Our own operations

Electric and plug-in hybrid company cars only

Company car policy has been updated to promote Nordea’s environmental responsibility and sustainability goals. The Group Leadership Team (GLT) and their direct reports (GLT-1) are required to select only electric vehicles (EV) with zero CO2 emissions. For the rest of the company car portfolio, Nordea will replace or terminate at end of lease to accelerate the transformation of the company car portfolio to electric mobility.

Reducing travel

Nordea has continued to manage air travel emissions via monthly reporting to leaders including senior management, internal campaigns to promote the travel policy including travelling primarily to customer-related activities, virtual meeting options and expectation to use the train when possible.

Changing from paper to digital

Nordea has systematically continued to replace physical letters with digital channels to increase customer satisfaction, to support Nordea’s sustainability targets and to improve cost efficiency. Nordea always uses cautious evaluation processes before sending out any physical letters, and the ambition stays firm to reduce physical letters.

Carbon offsets for emissions from internal operations

Nordea’s aim in the future is for all its removals to come from removal projects, with a preference on high-quality projects within the Nordic region. This will be reviewed periodically to gradually cover more and more of estimated GHG emissions until the year 2050 and on the path for achieving net-zero emissions. A first five-year project development contract for emission removals was developed with Inherit Carbon Solutions in 2024 covering a total minimum commitment of 68 428 tCO2e of technology-based high-permanence removal credits from Danish biogas with carbon capture and storage (BECCS) where the geological storage site is in the North Sea.

Supply chain alignment with net zero target

To achieve the supply chain target, Nordea has engaged with suppliers in high spend or high climate risk sectors to ensure they have relevant plans in place. The preparations started in 2024 to transition to an automated solution for assessing plans and tracking engagements to enable focusing Nordea’s efforts where they have the highest impact. Nordea’s expectations are that all large suppliers commit to being “net zero by 2050 at the latest” and having science-based climate transition plans in place by 2028.

Reduce waste generation from operations

All employee restaurants and cafes at head offices managed by ISS should obtain the Nordic Swan Ecolabel by end 2025. The certification process started late 2024. A part of the certification covers a structured approach to waste sorting, reduction of food waste and elimination of the use of disposable items.

Employees are able to volunteer

All Nordea employees are invited to volunteer 16 hours each year through Nordea’s community engagement programmes. Nordea offers employees face-to-face opportunities for volunteering as well as online and hybrid activities. In 2024, more than 1,800 Nordea employees volunteered with over 2,700 registrations in community engagement activities. This equates to approximately 10,600 hours of volunteering.

Sharing financial skills

Nordea runs three community engagement programmes focusing on building financial skills, fostering entrepreneurship and supporting refugees when settling into society and building financial resilience. Nordea activates these programmes through own initiatives as well as different collaborations, such as a wide range of partnerships and sponsorships. To deliver on Nordea’s community engagement programmes in 2024, Nordea has worked closely with about 70 local and national partners.

Raising fraud awareness

Nordea is committed to raising awareness about fraud as an essential part of protecting its customers and being a safe and trusted financial partner. Fraud awareness inherently involves engaging with customers as the purpose is to reduce the risk of fraud by promoting awareness. Awareness activities are conducted through different channels such as Nordea's website, social media channels and one-to-one customer meetings. In 2024, Nordea conducted around 360 customer awareness activities. 

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. 

Promote health

We recognise the importance of proactively fostering a healthy and safe work environment in dialogue with employees through structured collaboration. Assisted by regular reviews, designated services and tools, and accessible trainings we support all aspects of our people’s wellbeing. For example, Nordea offers Occupational Health & Safety (OH&S) training to all employees to increase understanding of how Nordea manages the health and safety of employees. The training is mandatory for all leaders, highlighting their responsibility to support employees’ health and wellbeing. Other trainings covering for example stress, wellbeing and ergonomics are accessible for all employees as well.

Employees are offered a comprehensive benefit package which includes for example proactive health examinations in line with local regulations, support for ergonomics, individual health coaching and mental health support or possibility to engage in recreational activities and events, some provided internally and some by external vendors.

Ensure a great working environment

To prevent the risk of failing to protect our employees’ wellbeing, our OH&S guideline and OH&S management system (following the ISO standards 45001 and 45003) including OH&S risk assessment, and OH&S risk taxonomy are guiding us in identifying and assessing OH&S risks. Supported by a range of measures such as our employee engagement survey People Pulse including Wellbeing and Working Conditions Indexes, Employee Experience Survey and physical risk assessments, we take actions to prevent health hazards and mitigate risks. Through this we aim to continuously improve our working environment to ensure the wellbeing of our employees. Nordea’s OH&S management system is reviewed once a year to secure that it is valid and fit for purpose.

In a structured manner we involve our employees, OH&S representatives, union members and Employee Resource Groups in dialogues about working conditions and how we can improve them. The safety of our employees in emergency situations is ensured through tested business continuity and crisis management processes.

Read more about our OH&S guideline OH&S management system in the 2024 Sustainability Statement.

Manage illness and workability

We recognise the importance of reactive measures to support our employees in times of need. We offer preventive and reactive occupational health care services to support our employees’ health and wellbeing. This is organised differently in each country due to local regulations and standards. We use both external suppliers and in-house specialists, such as doctors, nurses and physiotherapists. In case of decreased work ability, we address the situation early and make rehabilitation plans to ensure the employee’s safe return to work, partially or full-time, as soon as possible.