Nordea has announced a long-term objective to become a net zero emissions bank by 2050.

Nordea has set a mid-term objective to reduce carbon emissions from its lending and investment portfolios by 40-50% by 2030. The bank will also reduce its internal carbon emissions by at least 50% and achieve net positive carbon contribution by 2030. Nordea has also said its wealth and asset management business aims to be 100% ESG in as little as 5 years.

“We will deliver on our targets by supporting and working together with our customers towards sustainable development and ensure that we have a plan for sectors where the climate impact is significant”, says President and Group CEO Frank Vang-Jensen.