As a result of the review, a number of tools, guidelines and steps were developed to assure relevant sustainability requirements and facilitate follow-up of supplier performance. Here is a brief description of some of them.

  • Supply Chain Management Process. A process for integration of sustainability issues in existing purchasing process has been developed and implementation has been initiated.
  • General Risk Assessment of Current Suppliers. Current supplier portfolio has been assessed to identify risk suppliers. The assessments are based on general sector- and country risks in the areas of human rights, labour rights, environment and corruption. Those identified as risk suppliers will be followed up through self assessments and/or audits.
  • Sector Guidelines for the Swedish and Baltic Markets. Sector guidelines with information about sector risks, recommendations and information about each sector’s sustainability labels have been developed based on each market. The sector guidelines are to be used as a tool for purchasing officers in their daily work.
  • Code of Conduct. A new supplier code of conduct has been developed. The Code is both a part of binding contracts between Swedbank and suppliers and a tool for Swedbank’s Code of Conduct audits.
  • Self-Assessment Questionnaire. An SAQ has been developed to assure relevant questions, based on the Code of Conduct, to suppliers in both the service industry and in producing companies.
  • Follow-up. Risk suppliers will be required to answer the self-assessment questionnaire on a regular basis. Based on the results from the questionnaire, the next step will be determined. In the case of confirmation of a deviation from the requirements of the code of conduct, a joint agreement on corrective actions for improvement shall be found. Swedbank intends to assist suppliers in improving their performance, in the case of an identified deviation, through development and monitoring of appropriate actions plans. If no measures to assure relevant improvements are working, the contract may be terminated.