Commitments and policies

Hand in pen

Our core CSR policies are found in our Code of Conduct and the Nordea Sustainability Policy. 

The Code of Conduct describes the ethical principles that guide our business, how we treat our customers, and the behaviours we expect from our employees. The Nordea Sustainability Policy spells out the Grou p’s values and commitments to ethical business. Both apply to all employees and all who work on behalf of Nordea.

The main policies and international commitments are supported by specific and concrete policies to ensure compliance in everyday business. Examples are the human resources policies, the anti-corruption policies, and several investment and credit policies.

Read a summary for sustainability in our credit process (pdf, 287 KB)  (in swedish only)


Nordea Code of Conduct

Our Code of Conduct outlines the ethical principles for how we do business in Nordea, how we treat our customers and the behavior we expect from our employees.
The ten principles of the United Nations’ Global Compact and the relevant legal requirements provide the basis of the Code.  

Download the Nordea Code of Conduct (pdf, 298 KB)

Nordea Sustainability Policy

Our sustainability principles guide our own behaviour 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 expect our business partners and suppliers also to adhere to these principles.

We are committed to:

  • good corporate citizenship
  • human rights and freedom
  • equal opportunities
  • caring for the well-being of our employees
  • ethics, honesty and sincerity
  • caring for the environment

Nordea Sustainability Policy (pdf, 4 MB)

Position Statements

Nordea Climate Change Position Statement  

On November 30th 2017 we launched our position statement on climate change. This position statement sets out the scope and principles of Nordea’s climate change agenda. In this we take into account the nature of our business, where investments, credits and purchases can have both local and global impact. 

Nordea Climate Change Position Paper (pdf, 99 KB)

Other internal policies and guidelines


We have signed up to a number of important international treaties that help guide us and live up to our overriding commitments. In addition to the conventions in the table below, Nordea follows the United Nations’ Universal Declaration of Human Rights, ILO-conventions and the OECD Guidelines for Multinational Enterprises in our operations and business.

The Responsible Ship Recycling Standards (RSRS)

RSRS voluntary principles for financial institutions active in ship financing. The RSRS aim to promote responsible ship recycling and to minimise the dangers associated with hazardous materials on board. The standards form guiding principles in the dialogue about responsible ship recycling between the financial sector and the stakeholders in the shipping industry.

Nordea Responsible Ship Recycling Standards (pdf, 49 KB)



Implementation in Nordea

United Nations Environment Programme Finance Initiative 


The UNEP FI is a global partnership between UNEP and the financial sector. Institutions, including banks, insurers and fund managers, work with UNEP to understand the impacts of environmental and social considerations on financial performance.

Nordea signed the UNEP FI in 2001


  • guides us in how to take environmental and social considerations into account in our own operations and business decisions, especially in lending 
  • is one of the commitments forming the basis for the Nordea Sustainability Policy

UN Global Compact 


The UN Global Compact is a strategic policy initiative for businesses that are committed to aligning their operations and strategies with ten universally accepted principles in the areas of human rights, labour, environment and anti-corruption. By doing so, businesses can help ensure that markets, commerce, technology and finance advance in ways that benefit economies and societies everywhere.

Nordea signed the UNGC in 2002 


  • guides us in how to take environmental, social and governance considerations into account in our own operations and business decisions, especially in lending 
  • forms the basis of Nordea’s Code of Conduct 
  • is one of the commitments forming the basis for the Nordea Sustainability Policy 
  • forms the basis for our requirements towards suppliers expressed in Nordea’s Supplier Guidelines

Equator Principles 


The Equator Principles is a credit risk management framework for determining, assessing and managing environmental and social risk in project finance transactions. Project finance is often used to fund the development and construction of major infrastructure and industrial projects.

Nordea signed the EP in 2007


  • is used in project financing and have been incorporated into Nordea EP Manual that is utilized in preparing the cases, the decision-making process and training 
  • is one of the commitments forming the basis for the Nordea Sustainability Policy

Principles for Responsible Investment 


The UN-backed Principles for Responsible Investment is an initiative in partnership with UNEP FI and UNGC. PRI consist of six principles and reflects the view that environmental, social and corporate governance (ESG) issues can affect the performance of investment portfolios and therefore must be given appropriate consideration by investors.

Nordea signed the PRI in 2007


  • is the basis for Nordea’s responsible investment strategy
  • is one of the commitments forming the basis for the Nordea Sustainability Policy

Nordea memberships

International forums

  • IIF - Institute of International Finance
  • IBC - The International Banking Cicle
  • ICMA - International Capital Market Association
  • GFMA - Global Financial Markets Association

European forums

  • EFR - European Financial Roundtable
  • EBG - European Banking Group
  • IIEB - Institute International d'Études Bancaires
  • AFME - Association for Financial Markets in Europe 
  • CFO Network Forum
  • CEPS – Centre for European Policy Studies
  • European Payments Council (EPC)
  • European SWIFT Alliance

Banking Associations

  • European Banking Federation
  • Swedish Bankers' Association
  • Federation of Finnish Financial Services (FFI)
  • Finance Norway
  • Danish Bankers' Association

Securities Dealers Associations

  • Norwegian, Swedish and Danish Securities Dealer's Associations

Asset Management

  • European Fund and Asset Management Association
  • FEAM - Forum for European Asset Managers
  • Swedish Investment Fund Association (Fondbolagens förening)
  • Norwegian Fund and Asset Management Association
  • Danish Investment Association
  • Finnish Fund & Asset Management Association
  • Association of professional Fund Investors (AFPI)