Nordea continues its work within the Net-Zero Banking Alliance and stands by the set climate targets

Today the Net-Zero Banking Alliance (NZBA) has announced that it has initiated a member vote to decide on a proposed transition from a membership-based alliance to establishing its guidance as a new initiative. Nordea remains committed to becoming a bank with net-zero emissions by 2050 at the latest and has robust and science-based interim targets in place. Our targets are set in accordance with the guidance and criteria from the Alliance, and we will continue supporting its future evolution.

Important role in providing guidance to banks’ net-zero transition 

The NZBA has been a pioneer in providing climate transition guidance and standards to the global banking sector and has provided valuable capacity building to support banks in their transition together with their customers. It has played an important role in supporting Nordea to set robust and science-based targets and further develop its climate strategy.

As a member of the Steering Group of the NZBA, Nordea has worked for, and will continue to work for, the Alliance to continue being an influential force in mobilising the global banking industry on climate leadership and providing ambitious standards, guidance and capacity building. The change now proposed by the Steering Group responds to an evolving global context which has  changed the preconditions for operating the Alliance in its current form. In the light of this, Nordea believes that the proposed change enables an opportunity to continue building on the Alliance’s guidance and maintaining its influence and global reach.