Nordea sets target to become a net zero emissions bank by 2050

Press releases | 04-02-2021 06:45

Nordea has updated its plan to fully integrate sustainability into its business strategy with a long-term objective to become a net zero emissions bank by 2050 at the latest. Nordea wants to make a difference together with customers and enable them to make sustainable choices contributing to society through climate action and social impact.

Nordea’s ambition is to become a bank with net zero emissions by 2050 at the latest. To reach this goal, Nordea has set a mid-term objective to reduce carbon emissions from its lending and investment portfolios by 40-50% by 2030. Nordea will also reduce its internal carbon emissions by at least 50% and achieve net positive carbon contribution by 2030. The baseline measurement for the objectives is 2019.

“We will deliver on our targets by supporting and working together with our customers towards sustainable development and ensure that we have a plan for sectors where the climate impact is significant”, says President and Group CEO Frank Vang-Jensen.

As a leading Nordic universal bank, Nordea plays a vital role in encouraging and inspiring the transition to a climate neutral economy, with a major impact from its lending and investments activities.

Sustainability is embedded across Nordea’s business strategy, backed by measurable targets, strong governance and one of the broadest sustainability customer offerings in the market.

Supporting customers in sustainable transition

Nordea has committed to aligning its business strategy to be consistent with the goals listed in the Sustainable Development Goals and the Paris Climate Agreement. Furthermore, Nordea is equally committed to supporting its customers to reach these goals.

“We believe in being an active bank and a driving force in the transition towards a sustainable economy. Increasing demand for sustainability-linked products and services is good for society and for our business. We want to make a difference for a greater good – not only for ourselves, but for the future and for generations to come”, says Frank Vang-Jensen.

For further information:

Anders Langworth, Head of Group Sustainability, +46 72-2155434

Group Communications, +358 104 168 023 or press [at] nordea.com

Nordea is a leading Nordic universal bank. We are helping our customers realise their dreams and aspirations – and we have done that for 200 years. We want to make a real difference for our customers and the communities where we operate – by being a strong and personal financial partner. The Nordea share is listed on the Nasdaq Helsinki, Nasdaq Copenhagen and Nasdaq Stockholm exchanges. Read more about us on nordea.com.

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