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Sustainable finance

Nordea ready with criteria for biodiversity financing

To expand our sustainable financing offering and advice we have recently updated our Green Funding Framework with more detailed information on how biodiversity projects can qualify for financing.

Blue cornflower in field

As approaches to climate risk and disclosure have matured, companies and investors are increasingly shifting their attention to other environmental impacts. An emerging theme is biodiversity, as it becomes more evident how dependent businesses and economies are on having sufficient natural resources and well-functioning ecosystems. 

At Nordea we have lately initiated a series of sustainability network meetings with our large corporate customers across the Nordics on the theme. Corporates are asking how to tackle risks and opportunities and also how to connect biodiversity to their sustainability targets. We are constantly looking into how we can expand our sustainable financing offering to accommodate our clients’ needs and support their transition, including this new dimension.  

Biodiversity and nature category expanded

To provide increased guidance and transparency, we have recently updated our Green Funding Framework, which outlines our criteria for capital markets financing, such as green, social, sustainable and sustainability-linked bonds and loans. The 2025 version now includes more information on financing projects beneficial for biodiversity and nature, along with the criteria for such projects.

Specifically, we have expanded the “Sustainable Management of Living Natural Resources and Land Use” category, one of the six categories in the framework. The framework now also encompasses: 

– Terrestrial and aquatic biodiversity conservation projects to create biodiversity credits

– Projects within restoration of degraded and damaged ecosystems and habitats

– Projects aimed at preservation and restoration of biodiversity and natural ecosystems 

“The expansion of our Green Funding Framework to include biodiversity projects marks a significant step in our commitment to sustainable finance. As businesses increasingly recognise the vital role of biodiversity in their long-term success, we’re proud to offer financing solutions that support both economic growth and ecosystem preservation,” says Jan Wärnbäck, senior environment expert in Group Sustainability.

What’s new in the Green Funding Framework?

The framework outlines how we identify, select, verify and report on the environmental projects directly or indirectly financed by the proceeds of our green funding. 

The most prominent change in the 2025 version is the more comprehensive section on “Sustainable Management of Living Natural Resources and Land Use” that now includes clear biodiversity project types. Examples of project types and criteria are:  

  • Biodiversity in conventional farming. We now have third-party certified conventional farming with mandatory biodiversity actions through the IP Sigill standard. This has significant potential to increase biodiversity in agriculture through verified measures. We’re expanding beyond organic production to acknowledge biodiversity measures in conventional farming.
     
  • Development of biodiversity credits. We now have special recognition for terrestrial and aquatic conservation projects that create biodiversity credits. This can potentially help build the biodiversity credit market by providing green financing to projects developing these credits. 
     
  • Biodiversity in shipping. The framework now includes several concrete project types that highlight potential for green financing in shipping and biodiversity-beneficial techniques, such as noise pollution reduction and dynamic route planning systems.  
     
  • Environmentally friendly pest management. The framework now acknowledges Integrated Pest Management (IPM) as a project type eligible for green loans. IPM is an effective and environmentally sensitive approach to pest management. The EU Farm to fork Strategy aims to reduce the use and risk of chemical pesticides by 50 percent by 2030, which IPM helps achieve.