For the second year in a row, Nordea was ranked as one of the top 100 most sustainable corporations in the world by Corporate Knights. The 2019 Global 100 ranking was announced today at the World Economic Forum in Davos.
“I’m proud that our hard work to integrate sustainability into our business has been recognised. During the past two years, we’ve raised the bar in relation to our work on sustainability and sustainable finance. Together with our customers and partners, we believe we can – and should – enable the transition to a sustainable future. Being ranked among the 100 most sustainable companies in the world shows that we’re on the right track,” says Group CEO Casper von Koskull.
Nordea was ranked as one of the top five sustainable banks in the world in the 2019 Global 100. Corporate Knights, a specialised media and investment research firm, analysed 7,536 companies against global industry peers based on 21 key performance indicators. Nordea achieved this strong result thanks to top quartile performance on clean revenues generated from clean financing activities, board gender diversity and industry leading carbon and energy productivity.
“The high ranking we received for our clean financing activities is most likely the result of an increase in our green product range in 2018. In addition to our existing offering of green bonds, we added green loans to corporates and green mortgages to our household customers,” says Jenny Fransson, Sustainability Reporting Expert.
First in Nordics to offer green loans
Nordea was one of the first banks in Europe, and the first in the Nordics, to offer green loans to customers. Like green bonds, green loans are used to finance specific investments with environmental benefits and give our customers the opportunity to address climate change in their financing.
Green loans were introduced to the Swedish market in 2018 and will now be rolled out across the Nordics in 2019. This product is very much sought after by our customers, especially larger players within specific sectors such as real estate and renewable energy. In 2018, we also launched green mortgages in Sweden for our customers who reside in climate-smart homes.
Sustainable finance at Nordea is about integrating sustainability into our business. This includes all business activities and products within our core areas of investment, financing and advisory. It is important that the financial services sector lends money to, and invests in, companies that make a positive and sustainable contribution to our shared future. Nordea works with sustainable finance to deliver long-term value to our customers, investors, stakeholders, customers and society
“It’s nice to see that we’re getting the recognition we deserve for all the hard work everyone in the bank is doing to enable the transition to a sustainable future,” says Anders Langworth, Deputy Head of Group Sustainable Finance.
Our sustainable products
To help companies transition to more sustainable business models, we offer green bonds. We work with green bonds in two different ways. Firstly, we issue our own green bonds. The proceeds are earmarked to finance loans to customers that have environmental benefits and mitigate climate change. Projects are typically aimed at energy efficiency, pollution prevention, sustainable water management and sustainable agriculture. Secondly, we serve as intermediaries between our customers as issuers and investors by helping them issue, or invest in, green bonds via the capital markets.
Green loans are used to finance specific investments with environmental benefits and give our customers the opportunity to address climate change in their financing. The customer commits to using the financing for a sustainable investment, which requires them to report the positive impact from the investment on, for example, energy or water consumption.
Our green mortgage is a mortgage for customers who reside in climate-smart homes that fulfil criteria relating to either energy classification of buildings, the Nordic Swan eco-labelling or certification by the Sweden Green Building Council.
We created a family of investment funds under the Stars brand. The Stars funds are about positive selection and selecting quality companies with well-managed ESG (Environmental, Social and Governance) profiles that generate long-term financial value. It’s about finding tomorrow’s best performers, which – from our point of view – will be companies with sustainable business models that conduct their business responsibly in relation to their stakeholders – employees, suppliers, customers, investors and society at large.
The Climate and Environmental Fund
The Climate and Environmental Fund invests in companies which, through their climate solutions, are helping to change the world for the better – because saving electricity is as important as generating clean electricity. The fund focuses on businesses related to resource efficiency, environmental protection and alternative energy.
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