The Global Finance awards acknowledge the financial institutions that have “initiated, maintained and grown their sustainable finance offerings and financing throughout 2022,” according to the publisher’s press release. Criteria for evaluation included governance policies and goals, as well as measurable achievements in environmental and social sustainability financing, focusing on activities in 2022.
Nordea’s sustainability ambitions are evident in our targets. We were not just the first Nordic bank to set 2030 emission reduction targets, but also one of very few banks to set one covering the entire portfolio. This sets us apart from peers who have chosen to focus on sector targets.
“We have made significant progress already. LC&I has already cut emissions in its lending book by more than 35%. Nordea has also set ambitious targets for Shipping, Oil & Gas, Offshore, Mining and Residential Real Estate,” says Anne S. Ulriksen, Head of ESG in LC&I.
A EUR 200 billion sustainable financing goal
Sustainability is at the core of Nordea’s strategy as we aim to be the Nordic leader in sustainable products and services. We have set the target of facilitating EUR 200 billion in sustainable financing, across bonds and loans, between 2022 and 2025. We’re on track to meet that target, having facilitated EUR 58 billion in sustainable financing in 2022 alone.
Nordea ranked first for Nordic sustainable bonds overall in 2022 and was the #1 arranger of Nordic sustainable loans.
Last year, Nordea also launched the Sustainability-linked Loan Funding Framework, an innovative new bond format that allows investors to support corporate borrowers that have set ambitious sustainability goals as part of their financing.