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  • Overall approach
    7/10
    • Overarching commitment on deforestation
      4/6
      Deforestation-free commitment
      4/6
      "We recognize the vital role forests play in climate change mitigation, biodiversity protection and in supporting livelihoods. Therefore, we expect all relevant companies in our portfolio that are involved in the production, trade, use or financing of forest-risk commodities, particularly palm oil, soya, timber and cattle products, to commit to eliminating deforestation and the loss of other valuable ecosystems from their operations and supply chains. Sufficient measures include, but should not be limited to, implementing a strong governance framework which clearly articulates the board’s accountability for and oversight of deforestation risks and ensures traceability of forest-risk commodities."
    • Deforestation as a business risk
      2/2
      Yes
      2/2
      Is the financial risk recognised by the financial institution reputational, financial, material, etc.?: financial 

      How is awareness shown?: Signatory to the BEIs Soft Commodity Compact or another finance sector initiative on deforestation; Statement on deforestation/conversion showing understanding of risks to the financial institution
      "Biodiversity loss is a systemic risk. Nature is being eroded at rates unprecedented in human history and we are facing the irreversible loss of plant and animal species, habitats and vital crops. Biodiversity affects our food and medicine and our environment7 . The continuing loss of biological diversity will cost the global economy several trillion euros by 2050. [...] Agricultural expansion is one of the main drivers of deforestation and the associated loss of biodiversity and soft commodity-driven deforestation presents both sustainability and financial risks for companies in a number of industries including food products, household products, textiles and apparel."
    • Target to reduce emissions in scope 1/2
      Yes
      0/0
      Type of climate target: Net-zero emissions

      What is the target date for the financial institution to achieve their climate target?: 2030 2050
      "we have committed to a mid-term goal of reducing carbon emissions across our investment portfolios by 50% by 2030." [...] "achieve net zero emissions by the end of 2050"
    • Company must have anti-corruption policy
      1/2
      Yes, either an anti-corruption policy or a policy on prohibiting abusive tax arrangements
      1/2
      "Our funds are subject to a recurring norms-based screening which identifies companies allegedly involved in breaches of international law, environmental protection norms, human rights, labour standards, and anti-corruption." [...] "As investors we demand that business take a proactive approach towards corruption, implement adequate anticorruption measures and improve transparency."
  • Commodity score
    38/90
    • Beef & Leather
      38/90
      • Commitment Strength
        14/31
        • Commodity-specific deforestation financing policy
          7.6/9.6
          • Commitment details
            Zero-gross deforestation
            6/8
            Commitment details
            Zero-gross deforestation
            6/8
            "We recognize the vital role forests play in climate change mitigation, biodiversity protection and in supporting livelihoods. Therefore, we expect all relevant companies in our portfolio that are involved in the production, trade, use or financing of forest-risk commodities, particularly palm oil, soya, timber and cattle products, to commit to eliminating deforestation and the loss of other valuable ecosystems from their operations and supply chains. Sufficient measures include, but should not be limited to, implementing a strong governance framework which clearly articulates the board’s accountability for and oversight of deforestation risks and ensures traceability of forest-risk commodities."
          • Policy applies to all operations and financing
            All financing
            0.4/0.4
            Policy applies to all operations and financing
            All financing
            0.4/0.4
            "We recognize the vital role forests play in climate change mitigation, biodiversity protection and in supporting livelihoods. Therefore, we expect all relevant companies in our portfolio that are involved in the production, trade, use or financing of forest-risk commodities, particularly palm oil, soya, timber and cattle products, to commit to eliminating deforestation and the loss of other valuable ecosystems from their operations and supply chains. Sufficient measures include, but should not be limited to, implementing a strong governance framework which clearly articulates the board’s accountability for and oversight of deforestation risks and ensures traceability of forest-risk commodities."
          • Policy applies to all deals
            All financing
            0.4/0.4
            Policy applies to all deals
            All financing
            0.4/0.4
            "We recognize the vital role forests play in climate change mitigation, biodiversity protection and in supporting livelihoods. Therefore, we expect all relevant companies in our portfolio that are involved in the production, trade, use or financing of forest-risk commodities, particularly palm oil, soya, timber and cattle products, to commit to eliminating deforestation and the loss of other valuable ecosystems from their operations and supply chains. Sufficient measures include, but should not be limited to, implementing a strong governance framework which clearly articulates the board’s accountability for and oversight of deforestation risks and ensures traceability of forest-risk commodities."
          • Policy applies to all companies
            All financing
            0.4/0.4
            Policy applies to all companies
            All financing
            0.4/0.4
            "We recognize the vital role forests play in climate change mitigation, biodiversity protection and in supporting livelihoods. Therefore, we expect all relevant companies in our portfolio that are involved in the production, trade, use or financing of forest-risk commodities, particularly palm oil, soya, timber and cattle products, to commit to eliminating deforestation and the loss of other valuable ecosystems from their operations and supply chains. Sufficient measures include, but should not be limited to, implementing a strong governance framework which clearly articulates the board’s accountability for and oversight of deforestation risks and ensures traceability of forest-risk commodities."
          • Policy applies to all stages of the supply chain
            Producers; Processors; Traders; Manufacturers; Retailers
            0.4/0.4
            Policy applies to all stages of the supply chain
            Producers; Processors; Traders; Manufacturers; Retailers
            0.4/0.4
            "We recognize the vital role forests play in climate change mitigation, biodiversity protection and in supporting livelihoods. Therefore, we expect all relevant companies in our portfolio that are involved in the production, trade, use or financing of forest-risk commodities, particularly palm oil, soya, timber and cattle products, to commit to eliminating deforestation and the loss of other valuable ecosystems from their operations and supply chains. Sufficient measures include, but should not be limited to, implementing a strong governance framework which clearly articulates the board’s accountability for and oversight of deforestation risks and ensures traceability of forest-risk commodities."
