Turning climate ambition into action

For many companies, the climate transition is becoming a practical business question: how to move from targets to measurable action.

As a leading Nordic financial services group, we are focused on supporting our customers’ transition efforts and contributing to the climate objectives of the Nordic countries. We work closely with customers to understand their decarbonisation priorities, engaging in structured sustainability dialogues that offer tailored support at every stage of their journey towards a low carbon economy. 

We have set a target to engage annually with corporate customers (collectively representing at least 70% of financed emissions in the large corporate lending portfolio) on the topic of net-zero transition during the period 2026–30. Recognising that customers are at different stages in their transition, we adapt our offerings accordingly, focusing on developing capabilities and solutions that respond to the increasing need to finance the transition.

Morten Ristvedt, Head of Large Corporates & Institutions Norway, sees this reflected in customer conversations: “We see strong engagement from our customers in these discussions. Many welcome the opportunity to connect sustainability ambitions with business strategy, and they value having a partner that contributes with both insight and constructive challenge. As a relationship bank, we aim to support our customers not only today, but throughout their transition journey, growing and evolving together.” 

Central to these conversations is Nordea’s Climate Transition Maturity Ladder, a tool that helps build a clearer picture of where a customer is on its transition journey and where support may be needed next.

The framework looks at key elements of a transition plan, including emissions reporting, targets, implementation and governance. This creates a more informed and practical dialogue about progress and next steps.

A clearer path forward

The Maturity Ladder places customers across six maturity outcomes, from limited or no transition planning to plans aligned with the Paris Agreement and, ultimately, net zero achievement. This gives both a clearer sense of direction and a sharper focus on what comes next.

Because the approach is forward-looking, it keeps the conversation centred on practical progress, not just on where a customer stands today.

Not every customer starts from the same place. The aim is to support meaningful next steps through relevant dialogue, advice and financing solutions.

What the dialogue can help clarify

Ebba Ramel, Head of Sustainability Business Analysis, explains what this looks like in practice: “The Maturity Ladder has proven to be a valuable tool in our customer conversations because it translates climate commitments and disclosures into concrete and actionable steps. It helps companies understand what the bank looks for in climate transition plans, while also providing a framework for constructive discussions. These conversations are often a two-way exchange, where we not only share our perspectives, but also learn from how companies approach the transition and the opportunities and challenges they face.” 

The framework can help create a more concrete conversation about:

1. Where a company is today in its climate transition
2. Targets, commitments and emissions reporting
3. Actions and investments supporting implementation
4. Barriers and opportunities on the path forward
5. How Nordea can support with advice and financing solutions

For Laura Niinimäki, Relationship Manager in Business Banking Finland, the tool's strength lies in how it shapes day-to-day customer conversations:

“For me as a customer relationship manager, the Climate Transition Plan Maturity Ladder is a very clear and practical tool. It opens up a natural discussion about areas such as Scope 1, 2 and 3 emissions, where the company stands today, and what the next steps could be. The framework makes customer conversations structured, focused, and forward-looking. 

Customers can also reflect on their position compared with peers and consider what is needed to remain competitive in their sector. It can also help them understand where they stand in relation to their own customers and what they may need to focus on in future to remain resilient and desired.  As a banking partner, these insights allow us to explore how we can support customers in achieving their goals and strengthening the resilience and competitiveness of their businesses in a changing environment.” 

Find out more about how we are working to drive the sustainable transition.