Our sustainability targets

To achieve this and to be an even more sustainable bank than we are today, we have fully integrated sustainability into our business strategy. Our focus will be on the sustainability topics in which we can have a significant impact – and setting targets and objectives in line with that.

Our significant sustainability topics were identified through a combined materiality and impact analysis and then grouped into four strategic pillars: climate action, social responsibility, governance and culture and financial strength.

2050 long-term objective

2030 mid-term objective

2023-2025 targets

Climate action

  • Facilitate more than EUR 200bn in sustainable financing by the end of 2025.
     
  • Ensure that 90% of our exposure to large corporate customers in climate-vulnerable sectors to be covered by transition plans by the end of 2025.
     
  • By 2025, ensure that 80% of the top 200 emitters in Nordea Asset Management’s portfolios are either aligned with the Paris Agreement or else are subject to active engagement to become aligned.
     
  • Double the share of net-zero-committed AuM by 2025.
     
  • Grow gross inflows from the Sustainable Choice universe to account for 33% of total fund gross inflows by the end of 2025.
     
  • Reduce the carbon footprint from Nordea Life & Pension’s listed equity, corporate bond and real estate portfolios by at least 25% by the end of 2024.
     
  • All asset managers* managing assets on behalf of Nordea Life & Pension must commit, no later than 2024, to transition their assets under management to net-zero by 2050.
     
  • Total carbon reduction from internal operations of 30% compared to 2019 by the end of 2023.
     
  • All relevant requests for proposal among suppliers to have requirements that are aligned with the Paris Agreement to achieve a carbon reduction in the supply chain by the end of 2023.

*All managers in liquid asset classes and selected managers in illiquid asset classes.

Social responsibility

  • Each gender has at least 40% representation at the top three leadership levels* combined by the end of 2025.
     
  • With a minimum average index score of 92, respondents** feel they have been treated fairly regardless of gender, gender identity, age, ethnicity, sexual orientation, religious affiliation, (dis)ability, etc. by the end of 2023.
     
  • All investee companies in funds managed by Nordea Asset Management assessed against the minimum safeguards in the area of human rights (in line with the EU taxonomy) by the end of 2023.
     
  • Human rights impact assessment of the supply chain in place by the end of 2023.

*Group Leadership Team (GLT), GLT-1 and GLT-2

**To Nordea's employee engagement survey.

Governance and culture

  • 100% of new suppliers screened for sustainability issues by end of 2023.
     
  • Integrate sustainability into people processes covering purpose and values, employee value proposition and variable pay goals by the end of 2023.

Financial strength

  • Risk management framework for ESG risks in place by the end of 2023.
     
  • Risk assessments in place for the sectors and customers most vulnerable to climate risk by the end of 2023.