DnB, founded in 1822,
is Norway’s largest financial services group. The Group consists of brands such as DnB, Vital, Nordlandsbanken, Cresco,
Postbanken, DnB NORD and Carlson. The group's activities are primarily focused on Norway; however, it is
one of the world's foremost shipping
banks and an international player in the energy sector.
ownership
listed on Oslo Stock Exchange
State-owned (34%) and Public shareholders
headquarters
Stranden 21
0021 Oslo
Norway
position top 1000 the Banker
In million US$. Ranking according to Tier 1 capital, as per definition Bank of International Settlements (BIS)
The CDP impels organisations to record their carbon footprint in daily activities. Encouraging enterprises to calculate and disclose their carbon impact, this initiative highlights the challenge for financial institutions to determine exactly how much carbon output can be attributed to financing.
Voluntary framework to guide the finance sector in tackling the challenge of climate change. They address the management of operational greenhouse gas (GHG) emissions and provide direction on managing climate change in research activities; asset management; retail banking; insurance & re-insurance; corporate banking; investment banking & markets; project finance.
The EPs are a set of guidelines, based upon the Performance Standards and guidelines from the IFC, the World Bank's private sector lending arm for private banks to asesses and mitigate risks in project finance. Banks use the Principles to guide internal operating procedures for transaction for specific projects. Although the EPs are an important step to raise overall standards of financiers and projects in the developing world, they currently fall short on transparency and governance requirements.
The verification and full publication of company payments and government revenues from oil, gas and mining is supported by the EITI. Financial institutions can participate and encourage resource-rich countries to support the initiative that aims to defeat poverty, corruption and conflict caused by weak transparency and accountability.
As the name suggests, the GRI aims to standardise good practice in transparency. GRI provides companies with guidelines to organise their annual report with reporting indices and standards addressing environmental, social and economic issues that business ought to address when telling the world about its performance.
The UN Global Compact is a set of ten principles that companies may sign voluntarily. Signatories promise to avoid complicity in human rights violations, adhere to labour standards, protect the environment and avoid corruption. The G8 countries urge companies to participate in this initiative, and with over 2900 companies signing up, the Global Compact has momentum. A voluntary and network based framework, the Global Compact actively promotes peer review and stakeholder participation.
UNEP is the 'voice of the environment' for the United Nations system, promoting international cooperation in the field of the environment. Issues concerning the financial community are addressed by the UNEP Finance Initiative which promotes investment in clean and renewable energy by financial institutions and other investors. Financial insititutions wishing to join must sign one of two Statements (for financial institutions and a separate one for the insurance industry).
UNPRI is a set of six principles direct institutional investors may adopt to consider environmental, social and corporate governance issues when investing. Voluntary and aspirational in nature, UNPRI has since its inception in 2006 attracted 200 signatories, representing US$8 trillion worth of investments.
Since the turn of the century a group of twelve banks known as the Wolfsberg Group have collaborated to improve ethical standards. The principles provide guidance on money laundering, corruption and the financing of terrorism. They have been produced to address deficiencies in areas 'yet to be fully articulated by lawmakers or regulators'.
DnB NOR's Group Policy on Corporate Social
Responsibility has very general statements, repeating amongst others the
UNGC Principles. As such, these policies are not accredited additional points
for the sector and issue policies that already received one point for the
bank's subscription of various initiatives.
Regarding other sectors or issues than the arms industry, the Ethical Investment Guidelines do
not contain commitments that are described in the essential elements and therefore
receive no additional points.
In the Group guidelines on Corporate Social
Responsibility - credit activities it becomes clear that DnB NOR
works with a diligence matrix, a tool for employees in assessing customers on
the basis of a number of relevant aspects to avoid violating DnB NOR's CSR
policy. The matrix is being updated, but the current version includes the use
of tools such as the Corruption Perceptions Index to define sectors and
countries that require heightened due diligence, especially with regard to
corruption. The bank also prevents its employees from paying or receiving gifts
or bribes, as is written in its Code of
Ethics. Thus, the bank's policies includes at least half of the essential
elements regarding corruption and is accredited 2 points. Regarding other
issues the criteria for investments are vaguely worded and do not include the
required essential elements.
agriculture
0
1
2
3
4
5
arms industry and trade
0
1
2
3
4
5
fisheries
0
1
2
3
4
5
forestry
0
1
2
3
4
5
mining
0
1
2
3
4
5
oil and gas
0
1
2
3
4
5
power generation
0
1
2
3
4
5
biodiversity
0
1
2
3
4
5
climate change
0
1
2
3
4
5
corruption
0
1
2
3
4
5
human rights
0
1
2
3
4
5
indigenous peoples
0
1
2
3
4
5
labour
0
1
2
3
4
5
operation in conflict zones
0
1
2
3
4
5
taxation
0
1
2
3
4
5
toxics
0
1
2
3
4
5
accountability
0
1
2
3
4
5
transparency
0
1
2
3
4
5
headquarters
Stranden 21
0021 Oslo
Norway
position top 1000 the Banker
In million US$. Ranking according to Tier 1 capital, as per definition Bank of International Settlements (BIS)
Liquified Natural Gas (LNG) is natural gas that has been chilled to liquid form, reducing it to one-six-hundredth of its original volume for transportation by ship to destinations…
