SPAREBANKEN VEST The internationally recognized sustainability rating agencyMSCI has upgradedSparebanken Vest to aAAA rating for its sustainability work.Sparebanken Vest is the only Norwegian bank to date that has achieved this top rating, placing the bank's environmental, social and governance (ESG) work among the top two per cent of banks in the world. Following a comprehensive analysis, the international analytics companyMSCI has upgradedSparebanken Vest from AA to a top rating ofAAA .MSCI is one of the most recognised international analytics agencies performing evaluation and categorisation of companies' work in sustainability. In its rating opinion,MSCI highlightsSparebanken Vest's strong corporate governance and focus on green financing, among other things, as leading the field when measured against comparable banks and financial institutions. 'We are at the forefront of developingWestern Norway as a leading region in sustainability, and our goal is forSparebanken Vest to achieve net zero emissions by 2040. Over several years, we have implemented numerous measures to move our operations, value chain, and lending portfolio in a green direction. Among other things,Sparebanken Vest has pushed for our Norwegian suppliers to become climate neutral. Sustainability is a competitive advantage and is integrated into the very core of our financing and risk management activities,' says Jan Erik Kjerpeseth, CEO ofSparebanken Vest .Sparebanken Vest established its first industry-specific sustainability targets for the corporate lending portfolio in 2020, and these targets have also recently been adjusted to reflect and fall in line with the EU Taxonomy. Corresponding targets have also been established for the entire lending portfolio, and for saving and investments in the retail market segment. In the summer of 2020, the bank issued its first green bond, which was considerably over-subscribed. Since then, the bank has issued several more green bonds on favourable terms that have resulted in a much broader investor base. 'We have ambitious targets for all areas of the bank's activities and will be taking further steps in the coming months, including strengthening our data collection work,' says Kjerpeseth. For further information, please contact: Jan Erik Kjerpeseth, CEO, tel.: (+47) 951 98 430.Frank Johannesen , CFO, tlf.: (+47) 952 65 971.Hans Olav Ingdal , Head of Finance and IR, tlf.: (+47) 948 09 328. Åsne Ådland Dale, Head of Sustainability, tel.: (+47) 971 40 244.Sparebanken Vest is the third largest savings bank inNorway , with more than 600 committed and highly skilled employees. Since the bank was founded in 1823, we have gained a position of trust among customers inWestern Norway that has resulted in a solid market position and 33 branch offices in the counties of Vestland and Rogaland. Through our associated companies,Sparebanken Vest provides a complete range of financial services to our retail and corporate customers. We are proud to be an independent financial services group with our head office inBergen, Norway , allowing us to play a key role in much of the value creation that takes place inWestern Norway .
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