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Sustainable transition

Nordic businesses express firm commitment to climate transition

A new survey from Nordea shows that Nordic businesses continue to express firm commitment to climate transition. Our Business Banking Customer Sustainability Survey – conducted across Denmark, Finland, Norway and Sweden – identifies three key findings that highlight the maturity and determination of Nordic businesses’ approach to sustainability transformation.

solar-panels-on-large-building

The survey’s key insight is that 92% of the respondents across all segments and countries report that their focus on climate transition has either remained stable or increased over the past year. This remarkable consistency underscores that Nordic businesses view sustainability not as an optional extra, but as fundamental to long-term competitiveness and resilience. 

Nina Arkilahti, Head of Business Banking.

”The survey reveals a shift in how Nordic businesses approach climate transition,” says Nina Arkilahti, Head of Business Banking. ”Our customers understand that sustainability isn’t just about doing the right thing – it’s about securing their competitive position and unlocking new growth opportunities in a rapidly evolving market landscape.”

The data shows that over one-third of businesses have actually increased their climate focus, while 79% report tangible progress in their transition efforts – a 4% improvement from 2023.

Market-driven transformation

The second key insight is that meeting customer demand, improving brand value and capturing new business opportunities remain the top three drivers for climate transition. These motivations have remained remarkably consistent since 2021, demonstrating their fundamental importance to business strategy across economic cycles. 

The customer-driven nature of this transformation is particularly significant, as it indicates that sustainability has become embedded in business-to-consumer (B2C) and business-to-business (B2B) relationships and procurement decisions throughout the Nordic region. This market-led approach suggests that climate initiatives are aligned with commercial realities and revenue generation.

“The survey results highlight the collaborative nature of the transition. Businesses are increasingly recognising that transformation requires partnership across the value chain – from suppliers and customers to financial partners who can provide the expertise and capital needed to accelerate progress,” explains Nina Arkilahti.

Strategic focus on energy solutions

The third key finding shows that assessing energy consumption, renewable energy coverage and electrification of vehicles and machinery are customers' most important climate transition activities. This focus remains consistent across all business segments and countries, with these same three activities representing areas where customers report the greatest progress.

Veronica Norholl, Head of Business Banking Sustainability.

Veronica Norholl, Head of Business Banking Sustainability, explains: 

”The convergence around energy-focused initiatives reflects the dual approach Nordic businesses are taking to climate transition. These activities deliver immediate operational benefits – often including cost reductions – while contributing meaningfully to emission reductions. It’s a perfect example of how sustainability and profitability can work hand in hand.”

 

Supporting sustainable growth

As the Nordic region’s leading bank, Nordea remains committed to supporting businesses on their sustainability journeys through comprehensive financing solutions, expert advisory services and innovative products designed to accelerate the transition to a low-carbon economy. Learn more about getting started as a customer in: 

About the survey

The Business Banking Customer Sustainability Survey is a Nordic study that helps us understand how Nordea can support small and medium-sized companies in their sustainability transition journey. The aim of the survey is to: 

  • Assess our customers’ current position in their sustainability transition journey, its impact on their business, and the level of resources they dedicate to it.
  • Identify the key drivers behind their climate transition efforts.
  • Assess the perceived importance of specific climate transition activities.
  • Identify perceived support and financing needs for their climate transition activities.
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