Stakeholders

This includes KBN’s customers, employees, owner, Board of Directors, the authorities, investors, rating agencies and society in general. KBN continually maps any new signals and expectations from our owner, changes in national and international laws and standards that affects best practice, and the development of norms and attitudes of significance to our stakeholders, with the objective of being at the forefront within prioritised areas of sustainability. 

In addition to engaging in continuous dialogue with our stakeholders, we regularly conduct materiality analyses to identify relevant sustainability topics, and these set the framework for our activities and reporting.

KBN carried out a materiality analysis in the autumn of 2022, as part of which key stakeholders provided input on KBN’s priorities for our sustainability work going forward. With regard to internal stakeholders, all KBN’s employees as well as our management team, Board of Directors and Supervisory Board were involved. With regard to external stakeholders, KBN conducted interviews with the Norwegian Association of Local and Regional Authorities (KS, local government sector interest group), Samfunnsbedriftene (an interest group for enterprises in the municipal sector, i.e. companies that are partly or wholly in public ownership), the Norwegian Climate Foundation (a climate interest group) and Citi (an investor). The objective of the materiality analysis was to define KBN’s most significant influence in respect of sustainability, and on the basis of this to ensure sound risk management, precise and reliable strategy and resource allocation, sound and relevant reporting and satisfactory compliance with rules and regulations. 

The analysis was carried out using the concept of double materiality, which means that the analysis considered both how KBN affects, and is affected by, society and the environment. This is consistent with best practice in sustainability reporting, and is consistent with the new EU directive on sustainability reporting, the Corporate Sustainability Reporting Directive (CSRD), which will come into effect in 2024.