        • Companies must be legally operated
          3.1/4.6
          • Commitment details
            Companies own operations - Required
            1.5/3
            Commitment details
            Companies own operations - Required
            1.5/3
            "As a responsible investor we expect that investee companies operate in line with our commitment to the PRI and in observance of existing laws and reg- ulations, international humanitarian law and inter- national conventions, as well as standards for sound environmental, social and governance performance."
          • Policy applies to all operations and financing
            All financing
            0.4/0.4
            Policy applies to all operations and financing
            All financing
            0.4/0.4
            "As a responsible investor we expect that investee companies operate in line with our commitment to the PRI and in observance of existing laws and reg- ulations, international humanitarian law and inter- national conventions, as well as standards for sound environmental, social and governance performance."
          • Policy applies to all deals
            All financing
            0.4/0.4
            Policy applies to all deals
            All financing
            0.4/0.4
            "As a responsible investor we expect that investee companies operate in line with our commitment to the PRI and in observance of existing laws and reg- ulations, international humanitarian law and inter- national conventions, as well as standards for sound environmental, social and governance performance."
          • Policy applies to all companies
            All financing
            0.4/0.4
            Policy applies to all companies
            All financing
            0.4/0.4
            "As a responsible investor we expect that investee companies operate in line with our commitment to the PRI and in observance of existing laws and reg- ulations, international humanitarian law and inter- national conventions, as well as standards for sound environmental, social and governance performance."
          • Policy applies to all stages of the supply chain
            Producers; Processors; Traders; Manufacturers; Retailers
            0.4/0.4
            Policy applies to all stages of the supply chain
            Producers; Processors; Traders; Manufacturers; Retailers
            0.4/0.4
            "As a responsible investor we expect that investee companies operate in line with our commitment to the PRI and in observance of existing laws and reg- ulations, international humanitarian law and inter- national conventions, as well as standards for sound environmental, social and governance performance."
        • Companies must monitor operations
          3.6/5.6
          • Commitment details
            Encouraged
            2/4
            Commitment details
            Encouraged
            2/4
            Type of policy: Commitment to monitor or audit operations or suppliers; Traceability system
            "We expect all relevant companies in our investment portfolios involved in production, trade, use or financing of forest-risk commodities, particularly palm oil, soy, timber and cattle products, to commit to eliminate deforestation and the loss of other valuable ecosystems from their operations and supply chains. Sufficient measures include, but should not be limited to, implementing a strong governance framework which clearly articulates the investee company board’ accountability for and oversight of deforestation risks, and ensures traceability of forest-risk commodities. [...] We expect companies affected by these risks to ensure that they report on how they manage the related risks and impacts adequately." 
          • Policy applies to all operations and financing
            All financing
            0.4/0.4
            Policy applies to all operations and financing
            All financing
            0.4/0.4
            "We expect all relevant companies in our investment portfolios involved in production, trade, use or financing of forest-risk commodities, particularly palm oil, soy, timber and cattle products, to commit to eliminate deforestation and the loss of other valuable ecosystems from their operations and supply chains. Sufficient measures include, but should not be limited to, implementing a strong governance framework which clearly articulates the investee company board’ accountability for and oversight of deforestation risks, and ensures traceability of forest-risk commodities. [...] We expect companies affected by these risks to ensure that they report on how they manage the related risks and impacts adequately." 
          • Policy applies to all deals
            All financing
            0.4/0.4
            Policy applies to all deals
            All financing
            0.4/0.4
            "We expect all relevant companies in our investment portfolios involved in production, trade, use or financing of forest-risk commodities, particularly palm oil, soy, timber and cattle products, to commit to eliminate deforestation and the loss of other valuable ecosystems from their operations and supply chains. Sufficient measures include, but should not be limited to, implementing a strong governance framework which clearly articulates the investee company board’ accountability for and oversight of deforestation risks, and ensures traceability of forest-risk commodities. [...] We expect companies affected by these risks to ensure that they report on how they manage the related risks and impacts adequately." 
          • Policy applies to all companies
            All financing
            0.4/0.4
            Policy applies to all companies
            All financing
            0.4/0.4
            "We expect all relevant companies in our investment portfolios involved in production, trade, use or financing of forest-risk commodities, particularly palm oil, soy, timber and cattle products, to commit to eliminate deforestation and the loss of other valuable ecosystems from their operations and supply chains. Sufficient measures include, but should not be limited to, implementing a strong governance framework which clearly articulates the investee company board’ accountability for and oversight of deforestation risks, and ensures traceability of forest-risk commodities. [...] We expect companies affected by these risks to ensure that they report on how they manage the related risks and impacts adequately." 
          • Policy applies to all stages of the supply chain
            Producers; Processors; Traders; Manufacturers; Retailers
            0.4/0.4
            Policy applies to all stages of the supply chain
            Producers; Processors; Traders; Manufacturers; Retailers
            0.4/0.4
            "We expect all relevant companies in our investment portfolios involved in production, trade, use or financing of forest-risk commodities, particularly palm oil, soy, timber and cattle products, to commit to eliminate deforestation and the loss of other valuable ecosystems from their operations and supply chains. Sufficient measures include, but should not be limited to, implementing a strong governance framework which clearly articulates the investee company board’ accountability for and oversight of deforestation risks, and ensures traceability of forest-risk commodities. [...] We expect companies affected by these risks to ensure that they report on how they manage the related risks and impacts adequately." 
