Partnering for global impact: Nordea joins the Net-Zero Banking Alliance

“We believe that collaboration within and beyond our industry is key to combating climate change and accelerating real-world impact. The NZBA plays an important role in this, especially in addressing the climate crisis and gathering the industry around the necessary net-zero target,” says Nordea’s CEO and Group President Frank Vang-Jensen.

The alliance urges its members to set firm intermediate targets, which Nordea already have in place with targets set for 2023 and objectives for 2030 and 2050. Nordea is also working with sector-specific guidelines and focusing on supporting and engaging with the customers to drive the transition together.

Banks play a vital role

As a co-founder of the UNEP FI Principles for Responsible Banking Nordea has been engaged in this work for many years. Nordea is already an active member of two other net-zero initiatives: Nordea Asset Management is a co-founder and member of the Net-Zero Asset Managers Initiative and Nordea Life & Pensions is a co-founder and member of the Net-Zero Asset Owner Alliance.

Head of Group Sustainability Anders Langworth explains how the new alliance supplements the already existing ones:   

“Nordea is a part of the global economy and we’re determined to take a leading role in making the society more sustainable, which means that we consider every aspect of our activities – savings, lending, advisory and our internal operations.
The new alliance supports this holistic approach and the 72 member banks cover customers in 120 countries and 700 cities. I’m confident that Nordea and the alliance will have a vital role in driving the global economy toward zero emissions.”