NordeaFinland
Created before Nov 2016
Last update: 2019-04-15 17:33:36
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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 3 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
Finnish Financial Supervisory Authority
Annual reports Annual report 2018
CSR report 2018
Ownership
listed on Helsinki Stock Exchange, Nasdaq Copenhagen, OMX AB & Stockholm Stock Exchange

Nordea's share holder structure can be accessed here.

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.

Projects - active profiles

Solwara 1 Deep Sea Mining Project Papua New Guinea profile

mining - non coal
Debt – corporate loan
USD 61.51 million
2013
Provided to Metalloinvest and its subsidiaries since 2013
source: Profundo report
link
There are no active projects for Nordea now.

Projects - on record profiles

Botnia pulp and paper mill Uruguay profile

forestry - pulp and paper
Debt – trade finance
March 2007
Export finance
source: link
Debt – corporate loan
March 2007
Corporate loan for a specific purpose
source: link

Mountain top removal coal mining United States profile

mining - coal
Debt – corporate loan
EUR 68 million
2005 - 2013
source: Banks and Coal Spreadsheet, Profundo, 2014

Tamar Valley Pulp Mill Tasmania (formerly Gunns Pulp Mill) Australia profile

forestry - pulp and paper
Approached, interested
2008
During the initial phase of this planned project, Nordea Bank confirmed they were considering funding Gunns' pulp mill. In a statement to BankTrack they said that: "Nordea has been approached by Gunns Ltd. in the initial finance processes of the proposed pulp mill in Tasmania. Nordea has not committed to any financing of the project yet. Nordea is at this stage researching all aspects of the project prior to a finance decision."

Companies - active profiles

Arauco Chile profile

forestry - pulp and paper
Debt – corporate loan
USD 150 million
2007 - 2017
Loans and underwritings to Arauco between 2011 and 2017 for the Montes del Plata mill.
source: Thomson Reuters Eikon, “Corporate events-deals”, viewed in January 2017; Bloomberg, “Loans”, viewed in January 2017; Bloomberg, “Share and Bond issuance underwritings”, viewed in January 2017.

Polska Grupa Energetyczna (PGE) Poland profile

energy plants - coal | energy plants - nuclear | mining - coal
Debt – corporate loan
EUR 22.6 million
2005 - 2013
source: Banks and Coal Spreadsheet, Profundo, 2014
Uncategorised
Principal manager.
source: Poland, Euroweek - Issue: 767.

UPM-Kymmene Finland profile

forestry - pulp and paper
Debt – corporate loan
USD 32 million
2011 - 2017
Loans and underwriting between 2011 and 2017
source: Profundo, 2017
Equity – share owner/manager
USD 4.645 billion
Dated April 30th 2019
source: UPM-Kymmene
link
There are no active companies for Nordea now.

Companies - on record profiles

Areva France profile

energy plants - nuclear | energy plants - renewables | mining - non coal | nuclear industry
Debt – corporate loan
EUR 1,049 million
source: Euroweek - Issue: 986; Euroweek - Issue: 990;Euroweek - Issue: 1029;Thomson ONE database.

Marubeni Japan profile

energy plants - coal | forestry - pulp and paper | mining - non coal | transport and infrastructure
Debt – corporate loan
USD 12 million
March 1997
Syndicated loan worth USD 250 - Nordea was one of the banks involved. Matured in 2007.
source: link
Debt – corporate loan
USD 3 million
March 1997
syndicated revolving credit - 10 year syndicated revolving credit, worth in total USD 50 million.
source: link
Debt – corporate loan
USD 650 million
March 1997
syndicated export credit - 12,5 years guaranteed syndicated export credit, woorht in total USD 650 million

National Thermal Power Corporation (NTPC) India profile

energy plants - coal | energy plants - hydro | energy plants - renewables | manufacturing | mining - coal
Share issue – underwriter
USD 18.18 million
2016
source: NTPC Shareholders Spreadsheet, Profundo

SUEK Russian Federation profile

mining - coal
Debt – corporate loan
EUR 72.9 million
February 2016
source: Profundo, 25 April 2016
Debt – corporate loan
EUR 173.2 million
2005 - 2013
source: Banks and Coal Spreadsheet, Profundo, 2014

Vattenfall Sweden profile

energy plants - coal | energy plants - nuclear | energy plants - renewables | mining - coal | mining - non coal | nuclear industry
Uncategorised
EUR 293 million
2005 - 2013
shares/bonds underwriter or manager
source: Banks and Coal Spreadsheet, Profundo, 2014
Debt – corporate loan
EUR 427.9 
2005 - 2013
source: Banks and Coal Spreadsheet, Profundo, 2014
Debt – corporate loan
EUR 193.7 million
source: Thomson ONE Banker.
Bond issue – underwriter
EUR 136.1 million
source: Press release Vattenfall, Stockholm, 5 March 2009; Press release Vattenfall, Stockholm, 1 April 2009; Press release Vattenfall, Stockholm, 6 May 2009; Thomson ONE Banker.

