Nordea has announced that it has surpassed its primary 2025 sustainability milestones, recording a 44% reduction in financed emissions across its lending portfolio compared to 2019 levels. The bank also confirmed it has facilitated €235 billion in sustainable financing, outperforming its mid-term targets and positioning the group to meet its 2030 climate goals.
The results follow a four-year strategic cycle initiated in 2021, during which the bank pivoted toward transition finance and deeper customer engagement to drive decarbonisation.
Nordea’s reduction in financed emissions—now at 44%—places the bank at the upper end of its 2030 target range of 40-50%. According to the group, the pace of this decarbonisation is currently faster than the trajectories prescribed by scientific scenarios for limiting global warming to 1.5°C.
A key factor in this shift has been a significant reduction in fossil fuel exposure. Lending to the oil and gas extraction sector has been curtailed to just 0.001% of the bank’s total lending portfolio.
“Our strategic direction is clear,” said Anja Hannerz, Head of Group Sustainability at Nordea. “We stand by our long-term objective to achieve net-zero emissions by 2050 at the latest and are decarbonising our portfolios… faster than the pace prescribed by scientific scenarios.”
The uptake of sustainability-linked products has seen a sharp increase. Green and sustainability-linked assets now constitute 15% of Nordea’s total assets, nearly double the proportion recorded in 2022.
The bank’s market presence in sustainable debt remains significant, with over €17 billion in sustainable bonds outstanding across six currencies. This facilitating role extends across green loans, sustainability-linked bonds, and capital market access for industrial clients undergoing energy transitions.
Beyond its lending activities, Nordea reported a 50% reduction in carbon emissions from its internal operations since 2019, exceeding its 2025 internal goal.
In the investment space, Nordea Asset Management has utilised active ownership to influence global energy practices. Notably, the bank’s engagement through the Oil and Gas Methane Partnership 2.0 has resulted in 15 companies joining the framework to measure and disclose methane emissions.
As the bank moves into the next phase of its climate strategy, the focus remains on supporting transition plans for customers at various stages of maturity, ensuring that financial offerings evolve alongside the rising demand for low-carbon capital.
