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Nordea has been honoured with five awards in Global Finance’s sixth annual Sustainable Finance Awards, recognising the bank’s achievements in sustainable finance throughout 2025. 

The bank received recognition as:

  • Best Bank for Sustainable Finance in Denmark
  • Best Bank for Sustainable Finance in Finland
  • Best Bank for Sustainable Finance in Sweden
  • Best Bank for Sustainable Finance in Norway
  • Best Bank for Sustainability Transparency in Western Europe

Nordic resilience amid global headwinds

While global markets faced ESG headwinds and shifting sentiment during 2025, the Nordic region showed resilience in sustainable finance. 

“Global headwinds on ESG created some volatility in the sustainable finance market during 2025. However, these headwinds were mostly reflected in headlines rather than the underlying market sentiment,” explains Juho Maalahti, Head of Sustainable Finance Advisory at Nordea. “ We saw Nordic companies and institutions maintain their approach on sustainability despite the regulatory uncertainty.”

As a leading Nordic provider of sustainable financing to businesses, Nordea works alongside clients to assess their current position, identify opportunities and structure financing that supports their goals.

We saw Nordic companies and institutions maintain their approach on sustainability despite the regulatory uncertainty.

Juho Maalahti, Head of Sustainable Finance Advisory

Juho Maalahti, Nordea Sustainable Finance Advisory

Market evolution and future outlook

The fundamental need for transitioning to a more sustainable and resilient future remains strong. In 2026, we see a market where the real economy transition continues to advance on multiple fronts, from critical infrastructure to industrial decarbonisation investments.

Despite market volatility in 2025, green bonds continued to attract slightly higher order books compared to conventional bonds, especially in the EUR market, demonstrating robust investor appetite for sustainable assets. 

We’ve also observed consolidation in KPI-linked facilities over recent years, with companies moving towards harmonising their public non-financial report and financing arrangements, according to Maalahti.

“We see sustainability as a natural part of Nordic DNA, and many Nordic companies have a long history in sustainability, coupled with targets to reduce their climate emissions. This opens opportunities for us to help our clients in sustainable finance,” he says.

While regulatory uncertainty persisted in 2025, climate risks have not disappeared. Nordea has developed its own maturity ladder concept to evaluate customers’ climate transition plans, better understanding how clients are adapting their business models to the shift towards a low-carbon economy.

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Proven track record

Nordea previously set a target to facilitate more than EUR 200bn of sustainable financing by 2025, and we well exceeded that target, demonstrating strong market demand and the bank’s capability to deliver sustainable financing solutions at scale.

The latest awards underscore Nordea’s role as a trusted financial partner across the Nordic region’s sustainable finance landscape.

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