Our own operations

Electric and plug-in hybrid company cars only

In 2020 we introduced a new company car policy which means that from 2021 onwards we have only allowed electric and plug-in hybrid company cars. This has been well received by our employees, with plug-in hybrids accounting for approximately 2/3 and electric 1/3 of all new company cars.

Reducing travel

We can now rely much more on digital meetings, which means that we will not return to pre-pandemic travel levels. In addition to reducing travel overall, the updated travel guidelines also require us to travel more by train to further reduce our carbon footprint.

Changing from paper to digital

Nordea has been replacing physical letters with customer-friendly digital solutions through our Paperless Banking Programme. Between 2017 and 2022 the programme has digitalised approximately 60% of all customer letters, which means fewer carbon emissions connected with distribution.

Carbon offsets for emissions from internal operations

Despite our best efforts to limit our internal carbon footprint, some emissions still remain difficult to reduce. For these, we purchase carbon offsets to reduce equiva­lent emissions elsewhere. We supported the generation of renewable energy through the purchase of carbon credits for 2022. We will continue to fully offset the residual emissions from our internal operations. Going forward, we will be shifting to a long-term carbon removal portfolio, which we will periodically review to align with evolving best practices for achieving net-zero emissions.

Mindful energy consumption

In 2022 we decreased our energy consumption by 11% compared with 2021. Over 70% of our large head offices are LEED or BREEAM certified to ensure energy efficiency. One of the drivers of our internal carbon footprint is the data centres and technology used to run the business. Although the data volume remained at the same level, our data center consolidation strategy had a significant impact with CO2 emissions being reduced by 9% compared with our 2019 baseline.

A more sustainable workplace

We are also working towards making our workplace more sustainable. For example by offering more vegetarian options and serving local and seasonal produce as much as possible. We aim to inspire our employees to reduce their own carbon footprint. To this end, we rolled out an e-learning programme to educate our people on sustainabil­ity themes, offering recycling solutions together with external partners, as well as an IT accessories recycling programme, making it easy and attractive for our people to significantly reduce their own e-waste.

Employees are able to volunteer

Nordea employees can spend two paid working days per year volunteering. In 2022 over 2,000 Nordea employees delivered over 7,900 hours of vol­unteering.

Sharing financial skills with youth

Every year Nordea employees have the opportunity to visit schools, where they are invited to teach financial skills. Read more about this on the different country pages.

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Supporting Ukraine

In 2022 we gave donations to UNICEF and the Red Cross to support their relief efforts in Ukraine and impacted coun­tries. We waived all transaction fees for household and busi­ness customers’ donations to charities engaged in emergency response actions. In addition, we organised employee collections of essential items to people in need and launched a new volunteering programme to support refu­gees with over 650 Nordea employees volunteering.

We govern our work

Sound corporate governance means ensuring that companies are run sustainably, responsibly and as efficiently as possible on behalf of their shareholders. By fostering a purpose-led culture with a robust operating model, we can enable speed and scale in the transition to a resilient economy while at the same time reducing sustainability-related risks.

Gender balance in all parts of the organ­isation

One example of our work with responsible banking is gender balance at the workplace. We strive for gender balance in all parts of the organ­isation, including at the total workforce level and at each leadership level. In all cases, no gender should be represented by less than 40% of employees. 

Our way of doing it

We promote and support both the physical, mental, social and financial wellbeing of our people. Our approach is both proactive and preventative using tools and ongoing dialogue with our people about their working conditions.​

Our Occupational Health and Safety (OHS) policy, which is reviewed annually and endorsed by the senior leadership, is applicable to all employees and complies with the relevant legislation in our operating counties. 

A structured risk process

We frequently assess and report on OHS risks. Identified risks are followed up through a structured process with reporting to, and oversight from senior leadership. Mitigating actions are planned by the responsible unit, involving OHS representatives, when required. The safety of our employees in emergency situations is ensured through tested business continuity and crisis management processes.

Giving training and supporting with the right tools 

By increasing awareness and knowledge we promote health, ensure a great working environment and manage illness, supporting a sustainable workplace. OHS training is mandatory for all leaders, this training and several other topic-specific trainings on e.g., wellbeing, are accessible for all employees through our e-learning platform. Our structured support model includes services and tools covering many different needs to support all aspects of our people’s wellbeing.