Corporate social responsibility

In accordance with the legislative framework, Finansiel Stabilitet is required to contribute to ensuring financial stability in Denmark. This objective is achieved in part by preventive measures, including the establishment of a resolution fund, preparation of resolution plans and identification of any obstacles, and in part specifically by restructuring and resolving failing banks. In periods of financial turmoil, continued access to significant critical infrastructure is secured when Finansiel Stabilitet can take over failing banks and it is in the interest of the general public. In addition, crisis management is organised based on the principle that the risk of losses to taxpayers is to be minimised.

In crisis management, another focus area is securing the highest possible value of assets taken over, thus minimising losses incurred by creditors and owners, and contributing to ensuring financial stability in a broader context. Stability in a broader context is ensured in terms of winding up by Finansiel Stabilitet adapting the disposal of activities to prevailing market conditions.

Moreover, Finansiel Stabilitet aims for business with the Group’s customers taken over from failing banks to continue under the auspices of other banks to the extent possible or under the auspices of purchasers who are obliged to manage the customers in accordance with the Executive Order on good business practice for financial undertakings.

Moreover, when Finansiel Stabilitet takes over failing banks, it is on the existing customer terms and conditions, and the main focus is on ensuring appropriate continuation of activities and subsequent resolution. Accordingly, other social considerations in the handling of customer relationships are not a focus area in the same way as for other banks.  

Finansiel Stabilitet furthermore has a tax policy that sets out the framework for its conduct in relation to the sale of tax assets of subsidiaries. Finansiel Stabilitet is required, in the interests of any creditors or other stakeholders, to consider the value of any tax assets in connection with the resolution of failing institutions. At the same time, focus is on ensuring expedient handling from a social perspective.

Finansiel Stabilitet and its subsidiaries live up to their responsibility as employers, business partners and consumers of natural resources. The approach is based on its activities being conducted in a manner that will minimise any negative environmental, social, human rights and anti-corruption impacts.

Finansiel Stabilitet has defined its principles in a CSR policy. As part of its corporate social responsibility work, Finansiel Stabilitet will comply with recognised standards.

Finansiel Stabilitet wants to contribute to a good and challenging working life for the employees during their employment. Finansiel Stabilitet’s corporate culture is based on open, proper and equal dialogue with emphasis on measures of individual freedom under accountability and common sense. At the same time, Finansiel Stabilitet focuses on continuous skills enhancement for its employees in the form of courses and other relevant supplementary training.

Finansiel Stabilitet has combined the guidelines in a code of conduct, which is available on Finansiel Stabilitet’s website. These guidelines provide clarity as to Finansiel Stabilitet’s position on independence, conflicts of interest, etc.

The number of employees is adjusted on an ongoing basis to fit the scope of work. In 2023, Finansiel Stabilitet had an average of 43 employees.

Finansiel Stabilitet strives to achieve relevant diversity in terms of e.g. age and gender at the Group’s management levels. Against this background, Finansiel Stabilitet has adopted a policy on diversity and balanced gender composition on the Group’s boards of directors and other management levels. This policy is available on Finansiel Stabilitet’s website.

In terms of gender composition, the ambition is for either gender to hold at least 40% of the seats on the boards of directors. Of Finansiel Stabilitet’s seven board members, three are women and four are men.

Of the three board members of the subsidiaries Broinstitut I A/S, Broinstitut II A/S, FS Finans III A/S, FS Finans IV A/S, FS Finans V A/S and FS Finans VI A/S, the gender composition is one woman and two men. Of the five board members of the subsidiary FS Ejendomsselskab A/S, the gender composition is three women and two men. Accordingly, Finansiel Stabilitet meets its target for boards of directors.

The Company also aims to ensure an appropriate gender composition at the Group’s other management levels. The Group’s employees should feel that they have the same career opportunities and opportunities to be considered for management positions, regardless of gender. The gender composition of Finansiel Stabilitet’s general management is two female and three male members. Finansiel Stabilitet thus meets its gender composition target for the general management.

Finansiel Stabilitet is focused on gender composition in connection with its employment and recruitment procedures.

The Company is focused on using suppliers who comply with applicable and relevant standards in the specific area. This applies e.g. to the property area in connection with completion of properties and projects taken over by Finansiel Stabilitet from failing banks or on enforcement of collateral. Finansiel Stabilitet will use labour clauses in new building and construction contracts irrespective of the contract amount in order to ensure that work is performed in accordance with Danish remuneration and employment terms.

Regardless of the relatively limited effect, Finansiel Stabilitet continually seeks to limit environmental and climate impacts in the performance of its activities. As the primary objective of Finansiel Stabilitet is the resolution of activities, Finansiel Stabilitet will not be able to safeguard the same incentive management considerations expected of other banks. Finansiel Stabilitet nonetheless makes efforts to measure environmental impacts and define targets for the Company’s own operations.

In performing its activities, Finansiel Stabilitet seeks to support a high level of data ethics. Finansiel Stabilitet does not actively process data or use algorithms for data analyses in excess of what is to be expected in the conduct of the Company’s central tasks. In order to ensure transparency and reliability in terms of data processing, Finansiel Stabilitet has drawn up a data ethics policy, which reflects the relatively simple use of data in the Company.