Policies & sector guidelines
We take principles into consideration when evaluating business risks and opportunities. We expect our business partners and suppliers to adhere to these principles too.
Read moreThe list with the general definitions used across our Thematic and Sector frameworks:
| Business partner | Legal persons or investees subject to a business relationship as defined below. |
| Business relationship | A contractual commercial and ownership relationship with a legal person or ownership via financial instruments covering services such as facilitation, investments, lending or procurement. |
| Double materiality | Nordea’s method for identifying sustainability matters, considering both (a) Nordea’s potential negative or positive impacts through its own operations and value chain and (b) ESG issues that can create financial risks and opportunities for Nordea. |
| ESG Factors | Environmental, social or governance characteristics that, as opportunity and risk drivers:
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| Facilitation | Capital market activities where Nordea acts as a sole or joint arranger of primary debt or equity issuance in the public capital market. |
| Investment | All investments, excluding the trading book held by Nordea Markets and exceptions specified in or decided as part of the implementation in Nordea Asset Management’s Responsible Investment Policy, Nordea Life & Pension’s Responsible Investment Policy, and Nordea’s Responsible Investment Product Distribution Policy. |
| Lending | Contractual agreements resulting in credit risk exposure for Nordea through on- balance sheet exposure, including any amount of principal, accrued interest and yield fees owed by the obligor to Nordea. |
| Negative impact | A negative ESG impact is a harmful effect on people and/or the environment that is current and observable or reasonably foreseeable, caused or contributed to by Nordea’s own activities or through its business relationships. |
| Nordea | Nordea Group, including Nordea Bank Abp and all its subsidiaries. |
| Procurement | The full lifecycle including; sourcing, contracting, use of purchasing channels, invoicing and payment and the operations of the procurement object. |
Thematic and Sector Framework definitions
| Thematic guidelines | Framework document describing Nordea’s cross-sector position and strategic focus for one or more ESG factors. The thematic guidelines describe Nordea’s position and set general expectations on Nordea’s business relationships in scope of the guideline. |
| Sector guidelines | Framework document describing Nordea’s position on a specific industry sector. The sector guidelines reflect restrictions and requirements and sets expectations to mitigate Nordea’s ESG related risks and negative impact on ESG factors from Nordea’s business relationships in scope of the guideline. |
| Restrictions | Set the boundaries for Nordea's business relationships, specifying activities that Nordea seeks to limit exposure towards. |
| Requirements | Set the boundaries for Nordea’s business relationships specifying activities where Nordea seeks to manage impacts and risks taking into account materiality, proportionality and other measures to mitigate impacts and risks. |
| Expectations | Set non-binding statements outlining good practices for Nordea’s business relationships, which may support engagement dialogues that can mitigate material risks and impacts. |
| ESG vulnerable sectors | Sectors assessed as having elevated vulnerability to ESG‑related impacts and risks, based on Nordea’s double materiality assessment, strategic priorities and risk appetite.
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| Value chain | In the context of the Thematic and Sector Framework, the value chain consists of Nordea’s direct business relationships as defined in the General Definitions above. |
See all frameworks here