Identifying and focusing on our material sustainability issues
To effectively identify and prioritise key sustainability topics, we regularly conduct a materiality analysis based on internal and external dialogues. The purpose of the materiality analysis is to identify the sustainability topics that are material for Nordea.
In our materiality pyramid we have clustered topics into areas. The materiality pyramid stands on a foundation consisting of the sustainability areas that are fundamental to trust in the banking industry, and that must be managed well to ensure going concern. Our focus areas in the middle are those that are important to us and/or our stakeholders in enabling the transition to a sustainable future, and which potentially have a material impact on our business and/or brand perception. The top of the pyramid is our lead area – climate action. It is a prioritised area that will have a longterm financial impact on our business, and that forms part of society’s goals as described in the SDGs and the Paris Agreement. Society is focused on climate change, and the financial sector’s importance to the transition to a low-carbon economy is more obvious than ever. Therefore, climate action remains our lead area.