        • Companies must conduct risk assessments
          0/5.6
          • Commitment details
            No
            0/4
          • Policy applies to all operations and financing
            No
            0/0.4
          • Policy applies to all deals
            No
            0/0.4
          • Policy applies to all companies
            No
            0/0.4
          • Policy applies to all stages of the supply chain
            None
            0/0.4
        • Companies must specify a cut-off date
          0/5.6
          • Commitment details
            No
            0/4
          • Policy applies to all operations and financing
            No
            0/0.4
          • Policy applies to all deals
            No
            0/0.4
          • Policy applies to all companies
            No
            0/0.4
          • Policy applies to all stages of the supply chain
            None
            0/0.4
      • Social Considerations
        10/27
        • Company must ensure Free, Prior and Informed Consent
          5.2/5.6
          • Commitment details
            Required
            4/4
            Commitment details
            Required
            4/4
            "Nordea expects clients and portfolio companies to adhere to national laws and regulations, follow and respect internationally recognized norms and standards in their operations and refrain from any involvement in operations in areas protected by international conventions, and respect the objectives and rights with regards to children, indigenous people, workers, modern slavery, environment, biological diversity and wildlife as inter alia expressed in; [...] the principle of Free, Prior and informed Consent (FPIC), as defined by the United Nations Permanent Forum on Indigenous Issues, in their operations with respect to the fair and equal use of forests and acquisition of land and land use"
          • Policy applies to all operations and financing
            No
            0/0.4
            Policy applies to all operations and financing
            No
            0/0.4
            "Nordea expects clients and portfolio companies to adhere to national laws and regulations, follow and respect internationally recognized norms and standards in their operations and refrain from any involvement in operations in areas protected by international conventions, and respect the objectives and rights with regards to children, indigenous people, workers, modern slavery, environment, biological diversity and wildlife as inter alia expressed in; [...] the principle of Free, Prior and informed Consent (FPIC), as defined by the United Nations Permanent Forum on Indigenous Issues, in their operations with respect to the fair and equal use of forests and acquisition of land and land use"
          • Policy applies to all deals
            All financing
            0.4/0.4
            Policy applies to all deals
            All financing
            0.4/0.4
            "Nordea expects clients and portfolio companies to adhere to national laws and regulations, follow and respect internationally recognized norms and standards in their operations and refrain from any involvement in operations in areas protected by international conventions, and respect the objectives and rights with regards to children, indigenous people, workers, modern slavery, environment, biological diversity and wildlife as inter alia expressed in; [...] the principle of Free, Prior and informed Consent (FPIC), as defined by the United Nations Permanent Forum on Indigenous Issues, in their operations with respect to the fair and equal use of forests and acquisition of land and land use"
          • Policy applies to all companies
            All financing
            0.4/0.4
            Policy applies to all companies
            All financing
            0.4/0.4
            "Nordea expects clients and portfolio companies to adhere to national laws and regulations, follow and respect internationally recognized norms and standards in their operations and refrain from any involvement in operations in areas protected by international conventions, and respect the objectives and rights with regards to children, indigenous people, workers, modern slavery, environment, biological diversity and wildlife as inter alia expressed in; [...] the principle of Free, Prior and informed Consent (FPIC), as defined by the United Nations Permanent Forum on Indigenous Issues, in their operations with respect to the fair and equal use of forests and acquisition of land and land use"
          • Policy applies to all stages of the supply chain
            Producers; Processors; Traders; Manufacturers; Retailers
            0.4/0.4
            Policy applies to all stages of the supply chain
            Producers; Processors; Traders; Manufacturers; Retailers
            0.4/0.4
            "Nordea expects clients and portfolio companies to adhere to national laws and regulations, follow and respect internationally recognized norms and standards in their operations and refrain from any involvement in operations in areas protected by international conventions, and respect the objectives and rights with regards to children, indigenous people, workers, modern slavery, environment, biological diversity and wildlife as inter alia expressed in; [...] the principle of Free, Prior and informed Consent (FPIC), as defined by the United Nations Permanent Forum on Indigenous Issues, in their operations with respect to the fair and equal use of forests and acquisition of land and land use"
        • Companies must have a grievance mechanism
          0/5.6
          • Commitment details
            No
            0/4
          • Policy applies to all operations and financing
            No
            0/0.4
          • Policy applies to all deals
            No
            0/0.4
          • Policy applies to all companies
            No
            0/0.4
          • Policy applies to all stages of the supply chain
            None
            0/0.4
        • Company must respect labour rights
          5.6/5.6
          • Commitment details
            Companies entire supply chain - Required
            4/4
            Commitment details
            Companies entire supply chain - Required
            4/4
            Does the financial institution ask the company to protect the health and safety of its own operations or its supply chain workers?: No

            Type of policy: ILO; UNGP; UN Declaration of HR; Discrimination; Forced Labour; Child Labour; Freedom of Association
            "Our Responsible Investment Policy aims for the companies we invest in to support the United Nations Sustainable Development Goals (SDG’s) and comply with international conventions and norms, including, but not limited to: [...] Universal Declaration of Human RightsUN Guiding Principles on Business andHuman Rights [...] ILO conventions on labour standards [...] We expect companies to obey internationally recognized human rights principles and to prevent and manage their impact on human rights. Human rights related issues include complicity in human right abuses, modern slavery and child labour, occupational safety and health, the rights of indigenous people and displacement of local communities, freedom of association and collective bargaining and international humanitarian law. The expectations in these areas apply both to our investee companies themselves and to their supply chains."
