Nordea Bank Sustainability Profile
Nordea Bank Abp, commonly referred to as Nordea, is a leading financial services group headquartered in Finland (FI). Established in 2000, Nordea has grown to become a prominent player in the Nordic banking sector, with significant operations across Sweden, Norway, Denmark, and Finland. The bank offers a comprehensive range of services, including personal banking, corporate banking, asset management, and insurance, distinguished by its commitment to digital innovation and customer-centric solutions. With a strong market position, Nordea is recognised for its robust financial performance and sustainable banking practices. The bank has achieved notable milestones, such as being one of the largest financial institutions in the Nordic region, serving millions of customers with tailored financial products. Nordea's unique approach to integrating technology with traditional banking services sets it apart in the competitive landscape, making it a trusted partner for individuals and businesses alike.
DitchCarbon Score
How does Nordea Bank's carbon action stack up? DitchCarbon scores companies based on their carbon action and commitment to reducing emissions. Read about our methodology to learn more.
Industry Average
Mean score of companies in the Financial Intermediation industry. Comparing a company's score to the industry average can give you a sense of how well the company is doing compared to its peers.
Industry Benchmark
Nordea Bank's score of 88 is higher than 93% of the industry. This can give you a sense of how well the company is doing compared to its peers.
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Nordea Bank's reported carbon emissions
In 2024, Nordea Bank reported total carbon emissions of approximately 24,928,722,000 kg CO2e, with significant contributions from Scope 1, Scope 2, and Scope 3 emissions. Specifically, Scope 1 emissions were about 1,025,000 kg CO2e, while Scope 2 emissions (market-based) totalled around 3,037,000 kg CO2e. The majority of emissions stemmed from Scope 3, which accounted for approximately 23,928,722,000 kg CO2e, primarily from investments. Nordea has set ambitious climate commitments, aiming for a 30% reduction in both Scope 1 and Scope 2 emissions from 2020 levels by 2030. Additionally, the bank targets near-zero emissions for both Scope 1 and Scope 2 by 2025. In terms of overall strategy, Nordea aims to achieve net-zero emissions across all scopes by 2050, with a mid-term goal of reducing carbon emissions from its lending and investment portfolios by 40-50% by 2030 compared to 2019 levels. The bank has made progress in its reduction initiatives, achieving a 7.15% reduction in Scope 1 and Scope 2 emissions during 2019. These commitments and achievements reflect Nordea's dedication to addressing climate change and reducing its carbon footprint in alignment with global sustainability goals.
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| 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | |
|---|---|---|---|---|---|---|---|---|---|
| Scope 1 | 48,000 | 00,000 | 0,000,000 | 0,000,000 | 0,000,000 | 0,000,000 | 0,000,000 | 0,000,000 | 0,000,000 |
| Scope 2 | 3,409,000 | 0,000,000 | 0,000,000 | 0,000,000 | 0,000,000 | 0,000,000 | 0,000,000 | 0,000,000 | 0,000,000 |
| Scope 3 | 13,576,000 | 00,000,000 | 00,000,000 | 00,000,000,000 | 0,000,000 | 0,000,000 | 00,000,000 | 00,000,000,000 | 00,000,000,000 |
How Carbon Intensive is Nordea Bank's Industry?
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Nordea Bank's Scope 3 Categories Breakdown
Nordea Bank's Scope 3 emissions, which decreased by 4% last year and increased significantly since 2016, demonstrating supply chain emissions tracking. Nearly all of their carbon footprint comes from suppliers and value chain emissions, representing nearly all emissions under the GHG Protocol, with "Investments" being the largest emissions source at 100% of Scope 3 emissions.
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Nordea Bank's Climate Goals (2030 & 2050)
Climate goals typically focus on 2030 interim targets and 2050 net-zero commitments, aligned with global frameworks like the Paris Agreement and Science Based Targets initiative (SBTi) to ensure alignment with global climate goals.
Nordea Bank has not publicly committed to specific 2030 or 2050 climate goals through the major frameworks we track. Companies often set interim 2030 targets and long-term 2050 net-zero goals to demonstrate measurable progress toward decarbonization.
