Sustainable banking

Helping small businesses take the first step on their climate transition journey

Climate transition is crucial for businesses of all sizes, but for small businesses, getting started can be daunting. At Nordea, we support small and medium sized enterprises to future-proof their business through customer dialogues and our collaboration with SME Climate Hub providing the tools and knowledge needed to turn ambitions into climate action.

Senior businessman holding tablet

Small businesses often struggle with limited resources and less mature sustainability practices. As a result, calculating and reporting emissions, setting emission targets, and creating credible climate transition plans can seem out of reach. That's why we at Nordea have made it a priority to support small and medium-sized enterprises (SMEs) in navigating their climate transition.

Nina Arkilahti, Head of Business Banking.

Nina Arkilahti, Head of Business Banking at Nordea, explains: 

“Small companies are typically good at building their business and driving growth, but finding the time, resources and knowledge for climate transition planning can be difficult." 

"With clear plans integrated into their business strategy, they are better equipped to meet growing expectations from customers, investors and regulators, and can expand safely and sustainably. It's about future-proofing the business and gaining a competitive advantage, and we are here to support our customers in reaching their ambitions."

Practical tools through SME Climate Hub

Our collaboration with SME Climate Hub is a key part of this support. SME Climate Hub is a global non-profit initiative that empowers small and medium-sized enterprises (<500 employees) to take climate action. Through the Hub, businesses get free access to resources such as greenhouse gas (GHG) emission calculators, climate reporting tools, online trainings and actionable support material.

SMEs can join SME Climate Hub for free and get full access to all tools. SME Climate Hub also offers a unique opportunity for SMEs to join the United Nations Race to Zero campaign and officially commit to net-zero by 2050. This commitment can be communicated to customers, investors and other stakeholders using their official badge.

Although SMEs are not yet required by regulation to calculate their carbon footprint, many are starting to face increasing demands for climate reporting from their supply chains and partners. By getting ahead now, they can strengthen their position and show leadership in their industry.

Louise Rehbinder, Director at the Exponential Roadmap Initiative which is a co-founder of the SME Climate Hub.

Emission calculators 

SME Climate Hub offers three different emission calculators, supporting everything from single site companies with few employees up to multi-site companies with up to 500 employees. The latest addition to the calculators was launched in April. 

“We’re excited to introduce this option tailored for small businesses taking their first steps in tracking emissions, empowering them to take control and initiate climate action,” says Louise Rehbinder, Director at the Exponential Roadmap Initiative which is a co-founder of the SME Climate Hub..

This new tool simplifies emission calculation and, when combined with the Hub’s other tools and supportive material, gives SMEs a practical and accessible way to start their climate transition journey.

Three different tools to support all sizes and company types

Small Business Carbon Calculator

A simple, accessible calculator, for small businesses starting their carbon measurement journey. Designed to help make sense of carbon measurement and identify emissions hotspots.

Learn more

Advanced Business Carbon Calculator

A comprehensive, transparent and auditable calculator, ideal for medium and large businesses, with the flexibility to incorporate data from multiple sites. This provides enhanced carbon measurement to accelerate progress towards Net Zero.

Learn more

Scope 3 Specific Calculator

An intuitive platform that transforms simple procurement data into accurate, quality-checked Scope 3 emissions data, enabling accurate reporting and decarbonization decisions to lower your biggest emission hotspots.

Learn more
Mark Frisbæk, Nordea Business Banking Sustainability Lead.

We’re here to help

“We will continue our close collaboration with SME Climate Hub to ensure that our customers have access to the latest tools and resources to successfully decarbonise their businesses. This aligns with Nordea’s long-term commitment to sustainable banking and strengthens our role as a strong business partner to our customers,” says Mark Frisbæk, Nordea Business Banking Sustainability Lead.

With over two million SMEs making up more than 90% of all businesses in the Nordic region*, we know that supporting smaller businesses is key to drive positive change. Together, we can turn climate ambition into meaningful action -  one step at a time.

*Source: The Nordic Co-operation

 

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