Nordea the best bank in the Nordic CDP report for the second year in a row

Nordea received recognition in the yearly Nordic Carbon Disclosure Project’s (CDP) report as the best bank in the Nordics. The report was released on 16 October, and similarly to last year Nordea scored the highest ranking among its peer Nordic banks.

The Nordea Group’s disclosure scored 91 points (out of 100) in the Nordic Carbon Disclosure Project’s evaluation, compared to 87 last year. Nordea was the best bank in the sector leader index.

- We are pleased that our efforts to integrate CSR with business are recognised again. We do believe that we are on the right track, but are also confident that further opportunities remain to be utilised by us and our customers, says Liisa Jauri, head of CSR at Nordea.

The report is also a tool for portfolio managers to identify whether companies are meeting investors’ expectations with regard to climate change risk management, reporting and performance. It provides an instrument to compare data across time, and across relevant peers. – We periodically undertake climate footprinting of our portfolios using data produced via CDP. This is carried out as an indicator of the carbon sensitivity of our investments, says Sasja Beslik, head of Responsible Investments & Governance at Nordea Investment Funds.

The report says that Nordic companies in general demonstrate the value of sustainability as well as the strategic importance of addressing the effects of climate change in corporate planning. It reveals that Nordic companies’ greenhouse gas (GHG) emissions fell slightly from a year earlier but by less than might have been expected given the slowdown in the economy. The number of Nordic companies responding to the CDP questionnaire continued to increase and provided a better quality of disclosure, but also gaining improvements in all of the key performance indicators, the report says. According to CDP, participating companies’ investments in low-carbon products or emission reductions pay off relatively quickly.

CDP works on behalf of 655 investors with assets of USD 78 trillion, one being Nordea Investment Management, by requesting disclosure on the largest companies’ approach to the threats and opportunities of carbon emissions. Most of Nordea’s Nordic peers participate in this survey.

Read more about the report results
Read more about CDP