Dodgy Deals map

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News

| |
Type:
Year:
blog
external news
our news

BankTrack 2019 Human Rights Benchmark: criteria and scope announced

2019-06-25 | Nijmegen | BankTrack
blog
external news
our news

These Are the Banks Caught Up in the Russia Money-Laundering Scandal

2019-03-06 | Bloomberg
blog
external news
our news

Principles must bring commitments

Banks endorsing draft Principles for Responsible Banking called upon to urgently act on what they sign
2018-11-26 | Paris | BankTrack
blog
external news
our news

New report linking Nordic banks and government pension funds to Indonesia’s palm oil deforestation

Nordic investments to Asian banks support rapacious palm oil producers with financing that impedes push for sustainability
2017-05-30 | Oslo, Norway | Fair Finance Guide Norway, Fair Finance Guide Sweden, Rainforest Foundation Norway
blog
external news
our news

Banks and pension funds fail to act on allegations against Lundin Petroleum

2017-04-27 | Fair Finance Guide Sweden, Swedwatch
blog
external news
our news

Europe’s biggest banks register €25 billion profit in tax havens

2017-03-27 | Fair Finance Guide International, Oxfam
blog
external news
our news

Scandinavian banks linked to violations of indigenous peoples’ rights in Borneo

2017-03-07 | Stockholm, Sweden | Fair Finance Guide Sweden, Swedwatch
blog
external news
our news

Exclusion of Dakota Access Pipeline companies

2017-02-08 | Stockholm | Nordea
blog
external news
our news

Swedish banks in breach of human rights guidelines

2015-06-17 | Stockholm | Amnesty International, Swedish Consumers’ Association, Fair Finance Guide
blog
external news
our news

Fair Finance Guide launches in Sweden

Swedish banks score poorly on sustainability
2015-01-23 | Stockholm | Fair Finance Guide
blog
external news
our news

Equator Principles goes beyond project finance, improves transparency

2012-08-13 | Environmental Finance
blog
external news
our news

New report: European banks fuelling food price volatility and hunger

2012-01-12 | Brussels | Friends of the Earth Europe
blog
external news
our news

While BankTrack criticizes Equator Principles, IFC celebrates Community of Learning

2011-10-25 | Washington | prizmablog.com
blog
external news
our news

Time to Improve the Equator Principles, BankTrack Says

2011-10-24 | Washington | Social Funds
blog
external news
our news

BankTrack to Equator Principles banks; ‘get the Outside Job done’

Equator Principles update must lead to new Principles focused on people and planet
2011-10-23 | Washington | BankTrack
blog
external news
our news

Financiers search for sustainable future

2011-10-20 | Washington | Environmental Finance
blog
external news
our news

New rules for Equator Principles, but no new commitments from banks

New governance rules represent missed chance for Equator Principles to take bold steps forward on transparency and accountability
2010-07-01 | Nijmegen, the Netherlands | BankTrack
blog
external news
our news

BankTrack calls upon banks to Close the Gap on investment policies

New report evaluates quality of investment policies of 49 banks; more policies in place, overall quality below what is required
2010-04-27 | Nijmegen, the Netherlands | BankTrack
blog
external news
our news

International Court of Justice rules on Uruguayan Botnia case

World Bank’s IFC, Nordea, Calyon and Finnvera complicit in violations of International Law
2010-04-20 | The Hague | CEDHA
blog
external news
our news

Equator Principles: Action, not words needed

BankTrack calls upon Citi, new chair of Equator Principles to take bold steps forward
2010-03-15 | Nijmegen, The Netherlands | BankTrack
blog
external news
our news

Civil society groups call for bold steps forward with Equator Principles

Major reforms needed on transparency, accountability, implementation and climate change
2010-01-14 | Nijmegen | BankTrack
blog
external news
our news

Swedish bank Nordea backs away from Gunns’ Pulp Mill

Responds to Avaaz campaign to protect forests
2010-01-07 | Australia | The Wilderness Society
blog
external news
our news

The Great Pulp Mill Swindle: A Chronicle of Deceit

2009-09-14 | Tasmanian Times
blog
external news
our news

World's major banks rule out financing Gunns' Pulp Mill

Advert in Financial Times warns banks to stay out
2009-04-29 | Tasmania, Australia | The Wilderness Society
blog
external news
our news

Who has adopted the Equator Principles?

