Nordea best bank in the Nordic CDP report

2011.10.24Nordea received a joint fourth place in the Carbon Disclosure Project’s (CDP) report released 21 October and was the best bank in the Nordics.

"We are pleased that Nordea’s efforts to integrate CSR with business are recognised yet humble realising the opportunities that remain to be utilised by us and our customers," says Liisa Jauri, head of CSR at Nordea.  

CDP facts show that participating companies’ investments in low carbon products or emission reductions pay off relatively quickly, max three years. Further the argument frequently heard that European companies and Northern European in particular are at a disadvantage due to stricter regulations is proven false since the low carbon innovations prove to be money makers.

Even though direct emissions are relatively low in the finance sector, companies are beginning to favour low-carbon alternatives by asserting their influence as investors and lenders. Some banks are offering preferential terms for eco-friendly car loans, while others are screening their managed assets and persuading poor environmental performers to improve.

The CDP works on behalf of 550 investors with assets of USD71 trillion, one being Nordea Investment Management, by requesting disclosure on the largest companies’ approach to the threats and opportunities of carbon emissions. CDP's surveys are extensive and cover all aspects of business. It is not one single aspect but the aggregated work that renders a high score. Most Nordic peers participate in this survey.