          • Policy applies to all operations and financing
            All financing
            0.4/0.4
            Policy applies to all operations and financing
            All financing
            0.4/0.4
            "Our Responsible Investment Policy aims for the companies we invest in to support the United Nations Sustainable Development Goals (SDG’s) and comply with international conventions and norms, including, but not limited to: [...] Universal Declaration of Human RightsUN Guiding Principles on Business andHuman Rights [...] ILO conventions on labour standards [...] We expect companies to obey internationally recognized human rights principles and to prevent and manage their impact on human rights. Human rights related issues include complicity in human right abuses, modern slavery and child labour, occupational safety and health, the rights of indigenous people and displacement of local communities, freedom of association and collective bargaining and international humanitarian law. The expectations in these areas apply both to our investee companies themselves and to their supply chains."
          • Policy applies to all deals
            All financing
            0.4/0.4
            Policy applies to all deals
            All financing
            0.4/0.4
            "Our Responsible Investment Policy aims for the companies we invest in to support the United Nations Sustainable Development Goals (SDG’s) and comply with international conventions and norms, including, but not limited to: [...] Universal Declaration of Human RightsUN Guiding Principles on Business andHuman Rights [...] ILO conventions on labour standards [...] We expect companies to obey internationally recognized human rights principles and to prevent and manage their impact on human rights. Human rights related issues include complicity in human right abuses, modern slavery and child labour, occupational safety and health, the rights of indigenous people and displacement of local communities, freedom of association and collective bargaining and international humanitarian law. The expectations in these areas apply both to our investee companies themselves and to their supply chains."
          • Policy applies to all companies
            All financing
            0.4/0.4
            Policy applies to all companies
            All financing
            0.4/0.4
            "Our Responsible Investment Policy aims for the companies we invest in to support the United Nations Sustainable Development Goals (SDG’s) and comply with international conventions and norms, including, but not limited to: [...] Universal Declaration of Human RightsUN Guiding Principles on Business andHuman Rights [...] ILO conventions on labour standards [...] We expect companies to obey internationally recognized human rights principles and to prevent and manage their impact on human rights. Human rights related issues include complicity in human right abuses, modern slavery and child labour, occupational safety and health, the rights of indigenous people and displacement of local communities, freedom of association and collective bargaining and international humanitarian law. The expectations in these areas apply both to our investee companies themselves and to their supply chains."
          • Policy applies to all stages of the supply chain
            Producers; Processors; Traders; Manufacturers; Retailers
            0.4/0.4
            Policy applies to all stages of the supply chain
            Producers; Processors; Traders; Manufacturers; Retailers
            0.4/0.4
            "Our Responsible Investment Policy aims for the companies we invest in to support the United Nations Sustainable Development Goals (SDG’s) and comply with international conventions and norms, including, but not limited to: [...] Universal Declaration of Human RightsUN Guiding Principles on Business andHuman Rights [...] ILO conventions on labour standards [...] We expect companies to obey internationally recognized human rights principles and to prevent and manage their impact on human rights. Human rights related issues include complicity in human right abuses, modern slavery and child labour, occupational safety and health, the rights of indigenous people and displacement of local communities, freedom of association and collective bargaining and international humanitarian law. The expectations in these areas apply both to our investee companies themselves and to their supply chains."
        • Company must address gender equality issues
          0/5.6
          • Commitment details
            No
            0/4
          • Policy applies to all operations and financing
            No
            0/0.4
          • Policy applies to all deals
            No
            0/0.4
          • Policy applies to all companies
            No
            0/0.4
          • Policy applies to all stages of the supply chain
            None
            0/0.4
        • Companies must encourage the inclusion of small-scale farmers
          0/5.6
          • Commitment details
            No
            0/4
          • Policy applies to all operations and financing
            No
            0/0.4
          • Policy applies to all deals
            No
            0/0.4
          • Policy applies to all companies
            No
            0/0.4
          • Policy applies to all stages of the supply chain
            None
            0/0.4
        • Companies must resolve land conflicts
          0/1.6
          • Commitment details
            No
          • Policy applies to all operations and financing
            No
            0/0.4
          • Policy applies to all deals
            No
            0/0.4
          • Policy applies to all companies
            No
            0/0.4
          • Policy applies to all stages of the supply chain
            None
            0/0.4
      • Reporting and Implementation
        14/31
        • Commitments must be timebound
          No
          0/5
        • Companies must disclose subsidiaries in commodity supply chains
          No
          0/4
        • Companies must disclose locations
          No
          0/4
        • Policy is reviewed and updated
          Annual or more frequent review
          2/2
          Policy is reviewed and updated
          Annual or more frequent review
          2/2
          "The policy has been approved by, respectively, the board of directors of Nordea Funds and the board of the Danish Nordea Invest fund associations. This policy is reviewed at least annually."
        • Monitoring and non-compliance process
          Screening and monitoring process
          5/5
          Monitoring and non-compliance process
          Screening and monitoring process
          5/5
          "Our funds are subject to a recurring norms-based screening which identifies companies allegedly involved in breaches of international law, environmental protection norms, human rights, labour standards, and anti-corruption. If a company is identified based on the norms-based screening to be breaking international norms an assessment of the company will be initiated to consider actions to be taken. Typical actions are engagement, quarantine or exclusion."