Confusion at the EP Secretariat highlights grave flaws in implementation
2007-03-22 | Utrecht | CEDHA
blog
external news
our news

International coalition denounces Calyon for its support to Finnish papermill Botnia in Uruguay

2006-05-18 | Paris, France | CEDHA

Documents

| | | | | | | | | | | |
Type:
Year:
csr policies

Sustainability Policy

2019-09-15 00:00:00 | Nordea
correspondence

Letter from Nordea to BankTrack on PRB implementation

2019-09-11 00:00:00 | Nordea
csr policies

Engagement Policy

2019-09-09 00:00:00 | Nordea
correspondence

Letter from Nordea to BankTrack on comments on 2019 Human Rights Benchmark

2019-09-03 00:00:00 | Nordea
csr policies

Exclusion list

2019-06-30 00:00:00 | Nordea
csr policies

Code of Conduct

2019-06-12 00:00:00 | Nordea
ngo documents

Fool's Gold

The financial institutions bankrolling Europe’s most coal-dependent utilities
2019-05-21 00:00:00 | Europe Beyond Coal
annual reports

Annual report 2018

2019-04-15 00:00:00 | Nordea
csr policies

Sector guideline for the shipping industry

Date listed represents date as accessed on website
2019-04-15 00:00:00 | Nordea
csr policies

Sector guideline for the defence industry

Date listed represents date as accessed on website
2019-04-15 00:00:00 | Nordea
annual reports

CSR report 2018

2019-04-15 00:00:00 | Nordea
csr policies

Supplier code of conduct

2019-04-05 00:00:00 | Nordea
csr policies

Responsible investment policy

2019-02-28 00:00:00 | Nordea
csr policies

Anti-bribery and corruption policy

2019-01-31 00:00:00 | Nordea
other documents

Still Undermining Our Future?!

A case study for Fair Finance Guide International of Swedish financial institutions
2018-11-07 00:00:00 | Profundo
csr policies

Anti-Money Laundering/Counter Terrorist Financing policy and practises

2018-10-31 00:00:00 | Nordea
csr policies

Code of conduct

2018-06-13 00:00:00 | Nordea
annual reports

Annual Report 2017

2018-05-23 00:00:00 | Nordea
annual reports

Sustainability Report 2017

2018-04-30 00:00:00 | Nordea
csr policies

Responsible ship recycling standards

2017-12-17 00:00:00 | Nordea
csr policies

Sustainability policy

2017-12-13 00:00:00 | Nordea
csr policies

Position statement on climate change

2017-11-30 00:00:00 | Nordea
ngo documents

Nordic investments in banks financing Indonesian palm oil

2017-05-30 00:00:00 | Rainforest Foundation Norway, FFG Sweden and FFG Norway
annual reports

Annual Report 2016

2017-03-31 00:00:00 | Nordea
annual reports

Sustainability report 2016

2017-03-31 00:00:00 | Nordea
our publications

Banking with Principles? Second Edition June 2016

Benchmarking Banks against the UN Guiding Principles on Business and Human Rights
2016-06-30 00:00:00 | BankTrack
annual reports

Sustainability report 2015

2016-03-31 00:00:00 | Nordea
annual reports

CSR Report 2014

2015-02-12 00:00:00 | Nordea
annual reports

Annual Report 2013

2014-02-12 00:00:00 | Nordea
annual reports

CSR Report 2013

2014-02-12 00:00:00 | Nordea
annual reports

CSR Report 2012

A question of balance
2013-03-05 00:00:00 | Nordea
annual reports

Annual Report 2012

2013-02-12 00:00:00 | Nordea
correspondence

Letter from BankTrack et al. to various financial institutions on APP

2012-11-06 00:00:00 | BankTrack et al.
csr policies

Human rights commitments

2012-10-30 00:00:00 | Nordea
ngo documents

Worldwide investments in Cluster munitions, a shared responsibility

2012-06-20 00:00:00 | IKV Pax Christi & FairFin
annual reports

Annual Report 2011

2012-02-16 00:00:00 | Nordea
annual reports

CSR Report 2011

2012-02-12 00:00:00 | Nordea
annual reports

Annual report 2010

2011-04-21 00:00:00 | Nordea
annual reports

CSR report 2010

2011-04-21 00:00:00 | Nordea
correspondence

Letter from BankTrack to EPFIs on issues around Equator Principles Review process

2010-12-18 00:00:00 | Banktrack
our publications

Close the Gap

Benchmarking investment policies of international banks
2010-04-27 00:00:00 | BankTrack
ngo documents

