Our sustainability governance model provides a solid foundation for developing and anchoring sustainability strategy and targets. It ensures that we focus on embedding sustainability into the business by implementing decisions in the relevant business areas. All our units have different roles to play and duties regarding how to support the implementation. These are explained below.
Group Executive Management
Group Executive Management (GEM) is responsible for approving the sustainability strategy including plans, targets and performance indicators and, together with the Board of Directors, they set the direction ahead. To ensure that social and environmental topics are represented at senior-management level, we have our Group CEO and two members of GEM that are directly responsible for sustainability-related matters.
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Business Ethics and Values Committee
The Business Ethics and Values Committee (BEVC) is the primary decision-making body for sustainability-related matters, chaired by the CEO. The BEVC decides on Nordea’s values and ethical aspects to be considered in business decisions.
The Sustainability Committee is represented by each business area and group function at Nordea. The committee formulates suggestions regarding polices relevant to one or more business areas, which are submitted to the BEVC for approval. Furthermore, the Sustainability Committee is responsible for following up on Nordea’s sustainability strategy and ensuring the implementation of decisions in the respective business areas.
Group Sustainable Finance
Consists of two closely collaborating teams that work across business units and countries.
Perform analysis, research, engagements and support the business agenda across the group by ownership and coordination of tools, research, analysis and engagements. Provide ESG expertise for product and business implementation and ESG advice.
Responsible for business implementation. Supports and manages business needs. Drives sustainability implementation through planning and execution together with the business areas and group functions. The team has dedicated resources for each specific business area.