Nordea is a positive contributor in society, by being the preferred partner in enabling sustainable choices for our customers
For Nordea, sustainability means taking responsibility for the impact we have on our surroundings.
As one of the largest banks in the Nordic region, we are a positive contributor in society, by being the preferred partner in enabling sustainable choices for our customers. Together with our customers and partners, we can make a difference through the choices we make.
"For us, Sustainable Banking means inspiring and enabling our customers to make sustainable choices, contributing to society’s goals through climate action, social impact and strong governance."
Head of Group Sustainable Finance
Nordea has set the mission to enable the transition to a sustainable future in our capacity of a major bank and through the choices we make.
We address the UN’s Sustainable Development Goals (SDGs) as part of our efforts. Enabled by sustainable finance, we adapt to changes in our business environment – in demand, expectations and opportunities – to become increasingly digitalised and climate-friendly. We mitigate risks related to the environment, social issues, corporate governance, financial crime, credit losses, reputation and an uncertain future. We do so by integrating sustainability throughout the bank, into our core products and processes in our core areas of investments, financing and advice and in our internal operations.
Based on our materiality analysis 2018 we identified climate as the lead focus area for our efforts, followed by human rights, a responsible supply chain, being an inclusive employer with satisfied employees and community engagement.
Net inflow of
to Sustainable Selection in 2019
Included in Bloomberg’s
Gender-Equality Index for
the 4th consecutive year
- The amount of green mortgages increased by 328%.
- AuM in Sustainable Selection increased by 87%.
- In 2019 Nordea Global Climate and Environment Fund was awarded as one of the year’s best funds by the Swedish magazine Privata Affärer.
- In 2019, Nordea Life and Pensions reallocated SEK 25bn to more sustainable investments, reducing carbon emissions from those investments by 46%.
- 3.9bn USD in apportioned deal value for green bonds.
- 1,273,795 tonnes CO2e in annual emissions avoided through our green lending portfolio.
- Less air travel by Nordea employees to internal meetings in 2019 helped reduce CO2e emissions from air travel by 11%.
- The transition from paper to digital in our client communication saved 4,028 trees and reduced CO2e emissions by 1,000 tonnes in 2019.
The six Principles for Responsible Banking that banks commit to, in summary, are:
- Alignment: We will align our business strategy to be consistent with and contribute to individuals’ needs and society’s goals, as expressed in the Sustainable Development Goals, the Paris Climate Agreement and relevant national and regional frameworks. We will focus our efforts where we have the most significant impact.
- Impact: We will continuously increase our positive impacts while reducing the negative impacts on, and managing the risks to, people and the environment resulting from our activities, products and services.
- Clients and Customers: We will work responsibly with our clients and our customers to encourage sustainable practices and enable economic activities that create shared prosperity for current and future generations.
- Stakeholders: We will proactively and responsibly consult, engage and partner with relevant stakeholders to achieve society’s goals.
- Governance and Target Setting: We will implement our commitment to these Principles through effective governance and a culture of responsible banking, demonstrating ambition and accountability by setting public targets relating to our most significant impacts.
- Transparency and Accountability: We will periodically review our individual and collective implementation of these Principles and be transparent about and accountable for our positive and negative impacts and our contribution to society’s goals.
Sustainable leaders outperform laggards by
It pays to Invest with
an ESG hat on
Taking environmental, social and governance (ESG) criteria into consideration in investment processes is not only beneficial from a sustainability perspective but also from a financial perspective. Recent research by Nordea Markets found that companies that are leaders in sustainability outperformed laggards by around 40% over a three-year period.
Watch our other first-hand reports from the field
Keep up with the latest in sustainable finance
Sign up for the Sustainable Finance newsletter
If you'd like more information,
please contact our sustainability team