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The Nordea Group was established in 2000 but derives its origin from banks and insurance companies from the Nordic region from the early 19th century. Since December 2001 the entire group is operating under the Nordea brand. Nordea is the largest financial services group in the Nordic and Baltic Sea region. Nordea has around 11 million customers, approximately 1,400 branch offices in nine home markets and a netbanking position with 5.2 million e-customers.
Frank Vang-Jensen |
Annual report 2021|
CSR Report 2020
listed on Helsinki Stock Exchange, Nasdaq Copenhagen, OMX AB & Stockholm Stock Exchange
Nordea's shareholder structure can be accessed here.
|Complaints and grievances|
Related Dodgy Deals
Dodgy Deals map
Tracking the Equator Principles
EPFIs reporting status
EP reporting page: https://equator-principles.com/reporting-nordea-bank-ab-publ-2020/
Project name reporting status of Equator Principles signatories for each financial institutions' most recent reporting period. Where there is no percentage presented the EPFI has not reported having financed any project transactions in that reporting period.
Banks and Climate
Bank net zero commitments
Goal 2025/2030: Cut lending and investment emissions 40-50% by 2030. Also pledged to set a 2030 target (NZBA).
Goal 2050: Net zero by 2050 (lending and investment). Also NZBA
This table tracks the net zero pledges and commitments of banks. It shows whether banks have committed to net zero by 2050 and have set an interim emissions reduction goal for 2025 and/or 2030. It also notes banks that have not yet set targets but have pledged to do so in the future, including by joining the Collective Commitment to Climate Action or Net Zero Banking Alliance. Finally, it notes whether banks have (pledged to) set Science-Based Targets. More information and references can be found by expanding the 'details' section of each bank.
- A blue check mark means the bank has set a target or joined the alliance. A check mark does not mean that the target set by the bank meets any particular standard, just that is has set a target. In case we have identified short comings in the target, for example when it only applies to lending and not underwriting), this is noted in the 'details' section.
- An orange dash means a bank has pledged to set a target (for example, banks commit to set 2030 and 2050 targets when they join the NZBA), but have not yet actually done so.
CCCA = Collective Commitment to Climate Action
NZBA = Net Zero Banking Alliance
SBT = Science-Based Targets
Banks and Human Rights
Human Rights Benchmark November 2019
Nordea's human rights policies, processes and reporting were assessed as part of the BankTrack Human Rights Benchmark in November 2019. The bank is assessed as a Front runner, with a total score of 6.5 out of 14.
Due dilligence: 1.5/5
This page evaluates Nordea's responses to instances of alleged human rights violations linked to its finance, raised by civil society organisations. It is not intended to be exhaustive, but covers selected impacts raised by BankTrack and other civil society partners since 2016. For the full scoring methodology, see here. For more information about BankTrack's evaluation of bank responses to human rights impacts, see the 2021 report "Actions speak louder: assessing bank responses to human rights violations".
Nordic bank Nordea faces questions about its fossil fuel policies at its AGM
What the war in Ukraine teaches us
Investment money from banks and pension companies operating in Finland may have seeped into the Myanmar army - companies say they have now sold their holdings
Equator Banks involved in financing at least 200 fossil fuel projects since Paris
Partnering for global impact: Nordea joins the Net-Zero Banking Alliance
New report exposes billions in European financial support to companies in illegal Israeli settlements
Fossil Banks No Thanks demands banks commit to end fossil fuel finance before Glasgow Climate Summit
New research puts big banks’ sustainability claims in doubt
As Nordic banks aim to go greener, lending lags asset management pledges
More than half of Europe’s bank directors too compromised to end fossil fuel finance
Banking on Climate Chaos 2021: World’s 60 largest banks have poured USD 3.8 trillion into fossil fuels since Paris Agreement
What are banks getting wrong on human rights? [$]
SASB, CDP, Ceres, 2ii and ShareAction vie to be part of oversight body for Principles of Responsible Banking
Förbjud bankernas stöd till fossilbolagen
Debat | Oxfam Ibis og MS: Ny rapport viser Danske Bank og Nordeas store klimahykleri
Business-overblik: Det startede med 465 kvm på Broadway på Manhattan og ender nu i stor fiasko: Tiger lukker alle butikker i USA
Scandinavian banks poured $67 billion into the fossil fuel industry since Paris
Nordea og Danske Bank beskyldes for klimasvigt: Har lån for 168 mia. kr. i sorte selskaber
Global finance sector failing to apply conservation criteria to pulp and paper funding
Swedish banks linked to the war in Yemen
Big European banks face call to end funding for firms building coal-fired plants
4 out of 5 banks failing on human rights, new BankTrack Human Rights Benchmark shows
Principles must bring commitments
New report linking Nordic banks and government pension funds to Indonesia’s palm oil deforestation
Banks and pension funds fail to act on allegations against Lundin Petroleum
Scandinavian banks linked to violations of indigenous peoples’ rights in Borneo
Fair Finance Guide launches in Sweden
While BankTrack criticizes Equator Principles, IFC celebrates Community of Learning
BankTrack to Equator Principles banks; ‘get the Outside Job done’
New rules for Equator Principles, but no new commitments from banks
BankTrack calls upon banks to Close the Gap on investment policies
International Court of Justice rules on Uruguayan Botnia case
Equator Principles: Action, not words needed
Civil society groups call for bold steps forward with Equator Principles
Swedish bank Nordea backs away from Gunns’ Pulp Mill
World's major banks rule out financing Gunns' Pulp Mill
Who has adopted the Equator Principles?
Banking on Climate Chaos 2022
Nordea’s new climate policy allows oil and gas expansion
Still Undermining Our Future?!
Still Irresponsible Investments
Banking with Principles? Second Edition June 2016
Voluntary standardsNordea has committed itself to the following voluntary standards:
- Carbon Disclosure Project
- Collective Commitment to Climate Action (CCCA)
- Equator Principles
- Extractive Industries Transparency Initiative
- Global Reporting Initiative
- Montreal Carbon Pledge
- Net-Zero Banking Alliance (NZBA)
- OECD Guidelines for Multinational Enterprises
- Paris Agreement Capital Transition Assessment (PACTA)
- Partnership for Carbon Accounting Financials (PCAF)
- Poseidon Principles
- Principles for Responsible Banking (PRB)
- Principles for Responsible Investment (PRI)
- Responsible Ship Recycling Standards (RSRS)
- Task Force on Climate-related Financial Disclosures
- UN Guiding Principles on Business and Human Rights
- UNEP Finance Initiative
- United Nations Global Compact
- Universal Declaration of Human Rights
Implementation and reporting
Nordea is reporting on the implementation here.