        • Engagement with non-compliant companies
          Engage with non-compliant companies with a time-bound threat of divestment
          5/5
          Engagement with non-compliant companies
          Engage with non-compliant companies with a time-bound threat of divestment
          5/5
          "Our funds are subject to a recurring norms-based screening which identifies companies allegedly involved in breaches of international law, environmental protection norms, human rights, labour standards, and anti-corruption. If a company is identified based on the norms-based screening to be breaking international norms an assessment of the company will be initiated to consider actions to be taken. Typical actions are engagement, quarantine or exclusion.[...] NAM excludes companies involved in serious breaches of international norms where engagement is deemed not to be possible or effective"
        • Reporting on implementation of the policy
          Reports number/proportion of portfolio companies compliant with the deforestation policy or their own timebound plans
          2/6
          Reporting on implementation of the policy
          Reports number/proportion of portfolio companies compliant with the deforestation policy or their own timebound plans
          2/6
          Proportion of $/portfolio: unclear

          Type of reporting: Published exclusion lists
          "The NAM-level exclusion list can be found here . Last updated July 2021"
        • Ethical product in portfolio
          No
    • Palm oil
      38/90
      • Commitment Strength
        14/31
        • Commodity-specific deforestation financing policy
          7.6/9.6
          • Commitment details
            Zero-gross deforestation
            6/8
            Commitment details
            Zero-gross deforestation
            6/8
            "We recognize the vital role forests play in climate change mitigation, biodiversity protection and in supporting livelihoods. Therefore, we expect all relevant companies in our portfolio that are involved in the production, trade, use or financing of forest-risk commodities, particularly palm oil, soya, timber and cattle products, to commit to eliminating deforestation and the loss of other valuable ecosystems from their operations and supply chains. Sufficient measures include, but should not be limited to, implementing a strong governance framework which clearly articulates the board’s accountability for and oversight of deforestation risks and ensures traceability of forest-risk commodities."
          • Policy applies to all operations and financing
            All financing
            0.4/0.4
            Policy applies to all operations and financing
            All financing
            0.4/0.4
            "We recognize the vital role forests play in climate change mitigation, biodiversity protection and in supporting livelihoods. Therefore, we expect all relevant companies in our portfolio that are involved in the production, trade, use or financing of forest-risk commodities, particularly palm oil, soya, timber and cattle products, to commit to eliminating deforestation and the loss of other valuable ecosystems from their operations and supply chains. Sufficient measures include, but should not be limited to, implementing a strong governance framework which clearly articulates the board’s accountability for and oversight of deforestation risks and ensures traceability of forest-risk commodities."
          • Policy applies to all deals
            All financing
            0.4/0.4
            Policy applies to all deals
            All financing
            0.4/0.4
            "We recognize the vital role forests play in climate change mitigation, biodiversity protection and in supporting livelihoods. Therefore, we expect all relevant companies in our portfolio that are involved in the production, trade, use or financing of forest-risk commodities, particularly palm oil, soya, timber and cattle products, to commit to eliminating deforestation and the loss of other valuable ecosystems from their operations and supply chains. Sufficient measures include, but should not be limited to, implementing a strong governance framework which clearly articulates the board’s accountability for and oversight of deforestation risks and ensures traceability of forest-risk commodities."
          • Policy applies to all companies
            All financing
            0.4/0.4
            Policy applies to all companies
            All financing
            0.4/0.4
            "We recognize the vital role forests play in climate change mitigation, biodiversity protection and in supporting livelihoods. Therefore, we expect all relevant companies in our portfolio that are involved in the production, trade, use or financing of forest-risk commodities, particularly palm oil, soya, timber and cattle products, to commit to eliminating deforestation and the loss of other valuable ecosystems from their operations and supply chains. Sufficient measures include, but should not be limited to, implementing a strong governance framework which clearly articulates the board’s accountability for and oversight of deforestation risks and ensures traceability of forest-risk commodities."
          • Policy applies to all stages of the supply chain
            Producers; Processors; Traders; Manufacturers; Retailers
            0.4/0.4
            Policy applies to all stages of the supply chain
            Producers; Processors; Traders; Manufacturers; Retailers
            0.4/0.4
            "We recognize the vital role forests play in climate change mitigation, biodiversity protection and in supporting livelihoods. Therefore, we expect all relevant companies in our portfolio that are involved in the production, trade, use or financing of forest-risk commodities, particularly palm oil, soya, timber and cattle products, to commit to eliminating deforestation and the loss of other valuable ecosystems from their operations and supply chains. Sufficient measures include, but should not be limited to, implementing a strong governance framework which clearly articulates the board’s accountability for and oversight of deforestation risks and ensures traceability of forest-risk commodities."
        • Companies must be legally operated
          3.1/4.6
          • Commitment details
            Companies own operations - Required
            1.5/3
            Commitment details
            Companies own operations - Required
            1.5/3
            "As a responsible investor we expect that investee companies operate in line with our commitment to the PRI and in observance of existing laws and reg- ulations, international humanitarian law and inter- national conventions, as well as standards for sound environmental, social and governance performance."
          • Policy applies to all operations and financing
            All financing
            0.4/0.4
            Policy applies to all operations and financing
            All financing
            0.4/0.4
            "This policy for Sustainable and Responsible Investment applies to the investments of all funds managed by us and the investments of our funds in equities and corporate bonds. It is the goal to apply the policy as much as possible to indirect investments. [...]  As a responsible investor we expect that investee companies operate in line with our commitment to the PRI and in observance of existing laws and reg- ulations, international humanitarian law and inter- national conventions, as well as standards for sound environmental, social and governance performance." 
