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.
"Our ambition is to be a leading European bank in the transition to a sustainable future by 2021."
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.
- Be acknowledged as a leading European bank in the transition to a sustainable future.
- Be acknowledged as the leading business partner in sustainable finance and perceived as a leader for sustainable financial service offerings for household customers.
- Have investment portfolios well on their way to being aligned with the Paris Agreement.
- Be the leading arranger of sustainability bonds and the leading bank on green lending in the Nordics.
- Actively reach out to our employees, customers and broader society on climate and finance.
- Nordea was ranked as one of the world’s top 100 sustainable corporations.
- EUR 5.90 billion in assets in Nordea’s sustainable funds as of March 2018.
- We were the No. 2 issuer of green bonds in the Nordics in 2017.
- Nordea wins Best Investment ESG Process award in Europe in 2018 for the fourth year in a row.
- A total of 90% of our new contracted suppliers were screened for environmental protection, labour practices, human rights and anti-corruption in 2017.
- Thanks to our customers choosing to use our digital tools, we are one step closer to achieving our goal of becoming a paper-free company within a few years. Nordea Personal Banking sent out 15 million fewer letters to customers in 2017 alone, equating to a reduction in paper usage of about one-fifth.
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.
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please contact our sustainability team