Supply chain sustainability
Sustainability is integrated into all aspects of how Nordea conducts business, including our supply chain.
Sustainable procurement
Nordea has established a Supplier Code of Conduct which is mandatory for all our contracted suppliers. It requires our suppliers to adhere to the core principles of the UN Global Compact within the areas of human rights, labour standards, environment and anti-corruption. It is not enough that our suppliers comply with the laws and regulations in the countries where they operate; we expect them to proactively move beyond compliance and convey Nordea’s Supplier Code of Conduct or similar principles towards their sub-suppliers.
Supplier engagement is essential to advancing sustainability performance
Nordea applies a risk-based approach to its supply chain. We focus our efforts where they have the greatest impact, recognizing that supplier segmentation and engagement is an ongoing process.
Before contracting all potential suppliers are pre-screened on a number of parameters such as country risk, sector risk, reputational risk, climate risk, financial crime risk as well as compliance with sanctions. Following the pre-screening, all high-risk suppliers are assessed using a sustainability questionnaire, which determines whether additional engagement is required. Engagement on sustainability matters continues during the contract period, all suppliers are also subject to continuous monitoring.
Each year we select a number of suppliers for a sustainability review. During such a review, we deep-dive into topical areas, such as circularity, human rights impact assessments or decarbonisation targets, to ensure that the suppliers proactively manage their risks and impacts.
Download our Supplier Code of Conduct to read more
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Sustainability at Nordea
It is about making a difference together with our customers by enabling them to make sustainable choices, contributing to society’s goals through climate action and social impact.
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Risk governance
Managing ESG-related risks is key to maintaining our financial strength. Here, we explain how we integrate sustainability considerations into our risk governance.
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Our organisation
We strive to meet your specific needs, regardless of you’re a personal, a corporate or institutional customer. Through our four business areas, we offer you expertise across a full range of products and services.
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