          • Policy applies to all deals
            All financing
            0.4/0.4
            Policy applies to all deals
            All financing
            0.4/0.4
            "This policy for Sustainable and Responsible Investment applies to the investments of all funds managed by us and the investments of our funds in equities and corporate bonds. It is the goal to apply the policy as much as possible to indirect investments. [...]  As a responsible investor we expect that investee companies operate in line with our commitment to the PRI and in observance of existing laws and reg- ulations, international humanitarian law and inter- national conventions, as well as standards for sound environmental, social and governance performance." 
          • Policy applies to all companies
            All financing
            0.4/0.4
            Policy applies to all companies
            All financing
            0.4/0.4
            "This policy for Sustainable and Responsible Investment applies to the investments of all funds managed by us and the investments of our funds in equities and corporate bonds. It is the goal to apply the policy as much as possible to indirect investments. [...]  As a responsible investor we expect that investee companies operate in line with our commitment to the PRI and in observance of existing laws and reg- ulations, international humanitarian law and inter- national conventions, as well as standards for sound environmental, social and governance performance." 
          • Policy applies to all stages of the supply chain
            Producers; Processors; Traders; Manufacturers; Retailers
            0.4/0.4
            Policy applies to all stages of the supply chain
            Producers; Processors; Traders; Manufacturers; Retailers
            0.4/0.4
            "This policy for Sustainable and Responsible Investment applies to the investments of all funds managed by us and the investments of our funds in equities and corporate bonds. It is the goal to apply the policy as much as possible to indirect investments. [...]  As a responsible investor we expect that investee companies operate in line with our commitment to the PRI and in observance of existing laws and reg- ulations, international humanitarian law and inter- national conventions, as well as standards for sound environmental, social and governance performance." 
        • Companies must monitor operations
          3.6/5.6
          • Commitment details
            Encouraged
            2/4
            Commitment details
            Encouraged
            2/4
            Type of policy: Commitment to monitor or audit operations or suppliers; Traceability system
            "We expect all relevant companies in our investment portfolios involved in production, trade, use or financing of forest-risk commodities, particularly palm oil, soy, timber and cattle products, to commit to eliminate deforestation and the loss of other valuable ecosystems from their operations and supply chains. Sufficient measures include, but should not be limited to, implementing a strong governance framework which clearly articulates the investee company board’ accountability for and oversight of deforestation risks, and ensures traceability of forest-risk commodities. [...] We expect companies affected by these risks to ensure that they report on how they manage the related risks and impacts adequately." 
          • Policy applies to all operations and financing
            All financing
            0.4/0.4
            Policy applies to all operations and financing
            All financing
            0.4/0.4
            "This policy for Sustainable and Responsible Investment applies to the investments of all funds managed by us and the investments of our funds in equities and corporate bonds. It is the goal to apply the policy as much as possible to indirect investments. [...] "We expect all relevant companies in our investment portfolios involved in production, trade, use or financing of forest-risk commodities, particularly palm oil, soy, timber and cattle products, to commit to eliminate deforestation and the loss of other valuable ecosystems from their operations and supply chains. Sufficient measures include, but should not be limited to, implementing a strong governance framework which clearly articulates the investee company board’ accountability for and oversight of deforestation risks, and ensures traceability of forest-risk commodities. [...] We expect companies affected by these risks to ensure that they report on how they manage the related risks and impacts adequately."
          • Policy applies to all deals
            All financing
            0.4/0.4
            Policy applies to all deals
            All financing
            0.4/0.4
            "We expect all relevant companies in our investment portfolios involved in production, trade, use or financing of forest-risk commodities, particularly palm oil, soy, timber and cattle products, to commit to eliminate deforestation and the loss of other valuable ecosystems from their operations and supply chains. Sufficient measures include, but should not be limited to, implementing a strong governance framework which clearly articulates the investee company board’ accountability for and oversight of deforestation risks, and ensures traceability of forest-risk commodities. [...] We expect companies affected by these risks to ensure that they report on how they manage the related risks and impacts adequately." 
          • Policy applies to all companies
            All financing
            0.4/0.4
            Policy applies to all companies
            All financing
            0.4/0.4
            "We expect all relevant companies in our investment portfolios involved in production, trade, use or financing of forest-risk commodities, particularly palm oil, soy, timber and cattle products, to commit to eliminate deforestation and the loss of other valuable ecosystems from their operations and supply chains. Sufficient measures include, but should not be limited to, implementing a strong governance framework which clearly articulates the investee company board’ accountability for and oversight of deforestation risks, and ensures traceability of forest-risk commodities. [...] We expect companies affected by these risks to ensure that they report on how they manage the related risks and impacts adequately." 
          • Policy applies to all stages of the supply chain
            Producers; Processors; Traders; Manufacturers; Retailers
            0.4/0.4
            Policy applies to all stages of the supply chain
            Producers; Processors; Traders; Manufacturers; Retailers
            0.4/0.4
            "We expect all relevant companies in our investment portfolios involved in production, trade, use or financing of forest-risk commodities, particularly palm oil, soy, timber and cattle products, to commit to eliminate deforestation and the loss of other valuable ecosystems from their operations and supply chains. Sufficient measures include, but should not be limited to, implementing a strong governance framework which clearly articulates the investee company board’ accountability for and oversight of deforestation risks, and ensures traceability of forest-risk commodities. [...] We expect companies affected by these risks to ensure that they report on how they manage the related risks and impacts adequately." 
