Nordea's corporate governance
At Nordea we are committed to strong corporate governance by having clear and systematic decision-making processes that provide clarity about responsibilities, avoid conflicts of interest and ensure satisfactory transparency. This commitment to Nordea's mission and vision requires the integration of sound governance practices into regular business activities in order to attain - as far as possible - a company this is well governed and well managed. Learn more about Nordea's Group Corporate Governance.
Our CSR governance model aims to ensure that we focus on embedding CSR in the business by implementing decisions within the relevant business areas. The Group Executive Management team, the Corporate Social Responsibility committee and Corporate Social Responsibility Unit all have roles to play. These are explained below.
To understand the structure a little better, view the CSR governance model diagram (pdf, 1 MB).
Group Executive Management
Group Executive Management (GEM) is responsible for approving the CSR strategy and goals each year. With the Group CEO and two members of GEM directly responsible for CSR-related matters, social and environmental aspects are represented in the senior management. GEM receives an update on CSR topics from the Head of CSR three to four times annually.
The CSR committee consists of those business areas and functions most important to the development of CSR in Nordea. The CSR committee is the primary decision-making body for CSR related matters in Nordea and is responsible for discussing strategic oversight and direction related to corporate responsibility. The committee meets on a quarterly basis. The committee's responsibilities include:
- Preparing, following up on and ensuring executive of Nordea's CSR strategy
- Defining and following up on Nordea's CSR strategy
- Defining Nordea's core CSR policies
- Ensuring that the decisions made are implemented in the business areas and group functions as planned
- Sharing knowledge and identifying CSR trends and opportunities for Nordea
Nordea’s CSR unit coordinates the group-wide CSR strategy, CSR initiatives and brings issues to the attention of senior management. It ensures that sustainability is on the business agenda of the group. The CSR unit's responsibilities include:
- Creates and develops the overall sustainability strategy and goals for the group
- Coordinates sustainability actions and business area commitment
- Communicate Nordea as a sustainable company and good corporate citizen
- Initiates and participates in CSR projects as separately agreed