Complex challenges call for complex solutions. Therefore, we seek to share and encourage best practices through participation in a range of international initiatives.
Since 2001, Nordea has been a member and close collaborator with the United Nations Environment Programme Finance Initiative, in short UNEP FI. This is a global public-private partnership between the United Nations Environment Programme and the financial sector. Its mission is to bring about systemic change in finance to support a sustainable world.
UNEP FI works closely with over 200 members in 51 countries, who have signed the UNEP FI Statement of Commitment. Members include public and private financial institutions from around the world – investment companies, banks and insurance companies – and they are balanced between developed and developing countries. All participating institutions share Nordea’s belief: That sustainability is part of a collective responsibility.
The initiative aims at creating an enabling environment for its members to embed sustainable development policies into their operations and turn this into an opportunity for growth as well as shaping the sustainable finance agenda as it develops.
Nordea and the other members work together via several sectorial, thematic and regional groups, seeking to understand and address the most current and important sustainable finance issues.
UNEP FI is one of the commitments forming the basis for the Nordea Sustainability Policy, and it guides us in how to take environmental and social considerations into account in our own operations and business decisions.
Shaping sustainable development
UNEP FI helps both policy makers and financial institutions overcome the challenges set by sustainable development. For instance, the UNEP FI climate change project is a leading partner in the Portfolio Decarbonization Coalition (PDC), a multi-stakeholder initiative that will drive down greenhouse gas emissions by mobilising a critical mass of institutional investors, with $100 billion of assets under management, committed to gradually decarbonising their portfolios.
Another UNEP FI-led initiative, the Natural Capital Declaration (NCD), recognises the growing momentum around the focus on natural capital and the need to protect what is most valuable.
The NCD is a set of commitments for the finance sector to integrate natural capital considerations into loans, equity, fixed income and insurance products, as well as in accounting, disclosure and reporting frameworks.