        • Companies must conduct risk assessments
          0/5.6
          • Commitment details
            No
            0/4
          • Policy applies to all operations and financing
            No
            0/0.4
          • Policy applies to all deals
            No
            0/0.4
          • Policy applies to all companies
            No
            0/0.4
          • Policy applies to all stages of the supply chain
            None
            0/0.4
        • Companies must specify a cut-off date
          0/5.6
          • Commitment details
            No
            0/4
          • Policy applies to all operations and financing
            No
            0/0.4
          • Policy applies to all deals
            No
            0/0.4
          • Policy applies to all companies
            No
            0/0.4
          • Policy applies to all stages of the supply chain
            None
            0/0.4
      • Social Considerations
        10/27
        • Company must ensure Free, Prior and Informed Consent
          5.2/5.6
          • Commitment details
            Required
            4/4
            Commitment details
            Required
            4/4
            "Nordea expects clients and portfolio companies to adhere to national laws and regulations, follow and respect internationally recognized norms and standards in their operations and refrain from any involvement in operations in areas protected by international conventions, and respect the objectives and rights with regards to children, indigenous people, workers, modern slavery, environment, biological diversity and wildlife as inter alia expressed in; [...] the principle of Free, Prior and informed Consent (FPIC), as defined by the United Nations Permanent Forum on Indigenous Issues, in their operations with respect to the fair and equal use of forests and acquisition of land and land use"
          • Policy applies to all operations and financing
            No
            0/0.4
            Policy applies to all operations and financing
            No
            0/0.4
            "Nordea expects clients and portfolio companies to adhere to national laws and regulations, follow and respect internationally recognized norms and standards in their operations and refrain from any involvement in operations in areas protected by international conventions, and respect the objectives and rights with regards to children, indigenous people, workers, modern slavery, environment, biological diversity and wildlife as inter alia expressed in; [...] the principle of Free, Prior and informed Consent (FPIC), as defined by the United Nations Permanent Forum on Indigenous Issues, in their operations with respect to the fair and equal use of forests and acquisition of land and land use"
          • Policy applies to all deals
            All financing
            0.4/0.4
            Policy applies to all deals
            All financing
            0.4/0.4
            "Nordea expects clients and portfolio companies to adhere to national laws and regulations, follow and respect internationally recognized norms and standards in their operations and refrain from any involvement in operations in areas protected by international conventions, and respect the objectives and rights with regards to children, indigenous people, workers, modern slavery, environment, biological diversity and wildlife as inter alia expressed in; [...] the principle of Free, Prior and informed Consent (FPIC), as defined by the United Nations Permanent Forum on Indigenous Issues, in their operations with respect to the fair and equal use of forests and acquisition of land and land use"
          • Policy applies to all companies
            All financing
            0.4/0.4
            Policy applies to all companies
            All financing
            0.4/0.4
            "Nordea expects clients and portfolio companies to adhere to national laws and regulations, follow and respect internationally recognized norms and standards in their operations and refrain from any involvement in operations in areas protected by international conventions, and respect the objectives and rights with regards to children, indigenous people, workers, modern slavery, environment, biological diversity and wildlife as inter alia expressed in; [...] the principle of Free, Prior and informed Consent (FPIC), as defined by the United Nations Permanent Forum on Indigenous Issues, in their operations with respect to the fair and equal use of forests and acquisition of land and land use"
          • Policy applies to all stages of the supply chain
            Producers; Processors; Traders; Manufacturers; Retailers
            0.4/0.4
            Policy applies to all stages of the supply chain
            Producers; Processors; Traders; Manufacturers; Retailers
            0.4/0.4
            "Nordea expects clients and portfolio companies to adhere to national laws and regulations, follow and respect internationally recognized norms and standards in their operations and refrain from any involvement in operations in areas protected by international conventions, and respect the objectives and rights with regards to children, indigenous people, workers, modern slavery, environment, biological diversity and wildlife as inter alia expressed in; [...] the principle of Free, Prior and informed Consent (FPIC), as defined by the United Nations Permanent Forum on Indigenous Issues, in their operations with respect to the fair and equal use of forests and acquisition of land and land use"
        • Companies must have a grievance mechanism
          0/5.6
          • Commitment details
            No
            0/4
          • Policy applies to all operations and financing
            No
            0/0.4
          • Policy applies to all deals
            No
            0/0.4
          • Policy applies to all companies
            No
            0/0.4
          • Policy applies to all stages of the supply chain
            None
            0/0.4
        • Company must respect labour rights
          5.6/5.6
          • Commitment details
            Companies entire supply chain - Required
            4/4
            Commitment details
            Companies entire supply chain - Required
            4/4
            Type of policy: ILO; UNGP; UN Declaration of HR; Discrimination; Forced Labour; Child Labour; Freedom of Association

            Does the financial institution ask the company to protect the health and safety of its own operations or its supply chain workers?: No
            "Our Responsible Investment Policy aims for the companies we invest in to support the United Nations Sustainable Development Goals (SDG’s) and comply with international conventions and norms, including, but not limited to: [...] Universal Declaration of Human RightsUN Guiding Principles on Business andHuman Rights [...] ILO conventions on labour standards [...] We expect companies to obey internationally recognized human rights principles and to prevent and manage their impact on human rights. Human rights related issues include complicity in human right abuses, modern slavery and child labour, occupational safety and health, the rights of indigenous people and displacement of local communities, freedom of association and collective bargaining and international humanitarian law. The expectations in these areas apply both to our investee companies themselves and to their supply chains."
          • Policy applies to all operations and financing
            All financing
            0.4/0.4
            Policy applies to all operations and financing
            All financing
            0.4/0.4
            "Our Responsible Investment Policy aims for the companies we invest in to support the United Nations Sustainable Development Goals (SDG’s) and comply with international conventions and norms, including, but not limited to: [...] Universal Declaration of Human RightsUN Guiding Principles on Business andHuman Rights [...] ILO conventions on labour standards [...] We expect companies to obey internationally recognized human rights principles and to prevent and manage their impact on human rights. Human rights related issues include complicity in human right abuses, modern slavery and child labour, occupational safety and health, the rights of indigenous people and displacement of local communities, freedom of association and collective bargaining and international humanitarian law. The expectations in these areas apply both to our investee companies themselves and to their supply chains."
