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Nordic banks increase finance for Arctic oil and gas, new report finds
Ten Nordic banks provided US$ 21.2 billion to the fossil fuel industry. DNB, SEB, Nordea and Danske Bank largest Nordic financiers.
NordeaFinland
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This profile is actively maintainedCreated before Nov 2016
Last update: 2022-11-22 14:48:21
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Nordea head office in Helsinki, Finland. Photo: Holger Ellgaard via Wikimedia Commons (CC BY-SA 3.0)About Nordea
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.
| Website | http://www.nordea.com |
| Headquarters |
Satamaradankatu 5
FI-00020 Helsinki
Finland
|
| CEO/chair |
Frank Vang-Jensen CEO |
| Supervisor | |
| Annual reports |
Annual report 2021 CSR Report 2020 |
| Ownership |
listed on Helsinki Stock Exchange, Nasdaq Copenhagen, OMX AB & Stockholm Stock Exchange
Nordea's shareholder structure can be accessed here. |
| Complaints and grievances |
Nordea's Raise Your Voice whistleblowing channel allows adversely affected individuals and communities to raise human rights-related complaints. Stakeholders may also raise complaints via the OECD National Contact Points (see OECD Watch guidance). |
Related Dodgy Deals
Nordea has been linked to the following "Dodgy Deals", e.g. as a current or past financier or through an expression of interest. Find out more about dodgy deals here. See the project or company profile for more details on the nature of the bank's link to the Dodgy Deal.
Dodgy Deals map
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Targets
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Active profiles
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On record profiles
Policy Assessments
Tracking the Equator Principles
EPFIs reporting status
BankLast update
Country
Reporting period
PF deals under EP
Project names reported
% Project names reported
Details
Nordea
2022-08-23
FIN
2021
0
0
1.000000001E+27
0
Explanation
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.
For more details see this page.
Banks and Human Rights
Human Rights Benchmark November 2019
BankLast update
Country
Score
Ranking
Details
Nordea
FIN
6.5
Front runner
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Explanation
Laggard
Follower
Front runner
Leader
0 - 3.5 points
4 - 5.5 points
6 - 8.5 points
9 - 14 points
For more details see this page.
Global Human Rights Benchmark 2022
BankLast update
Country
Score
Ranking
Details
Nordea
FIN
5.5
Follower
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Explanation
Laggard
Follower
Front runner
Leader
0 - 3 points
3.5 - 6.5 points
7 - 10 points
10.5 - 14 points
For more details see this page.
Response Tracking
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".
Impacts reviewed
Responded?
Total score
Response
Action
Monitoring
Don't Buy into Occupation report, Sept 2021
0
0
0
0
Response
0
Out of 1
Rationale for score
The bank did not respond. Action
0
Out of 1Rationale for score
No information available on whether the bank engaged with its client or took appropriate action. Monitoring
0
Out of 1
Rationale for score
No information available on whether the bank monitored progress.
Following the bank's response: The bank has not provided details on how it monitored the progress of specific companies or how the bank monitored the impact on rights-holders involved in raising the issue with the bank of its own action of updating the Agriculture sector policy. Therefore, the score remains unchanged.
More info
Average
0%
0
0
0
0
News
Documents
Type:
Year:
Policies
Voluntary standards
Nordea 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 (TCFD)
- UN Guiding Principles on Business and Human Rights
- UNEP Finance Initiative
- United Nations Global Compact
- Universal Declaration of Human Rights
Equator Principles
Implementation and reporting
Nordea is reporting on the implementation here.
Contact and complaints
Equator Principles Dodgy Deals
Good moves
Year:
