Sustainability governance structure : vimarsana.com

Transforming our sustainability governance model
Nordea’s sustainability governance structure dates from a couple of years back. In June 2020, a group-wide task force was appointed with the purpose of identifying improvements in terms of managing sustainability in general and ESG and climate-related risks in partic­ular following heightened expectations from supervisors and regulators. The outcome of the task force’s work was a five-year action plan. The first step is to revise the ESG risk definitions in our risk taxonomy to consider ESG factors as drivers of the existing risk categories – including credit risk, market risk, liquidi­ty risk and operational risk – and to fur­ther incorporate them into the existing risk management framework. To sup­port this approach, we decided to modify our sustainability governance model to tie sustainability and risk clos­er together.

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