Joining forces

UN Global Compact

UNGC was initiated by the UN to encourage businesses to align their strategies and operations with ten universal principles building on UN conventions in the fields of human rights, labour standards, environment and anti-corruption. Nordea became a signatory to the UN Global Compact in 2002, first through Nordea Bank Finland. From December 2004 the coverage was extended to the whole Group. 

Principles for Responsible banking

The Principles for Responsible Banking have been designed by a core group of 30 founding banks, of which Nordea is one, together with the UN Environment Programme’s Finance Initiative. The principles create a better and easier way for banks and financial institutions to align with society’s goals. This, in turn, helps the industry to demonstrate how it can be a change-maker to count on in society. 

 

UN Principles for Responsible Investments

As one of the first major banks in the Nordic countries, Nordea Asset Management signed PRI in 2007. The PRI is the world's leading proponent of responsible investment. It works to understand the investment implications of environmental, social and governance (ESG) factors and to support its international network of investor signatories in incorporating these factors into their investment and ownership decisions.

The Partnership for Carbon Accounting Financials (PCAF)

Nordea joined PCAF in 2020, a global partnership of financial institutions launched in 2015 to develop a harmonised approach to measure and disclose GHG emissions associated with loans and investments. A harmonised accounting approach provides financial institutions with guidance in developing risk management and regulatory compliance as well as a starting point required to align their portfolio with the Paris Agreement.

Net-Zero Asset Owner Alliance

Nordea Life & Pensions has joined the UN-convened initiative Net-Zero Asset Owner Alliance, committing to transitioning the investment portfolio to net-zero emissions by 2050. The alliance till develop models and frameworks to use as industry standards for measuring alignment with the target of keeping global warming under maximum 1.5°C increase.

Net-Zero Banking Alliance

To accelerate the transition of the global economy towards net-zero emissions by 2050, Nordea became a member of the Net-Zero Banking Alliance (NZBA) in 2021. The United Nations convened alliance represents over a quarter of all bank assets around the whole world (USD 46 trillion).

Net-Zero Asset Manager Initiative

The initiative was launched in Decem­ber 2020 and Nordea Asset Management was among the first to join, committing to support the goal of net zero emissions by 2050, in line with the global efforts to limit warming to 1.5ºC through our investments.

The Poseidon Principles

A framework for integrating climate considerations into lending decisions to promote international shipping’s decarbonisation. Nordea, together with 11 other leading banks, jointly representing approximately USD 100bn in shipping finance, have come together to commit to the Poseidon Principles.

Investor Alliance for Human Rights

Together with 207 other global investors, Nordea is putting pressure on companies to act responsibly on human rights. Nordea has been a partner of the Benchmark since January 2016. 

Finance for Biodiversity Pledge

The Finance for Biodiversity Pledge is a commitment of financial institutions to protect and restore biodiversity through their finance activities and investments. The Pledge consists of 5 steps financial institutions promise to take.

Applying the Equator Principles

Nordea adopted the Equator Principles (EP) in 2007. Our analysts and other relevant staff have been trained in Nordea’s internal EP process. Nordea follows the Equator Principles Manual (toolkit). The toolkit provides guidance on how to apply the EP in the day-to-day business.

UN-convened nature-related working group

Nordea has joined a new UN-convened biodiversity and nature-related target-setting working group. The new working group is part of the United Nations Environment Finance Initiative and is formed to help banks understand how they impact nature and can reverse losses. The working group consist of 34 signatories of the Principles for Responsible Banking (PRB).

Carbon Disclosure Project

Nordea is a signatory to the CDP, a project that aims to collect and share information on greenhouse gas emissions and climate change strategies. The CDP is a cooperation arrangement between 655 institutional investors with a combined asset holding of USD 78 trillion. We use the database information in our ESG analysis. We are also represented on the CDP Water Advisory Council.

Climate Action 100+

Nordea Asset Management has joined Climate Action 100+, a collaborative five-year global initiative led by investors to engage with the world’s largest corporate greenhouse gas emitters to improve governance on climate change, curb emissions and strengthen climate-related financial disclosures.

The Corporate Human Rights Benchmark

The first ever ranking of the world’s largest publicly listed companies on their human rights performance. The Corporate Human Rights Benchmark ranks the top 200 globally listed companies on their human rights policy, process and performance, harnessing the competitive nature of the markets to drive better human rights performance. Between 2016 and 2020, Nordea was a funding and steering committee member of the CHRB. The benchmark has now been integrat­ed with the World Benchmarking Alliance (WBA), but the work continues.

Institutional Investor Group on Climate Change

IIGCC provides investors with a collaborative platform to encourage public policies, investment practices, and corporate behaviour that address long-term risks and opportunities associated with climate change.

UN Environmental Programme Finance Initiative

Nordea signed the UNEP FI in 1994. It is a partnership between United Nations Environmental Programme and the global financial sector created in the wake of the 1992 Earth Summit with a mission to promote sustainable finance. More than 200 financial institutions, including banks, insurers, and investors, work with UNEP FI to understand today’s environmental, social and governance challenges, why they matter to finance, and how to actively participate in addressing them. Nordea has been part of the UNEP FI Banking Committee since 2017.

Diversity Project Europe

Nordea Asset Management (NAM) is proud to be a founding member of Diversity Project Europe along with 7 others European Asset Managers. NAM has committed to this cross-company project which focuses on achieving more diversity, equity and inclusion in the industry. With this, NAM aims to contribute to a meaningful change in the industry.

The Diversity Project Europe is a cross-border and cross-company initiative championing a truly diverse and inclusive European asset management industry with the right talent to deliver the best possible financial outcomes for our clients.