Nordea has released its Annual Report for 2023, highlighting the bank's commitment to sustainability and climate action. The report outlines Nordea's efforts to align its business strategy with the Paris Agreement and provides an update on the bank's climate actions and targets.
The financial year 2024 will see an expansion in sustainability reporting as the Corporate Sustainability Reporting Directive (CSRD) updates rules on social and environmental reporting. This aligns with Nordea's goal to integrate sustainability into all aspects of its business.
Nordea has set a significant target to reduce emissions from its lending and investment portfolios by 40-50% by 2030. It remains the only Nordic bank with such a comprehensive emission reduction target. Details of this plan are available in Nordea’s progress report on climate actions.
The bank emphasizes the importance of reducing emissions, mitigating negative climate impacts, and focusing on transition plans and reporting. To enhance these efforts, Nordea engages in ongoing dialogue with stakeholders, including AkademikerPension representing Kapitalforeningen MP, regarding climate-related risks associated with financing fossil fuel companies.