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Framework for responsible development

In relation to our customers, Nordea’s Code of Conduct is the central steering document for our financing operations together with our principles on ESG in financing, investing and advice in our sustainability policy.

Our principles guide our conduct in our daily work and when making business decisions. We take these principles and all other relevant environmental, social and governance principles into consideration when evaluating business risks and opportunities. We also expect our business partners and suppliers to adhere to these principles. 

The policy requires all fossil fuel companies to demonstrate that they have a decarbonisation strategy that is consistent with target of 2°C global warming or less. These companies are included on the Paris-Aligned Fossil Fuel list. Companies that are not on the list will be excluded from funds adhering to the policy. Download the  Nordea Asset Management Fossil Fuel Policy for Sustainable Funds here.

Nordea’s Code of Conduct

The Code of Conduct describes Nordea’s high-level ethical principles that guide our business, how we treat our customers, and the conduct we expect from our employees. It includes aspects such as care for the environment, labour rights, how we treat our customers, commitment to human rights, the right to privacy, and anti-bribery and corruption. 

The Code of Conduct applies to all employees and everybody working on behalf of Nordea, and is supported by specific and concrete policies to ensure compliance with everyday business.

Download the Code of Conduct

The Nordea Sustainability Policy sets out the principles for how Nordea ensures the long-term sustainability of its operations and, in so doing, strengthens long-term customer relationships and Nordea’s contribution to a greater good. The policy aims to support Nordea and its employees in their work and decision-making. Download our Sustainability Policy here.

With assets under management exceeding EUR 217 billion, Nordea has a tremendous responsibility to deliver good returns by supporting international norms and being a responsible investor. Because of this, we have developed policies, procedures and investment products to ensure that all our investee companies fulfil various criteria. We have also signed the UN Principles for Responsible Investment and are thus committed to integrating ESG factors into our investment analysis, decision-making processes and active ownership practices. Download our Responsible Investment Policy here.

The Nordea Supplier Code of Conduct outlines Nordea’s expectations of suppliers and is aligned with the Nordea Code of Conduct and the UN Global Compact. We expect our suppliers to not only abide by the laws and regulations of the countries in which they operate, but also work to move beyond compliance. By encouraging suppliers to share our standards and continuously collaborate on improvements, we believe that we can have a significant impact and at the same time mitigate risk. Download Supplier Code of Conduct Policy here.

Nordea’s policy is to pay taxes in accordance with local regulations in all our countries of operation and, in so doing, to make an appropriate contribution to each society. We manage tax costs and risks prudently, and by paying and reporting taxes in due time, we aim to maintain a good local tax reputation.

Download our Tax Policy here.
Download the extract from Tax Policy on Customer advice

Sets out Nordea Life & Pension’s overall responsible investment approach and principles and how these are integrated across the Nordea Life & Pension organisation. Download the  Nordea Life & Pension Responsible Investment Policy here.

Sets out Nordea Life & Pension’s positions, commitments and expectations in terms of climate change. Download the Nordea Life & Pension Climate Change Policy here.

Outlines Nordea Life & Pension’s active ownership principles, which include engagement and voting practices. Download the Nordea Life & Pension Engagement Policy here.

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Position statements and sector guidelines

Our position statements and sector guidelines provide guidance and principles in relation to different themes or sectors for dealing with both business opportunities and risk reduction. Nordea recognises potential negative environmental and social impacts and expects clients and investee companies to meet high standards in managing such risks. 

Our stated expectations describe what Nordea considers to be best practice, and should be seen as guidance for companies in areas where such issues are considered material.  
The guidelines also provide information on the requirements and thresholds that we apply to different sectors in addition to compliance with national laws and regulations.

Download our Position Statement on Climate Change here.

Download our Sector Guideline for the Gambling Industry Sector Guideline for the Gambling Industry here.

Download our Sector Guideline for the Mining Industry here.

Human rights as a sustainability issue are addressed in all parts of the organisation and due diligence processes. We have identified our most critical areas in terms of human rights as being within investing, financing, transactions and sourcing. We support the Universal Declaration on Human Rights and human rights are included in our Code of Conduct, Sustainability Policy, Responsible Investment Policy, Supplier Code of Conduct and in our sector guidelines as relevant for specific industries.
In 2019, we conducted an independent human rights assessment identifying a need to continue working on embedding human rights into these processes, which has been in focus in 2020. Read more in our Sustainability report.

Download our Position Statement on Tax here