Reducing our operations’ impact

Globe in hands

Targeting operational improvements

Striving to reduce the environmental impact of our own operations is central to Nordea’s commitment to caring for the environment. Our Ecological Footprint Programme helps us achieve this.

The programme primarily addresses energy and air travel – our biggest impacts – with a secondary focus on paper, waste, buildings and procurement. We set long-term targets for improvement, including an absolute emissions reduction target of 18,000 tonnes of CO2 between 2008 and 2016. Each quarter, we monitor and report progress on our environmental indicators, and we report on emissions annually. 

Taking advantage of new technology

A major component of Nordea’s long-term strategy to reduce emissions is better use of, and investment in, new technology. In 2013, we built a new head office in Stockholm and undertook major renovations of other head offices. These buildings now use new or improved technology for heating, ventilation and lighting. We have also implemented free seating (hot-desking), which will enable us to reduce our head office floor area by over 20% by 2020.

Focus areaPurposeTargetStatusStatus
Energy managementReduce energy and water consumed in Nordea’s head offices and branches.Energy consumption in Nordic head offices and branches: -15% (kWh / FTE) 2008 – 2016.On track.KWh/FTE has decreased 11,5% from 2008. Total energy consumption (MWh) has decreased by 18,9% from 2008, but decreasing FTE figures have negatively impacted the kWh/FTE intensity figure. Total energy consumption and kWh/ FTE both decreased by 4% from 2013.
Internal paperReduce the amount of copy paper used in Nordic head offices and branches. Eliminate unnecessary print, increase use of doublesided print, introduce more electronic forms.Paper used in the Nordic head offices and branches: -50% (kg / FTE) 2008 – 2016Behind scheduleKg/FTE has decreased 23,3% from 2008. Total internal paper (kg) has decreased by 29,7% from 2008. New projects will contribute to future reductions.
Customer paperReduce the amount of paper that we send to our customers. Eliminate unnecessary print and offer electronic products and servicesPaper sent to Nordic customers: -50% (grams / customer) 2008 – 2016.Target reached in 2013The amount of paper sent to customers (grams/customer) was down 55 % from 2008 to 2014. There are planned and ongoing projects that will further reduce the customer paper.
Green ITMinimize Nordea’s environmental footprint through effective technology solutions. Reduce energy consumed by computer equipment.No official KPI's-Continuous focus on print solutions to reduce paper consumption. In addition, a pre-study was done to investigate ways to reduce emissions related to employees commuting to and from work.
CommunicationsTwo way communication with employees and other stakeholders. Provide transparent information, inspire to positive behavioral change and openness to new ideas.No official KPI's-Participated in Earth Hour 2014. Reported to CDP and communicated excellent scores. Published internal communication related to environmental improvments in new and renovated head offices (including LEED certifications), focus on good waste handlig and repeated calls to replace more air travel with online meetings.
Facility managementMinimize use of natural resources by reducing waste. Use eco labelled detergent in the cleaning of our offices. Increase amount of organic food served in our canteens.No official KPI. However, waste types and volumes are measured, analyzed and reported. We strive to reduce total waste volumes and increase % of waste that is reused or recycled.-Nordic waste volumes have decreased 12,8% from 2013. This is largely due to changes in Sweden, where waste related to renovations and vacating HQ buildings is excluded in the 2014 figures. We strive to have the waste data reflect waste from our normal operations to the extent possible. 58% of the waste is recycled or composted
ProcurementDevelop and implement a framework for including environmental (and other CSR) requirements in procurement processes and contracts.Environmental criteria included in all new contracts by 2016. All suppliers to comply with Nordea’s CSR principles. CSR reviews of selected suppliers.3 supplier CSR reviews conducted in 2014. Implemented qualifying CSR self-assessment questionnaire.
Travel & virtual collaborationReduce air travel by introducing alternative virtual collaboration tools and promoting behavioral change.Internal trips: -30% (number of noncustomer related trips / FTE) 2008 - 2016Trips/FTE in 2014 were only 2,1% higher than in baseline 2008. Total number of trips decreased by 11% from 2013 and 2014 is the first year since 2008 that we made fewer flights than in 2008. Decreases in FTEs since 2008 have negatively affected the trips / FTE intensity figure.

LEED-ing the way in environmental design

Our current Nordic head office buildings are certified to the international environmental standard Leadership in Energy and Environmental Design (LEED) and new head offices will be certified to the highest possible level. The environmental principles behind the certification process, focusing on areas such as energy efficiency, provide not just environmental but economic benefits as well.