Summary Table 'Hall of Fame and runners-up'

2010-04-01 00:00:00 | Netwerk Vlaanderen, IKV PAX Christi
correspondence

Response Nordea to signatories Avaaz action letter of 100106

2010-01-11 00:00:00 | Nordea
ngo documents

GUNNS’ PROPOSED PULP MILL

2009-12-01 00:00:00 | Wilderness Society

Media



Links

Nordea's CSR page

http://www.nordea.com/About+Nordea/Corporate+Social+Responsibility/51382.html

Tasmanians Against the Pulp mill (TAP)

TAP is an active community group opposed to Tasmanian timber company Gunns Ltd's proposal to build 'the world's fourth largest pulp mill' in the State's Tamar Valley.
http://www.tapvision.info/

The Wilderness Society, Tasmania

The Wilderness Society (TWS) is a national, community-based, environmental advocacy organisation whose purpose is to protect, promote and restore wilderness and natural processes across Australia for the survival and ongoing evolution of life on Earth.
https://www.wilderness.org.au/

Policies

Voluntary initiatives

Nordea has committed itself to the following voluntary standards:

Investment policies

Nordea's webpage on corporate social responsibility can be accessed here.
Year:
csr policies

Sustainability Policy

2019-09-15 00:00:00 | Nordea
csr policies

Engagement Policy

2019-09-09 00:00:00 | Nordea
csr policies

Exclusion list

2019-06-30 00:00:00 | Nordea
csr policies

Code of Conduct

2019-06-12 00:00:00 | Nordea
csr policies

Sector guideline for the shipping industry

Date listed represents date as accessed on website
2019-04-15 00:00:00 | Nordea
csr policies

Sector guideline for the defence industry

Date listed represents date as accessed on website
2019-04-15 00:00:00 | Nordea
csr policies

Supplier code of conduct

2019-04-05 00:00:00 | Nordea
csr policies

Responsible investment policy

2019-02-28 00:00:00 | Nordea
csr policies

Anti-bribery and corruption policy

2019-01-31 00:00:00 | Nordea
csr policies

Anti-Money Laundering/Counter Terrorist Financing policy and practises

2018-10-31 00:00:00 | Nordea
csr policies

Code of conduct

2018-06-13 00:00:00 | Nordea
csr policies

Responsible ship recycling standards

2017-12-17 00:00:00 | Nordea
csr policies

Sustainability policy

2017-12-13 00:00:00 | Nordea
csr policies

Position statement on climate change

2017-11-30 00:00:00 | Nordea
csr policies

Human rights commitments

2012-10-30 00:00:00 | Nordea

Campaigns

Nordea and the Equator Principles

The Equator Principles are a voluntary commitment of banks to try to avoid or minimise the social, environmental and human rights impact of projects they finance. For more information on the Equator Principles see their website here and the campaign page of BankTrack here.

The Equator Principles exist already since 2003. Nordea adopted the Equator Principles in 2007.

Reporting on the Equator Principles

Nordea must report annually on its implementation of the Equator Principles. All information is supposed to be found here.

Dodgy Deals

Nordea is involved in financing the following Equator Principles projects that BankTrack considers controversial.

There are no projects active for Nordea now.
On record

Tamar Valley Pulp Mill Tasmania (formerly Gunns Pulp Mill) Australia

forestry - pulp and paper

Human rights

True leader Front runner Follower Laggard
BankTrack has assessed Nordea on its implementation of the UN Guiding Principles on Business and Human Rights in June 2016. Nordea is assessed as a Follower, with a total score of 6/12.
Policy: 3/3Due dilligence: 1.5/3
Reporting: 1.5/3Remedy: 0/3
For more details, see Banking with Principles? 2016 update.

Equator Principles

Implementation and reporting

Nordea is reporting on the implementation here.

Contact and complaints

Equator Principles Dodgy Deals

Projects

On record

Tamar Valley Pulp Mill Tasmania (formerly Gunns Pulp Mill) Australia

forestry - pulp and paper

Good moves

Year:

2017

Six banks step away from Dakota Access Pipeline (DAPL) and backers

In February 2017, ABN AMRO, ING, BayernLB and Nordea all announced they would step away from financing either the project or its backers. In March, ING became the first bank to sell its portion of a project loan supporting the pipeline. This was followed by DNB and by BNP Paribas selling…

2010

Banks abandon Gunns Pulp and Paper Mill

More than 15 leading banks around the world, including all Australian banks, publicly declined to finance the controversial Gunns Pulp and Paper Mill after sustained campaigning from BankTrack, the Wilderness Society and others. In 2008 Australian bank ANZ became the first bank to publicly renounce financing the project.…