Nordea Bank






Satamaradankatu 5
FI-00020 Nordea

Tel: +358 (0) 200 70 000



The bank does not disclose this information.





Anders Langworth




No relevant external sources found.

Report created by William Evans


Nordea Bank

SECTIONS :  Sustainability  •  Targets    Evaluation  •  Key Points  •  Overview

Company Activity

Nordea Bank Abp was founded in Finland in 1820 and is headquartered in Helsinki. The merger of Merita Bank, Nordbanken, Unidanmark formed the bank, and Christiania Bank of Kreditkasse all located in the Nordic region.

Nordea is a full-service banking institution. They operate through personal banking, commercial and business banking, wholesale banking, and asset and wealth management.

Company Sustainability Activity

Nordea Bank is setting itself up for a solid future of sustainability. They have been contributing to climate action committees and are helping guide the banking industry to not only push for sustainability but to become a leader of sustainability by providing financing for those attempting to become more sustainable.

Nordea’s sustainability efforts are recent but much bolder and more aggressive than many larger banks. Nordea Bank is in the early stages of where Nordea plans to develop sustainability in the near future. 



  • Net-zero emissions by 2050.
  • Reducing carbon emissions across their investment and lending portfolios by 40-50% by 2030.
  • Reducing carbon emissions in their internal operations by more than 50% by 2030.
  • Shipping portfolio to have at least 25% lower emissions than the global fleet by 2050.
  • By 2023 25% of gross inflow for savings in sustainable products.
  • 2023 increase in green and transition financing and be the leading provider of sustainability products for large corporations in their home markets.
  • 2023 total carbon reduction from internal operations 30% compared to 2019.
  • 2023 total carbon reduction from internal operations 30% compared to 2019.


  • Paperless Banking Program: removed or digitalized 60% of all customer letters since 2015.
  • New company car policy only allows hybrid or electric vehicles.
  • 110% growth in green corporate loans in 2020.
  • 256% increased total transaction volume in sustainability-linked loans in 2020.
  • 143% growth in green mortgages in 2020.
  • 372% growth in green transportation financing, leasing, and loans in 2020.
  • 2nd amongst the Finnish listed companies and 2nd at the financial industry level covering both Finland and Sweden in Nordic Business Diversity Index 2021.
  • 100% of new suppliers screened for sustainability issues.


Nordea Bank does not hold any sustainability certificates.

UN Sustainable Development Goals

UN SDGs Compliance

SDG 4: Quality Education

  • Nordea Bank provides community engagement activities, which contribute to increasing the number of youth and adults who have relevant skills including technical and vocational skills for employment, decent jobs, and entrepreneurship.
  • Increase awareness among their customers to ensure they acquire the skills needed to promote sustainable development through offering and training customers in sustainability-enhanced funds and other sustainable contributing products.

SDG 5: Gender Equality

  • Nordea Bank ensures equal access to job opportunities for women and men, supports women in leadership, and is committed to ensuring equal remuneration for all employees, zero tolerance for violence and harassment in the workplace.

SDG 7: Affordable and Clean Energy

  • Direct capital flows toward more sustainable technologies and businesses through financing and investments.
  • Green bonds help ensure access to affordable and clean energy for all.

 SDG 8: Decent Work and Economic Growth

  • Nordea Bank works towards abolishing forced labor, human trafficking, modern slavery and child labor with policies, guidelines, assessments and transaction monitoring.
  • Nordea Bank ensures access to financial services for everyone.

SDG 9: Industry, Innovation and Infrastructure

  • Nordea Bank helps entrepreneurs build sustainably successful businesses.
  • Nordea Bank supports entrepreneurs from start-ups to large companies, with the aim of providing them with financing, networks and requisite skills.

 SDG 10: Reduced Inequalities

  • Nordea Bank aims to attract and retain talent irrespective of not only gender but of age, ethnicity, sexual orientation, religion or any other aspect

SDG 12: Responsible Consumption and Production

  • Nordea Bank works primarily with their corporate customers towards a circular economy
  • Nordea Bank creates awareness about sustainable development and responsible consumption with their retail customers in meetings and through offering them products and services.

SDG 13: Climate Action

  • Nordea Bank works on reducing climate change impact from their internal operations such as business travel and energy consumption.

SDG 14: Life Below Water

  • Nordea Bank works on reducing their negative impact on the environment from the shipping industry on water resources, specifically ballast water and noise pollution.

SDG 15: Life on Land

  • Nordea Bank works on reducing the impact from the agricultural sector specifically with biodiversity loss.

SDG 16: Peace, Justice and Strong Institutions

  • Nordea Bank works on tracking down and stopping money flows through human trafficking, terrorism, corruption, drug smuggling, tax evasion and other illegal activities.

 SDG 17: Partnerships for the Goals

  • Nordea Bank participates and supports international commitments that enable businesses to collectively address global sustainability challenges and work towards the objectives of the Paris Agreement and the UN Sustainable Development Goals.


Nordea Bank has created initiatives and dedicated their business model to having sustainability as their focus in recent years. They are committed to following the UN Sustainable Development Goals by aligning with twelve of them.

Nordea has earned significant recognition for their current sustainability methods within and outside of their own activity. They have created and joined committees and organizations that aim to shift financial institutions to become leaders for sustainability. As well, a few of their corporate officers have been elected into positions that oversee the implementation of sustainable practices.  

While Nordea has ambitious sustainability objectives, it is fairly early in its process of making its operations more sustainable and has no certificates or listings to prove its statements.

In addition, they have invested $9.484 B in the fossil fuel industry since the adoption of the Paris Agreement. However, the firm did decrease its investments from $2.013 B in 2019 to $1.574 B in 2020. Its involvement in the industry cannot be ignored.

Nordea has been rated a C.

Analyst Outlook: Positive

Even though Nordea is in the early stages of the push for sustainable finance, they are looking to help guide banks and other businesses to a cleaner future. They are taking strides in becoming members and participants in organizations and committees that seek a more sustainable future.

Additionally, Nordea is divesting from the fossil fuel industry. If it continues to do so and continues its sustainability efforts, it could receive a higher rating.

Key Points

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