Circular economy on the rise

19-03-20 15:53 | Responsible business

On March 20, Nordea and SB Insights published a study on circular economy (pdf, 7 MB), a concept that turned out to be relatively unknown to many. In Sweden, Norway and Denmark over 50% of those asked claimed never to have heard of it, while only 16% of the Finnish were unfamiliar with the concept. Awareness of circular economy has, however, been on a steady rise in all Nordic countries from 2017 to 2019 and the trend to recycle and buy second hand fashion and goods appears to be here to stay. 

The study was conducted on the Nordic consumer market between 2017 and 2019 with the purpose of finding out what the interest and knowledge look like in terms of circular economy in the Nordic markets Finland is undoubtedly at the forefront and in all the Nordic countries more men than women are familiar with the concept.  Women are also heavily overrepresented when it comes to a desire to decrease consumption and many of those asked are even open to a tax increase on goods and consumer products in return for a decrease in tax on services. 

Circular economy is important at Nordea. As an example, our head of sustainable finance, Sasja Beslik visited our corporate customer Inrego at their factory in the outskirts of Stockholm to learn more about their circular business model: giving life to used computers. Nordea Business Banking’s mission includes being a business partner offering leading financial advice and guidance on matters beyond banking. This customer story shows how business enables the transition towards a sustainable future. 

- For us as a bank, Inrego is very interesting since they have a sustainable business model. Sustainable business models are crucial to enable a sustainable future, says Sasja Beslik. 

Here, you can watch Sasja Beslik’s field visit to Inrego

Other sustainability stories by Nordea

Showing 5 of 113 results

Assessing sustainability through rankings – a complex matter

Our work Responsible business

Recently, Nordea was highly ranked for our sustainability work by the NGO ShareAction, while we scored relatively low in another ranking/survey. We understan...

Nordea and Nasdaq join forces to make the sustainability footprint of investments visible

About Nordea Sustainability Responsible investment

The sustainability footprint enables comparisons of the environmental footprint of our investment portfolios.

Celebrating Earth Day with a look in the rearview mirror

Our work

Fifty years have passed since a young American student named Denis Hayes orga-nized the world’s first Earth Day, bringing together 20 million Americans in a...

Anders Langworth

Nordea participates in the world’s largest online climate conference

Environment

On April 20th Nordea’s Group Head of Sustainable Finance, Anders Langworth, joins hands with some of the brightest minds around the globe to discuss how the...

Jenny Fransson

Additional steps towards a more sustainable bank

About Nordea Sustainability Reports and data

Nordea's Sustainability Report for 2019 is out now.

Showing 5 of 113 results