to communities, and positively impact future generations. With an ambition to differentiate ourselves as the inclusive and responsible mortgage lender in the Nordic region, it is natural for us to be a member of UNEP FI and a signatory of the Principles for Responsible Banking.

Our sustainability efforts embrace the entire business. The strategic sustainability targets and KPIs are presented below. Through our sustainability strategy, we ensure a holistic perspective on our sustainability work. Our ambition is to be able to present clear targets linked to the majority of the KPIs in the table.

Results 2022-2023

1. Refers to the credit portfolio of mortgages (as of 31 Dec.) for the number of customers where permanent employment is not the primary source of income, with this year's number in parentheses. This includes customers whose primary source of income comes from self-employment, hourly work, project work, substitute work, temporary employment, and benefits (including student, unemployment, and disability benefits). Customers whose primary source of income is from fixed employment, pension (retirees), or other (including cases where the categorization of the primary source of income type is ambiguous) have been excluded from the KPI.
2. Refers to mortgages.
3. Refers to an average during the year (excluding Finland).
4. Refers to the credit portfolio of mortgages (as of 31 Dec.) for the number of customers who have taken out loans for the purchase of permanent housing, where the youngest borrower is under 30 years of age, and any co-borrower is not a parent, with this year's number in parentheses.
5. Refers to the credit portfolio of mortgages (as of 31 Dec.) for customers who had unsecured loans or credits that were settled in full or partly at the time of payment, with this year's number in parentheses.

ESG

ESG stands for environmental, social, and governance. In other words, our ESG goals describe our efforts to ensure we are a sustainable company that works to safeguard the environment, uphold our social values, and promote responsible governance. Our sustainability strategy ensures that our work in this area is characterised by a holistic approach. Read more about our ESG work here.

Results 2022-2023

 

How we contribute to achieving the Sustainable Development Goals

The sustainable development goals (SDGs) are part of the sustainability agenda adopted by most of the world’s countries and aim at achieving four things by 2030: to eradicate extreme poverty; to reduce inequalities and injustices in the world; to promote peace and justice; and to solve the climate crisis. The SDGs provide a framework for this to become reality. Our contribution to achieving this vision includes analyzing the 17 SDGs outlined in Agenda 2030 to identify where our business can make the most significant impact, allowing us to contribute to positive change. Following this analysis, the Board of Directors at Enity Bank Group have chosen to prioritize the four SDGs with the most relevance for impact that are crucial for the business.

 

SDG 5 | Gender Equality

Achieve gender equality and empower all women and girls. The overall goal is prioritized, but no specific targets are selected.

How we contribute
By measuring, raising awareness, and setting goals that actively steer towards increased gender equality.

Challenge
There are specific industry challenges that largely lie in inherited structural barriers.

 

SDG 8 | Decent Work and Economic Growth

Promote sustained, inclusive, and sustainable economic growth, full and productive employment, and decent work for all.

We have two focus targets (2 of 12) under this goal, defined as:
8.5 By 2030, achieve full and productive employment and decent work for all women and men, including young people and persons with disabilities, and equal pay for work of equal value.
8.10 Strengthen the capacity of domestic financial institutions to encourage and expand access to banking, insurance, and financial services for all.

How we contribute
By promoting the availability of mortgages and allowing more people the possibility of having an improved financial situation. Based on individual financial needs, we offer tailored solutions. We aim to help customers who for some reason have been denied mortgages or refinancing loans by traditional banks. We strive to give people the opportunity to break through segregation and also enable more people to relocate for work, supporting both individual dreams and societal needs. We work hard to ensure compliance with international guidelines and principles, and to promote inclusive, equal workplaces characterized by diversity.

Challenge
To ensure that our suppliers of products and services also comply with these principles and sustainability requirements.

 

SDG 10 | Reduced Inequalities

The basis for a sustainable society is a fair distribution of resources and economic, social, and political influence. The rallying cry of Agenda 2030, “Leave no one behind”, and SDG 10 together underscore the importance of promoting a society where no one is excluded from progress.

We have two focus targets (2 of 10) under this goal, defined as:
10.1 By 2030, progressively achieve and sustain income growth of the bottom 40% of the population at a rate higher than the national average.
10.2 By 2030, empower and promote the social, economic, and political inclusion of all, irrespective of age, sex, disability, race, ethnicity, origin, religion, or economic or other status.

How we contribute
Through our products and processes, we can make mortgages available to more people. The benefit is that more people get the chance to make their own choices about how they want to live, breaking unwanted segregation and enabling people to move for work. Research suggests that financial inclusion of more people, one of our core issues, helps toward building stronger communities. Financial inclusion can contribute to greater equality and increased economic growth. By continuing to develop and improve our products, we will help more people achieve a better financial situation and have the opportunity to get a mortgage. As a result, we can continue to deliver value to customers, society, employees, and owners.

Challenge
Regulation and market practice have generally made it more difficult for, or completely excluded, certain groups from accessing the mortgage market.

 

SDG 13 | Climate Action

Take urgent action to combat climate change and its impacts. The overall goal is prioritized, but no specific targets are selected.

How we contribute
By being a modern, digital mortgage bank without an office network, we strive to have as low a climate impact as possible in our own operations. We continuously drive and develop resource- and energy-saving products and ways of working that accelerate digitalization and contribute to climate-smarter lending.

Challenge
We are in a growth stage, with full focus on further growth to be able to help more people own their own home. The challenge is to reduce our climate impact as the company grows and the number of employees increases.