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.
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.
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 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.
Other internal policies and guidelines
- Nordea Conflict of Interest Policy (pdf, 190 KB)
- Nordea Anti-Bribery Policy
- Nordea Anti-Bribery and Corruption Practices (pdf, 666 KB)
- Nordea Anti-Money Laundering/Counter Terrorist Financing (“AML/CTF”) and Sanctions Policy (pdf, 186 KB)
- Wolfsberg Anti-Money Laundering Questionnaire (pdf, 1 MB)
- Nordea Remuneration Policy
- Nordea Supplier Policy
- Nordea Supplier Guidelines (pdf, 48 KB)
- Nordea Policy for Responsible Investment
- Nordea Capital policy
- Nordea Tax Policy (pdf, 21 KB)
- Nordea policy statement extract from tax policy (pdf, 99 KB)
- Nordea US Patriot Act (pdf, 634 KB)
- Nordea US Patriot Act Appendix (pdf, 298 KB)
- Data security 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.
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
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
|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
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
- IIF - Institute of International Finance
- IBC - The International Banking Cicle
- ICMA - International Capital Market Association
- GFMA - Global Financial Markets Association
- 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
- 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
- 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)