          • Policy applies to all deals
            All financing
            0.4/0.4
            Policy applies to all deals
            All financing
            0.4/0.4
            "Our Responsible Investment Policy aims for the companies we invest in to support the United Nations Sustainable Development Goals (SDG’s) and comply with international conventions and norms, including, but not limited to: [...] Universal Declaration of Human RightsUN Guiding Principles on Business andHuman Rights [...] ILO conventions on labour standards [...] We expect companies to obey internationally recognized human rights principles and to prevent and manage their impact on human rights. Human rights related issues include complicity in human right abuses, modern slavery and child labour, occupational safety and health, the rights of indigenous people and displacement of local communities, freedom of association and collective bargaining and international humanitarian law. The expectations in these areas apply both to our investee companies themselves and to their supply chains."
          • Policy applies to all companies
            All financing
            0.4/0.4
            Policy applies to all companies
            All financing
            0.4/0.4
            "Our Responsible Investment Policy aims for the companies we invest in to support the United Nations Sustainable Development Goals (SDG’s) and comply with international conventions and norms, including, but not limited to: [...] Universal Declaration of Human RightsUN Guiding Principles on Business andHuman Rights [...] ILO conventions on labour standards [...] We expect companies to obey internationally recognized human rights principles and to prevent and manage their impact on human rights. Human rights related issues include complicity in human right abuses, modern slavery and child labour, occupational safety and health, the rights of indigenous people and displacement of local communities, freedom of association and collective bargaining and international humanitarian law. The expectations in these areas apply both to our investee companies themselves and to their supply chains."
          • Policy applies to all stages of the supply chain
            Producers; Processors; Traders; Manufacturers; Retailers
            0.4/0.4
            Policy applies to all stages of the supply chain
            Producers; Processors; Traders; Manufacturers; Retailers
            0.4/0.4
            "Our Responsible Investment Policy aims for the companies we invest in to support the United Nations Sustainable Development Goals (SDG’s) and comply with international conventions and norms, including, but not limited to: [...] Universal Declaration of Human RightsUN Guiding Principles on Business andHuman Rights [...] ILO conventions on labour standards [...] We expect companies to obey internationally recognized human rights principles and to prevent and manage their impact on human rights. Human rights related issues include complicity in human right abuses, modern slavery and child labour, occupational safety and health, the rights of indigenous people and displacement of local communities, freedom of association and collective bargaining and international humanitarian law. The expectations in these areas apply both to our investee companies themselves and to their supply chains."
        • Company must address gender equality issues
          0/5.6
          • Commitment details
            No
            0/4
          • Policy applies to all operations and financing
            No
            0/0.4
          • Policy applies to all deals
            No
            0/0.4
          • Policy applies to all companies
            No
            0/0.4
          • Policy applies to all stages of the supply chain
            None
            0/0.4
        • Companies must encourage the inclusion of small-scale farmers
          0/5.6
          • Commitment details
            No
            0/4
          • Policy applies to all operations and financing
            No
            0/0.4
          • Policy applies to all deals
            No
            0/0.4
          • Policy applies to all companies
            No
            0/0.4
          • Policy applies to all stages of the supply chain
            None
            0/0.4
        • Companies must resolve land conflicts
          0/1.6
          • Commitment details
            No
          • Policy applies to all operations and financing
            No
            0/0.4
          • Policy applies to all deals
            No
            0/0.4
          • Policy applies to all companies
            No
            0/0.4
          • Policy applies to all stages of the supply chain
            None
            0/0.4
      • Reporting and Implementation
        14/31
        • Commitments must be timebound
          No
          0/5
        • Companies must disclose subsidiaries in commodity supply chains
          No
          0/4
        • Companies must disclose locations
          No
          0/4
        • Policy is reviewed and updated
          Annual or more frequent review
          2/2
          Policy is reviewed and updated
          Annual or more frequent review
          2/2
          "The policy has been approved by, respectively, the board of directors of Nordea Funds and the board of the Danish Nordea Invest fund associations. This policy is reviewed at least annually."
        • Monitoring and non-compliance process
          Screening and monitoring process
          5/5
          Monitoring and non-compliance process
          Screening and monitoring process
          5/5
          "Our funds are subject to a recurring norms-based screening which identifies companies allegedly involved in breaches of international law, environmental protection norms, human rights, labour standards, and anti-corruption. If a company is identified based on the norms-based screening to be breaking international norms an assessment of the company will be initiated to consider actions to be taken. Typical actions are engagement, quarantine or exclusion."
        • Engagement with non-compliant companies
          Engage with non-compliant companies with a time-bound threat of divestment
          5/5
          Engagement with non-compliant companies
          Engage with non-compliant companies with a time-bound threat of divestment
          5/5
          "Our funds are subject to a recurring norms-based screening which identifies companies allegedly involved in breaches of international law, environmental protection norms, human rights, labour standards, and anti-corruption. If a company is identified based on the norms-based screening to be breaking international norms an assessment of the company will be initiated to consider actions to be taken. Typical actions are engagement, quarantine or exclusion.[...] NAM excludes companies involved in serious breaches of international norms where engagement is deemed not to be possible or effective"
        • Reporting on implementation of the policy
          Reports number/proportion of portfolio companies compliant with the deforestation policy or their own timebound plans
          2/6
          Reporting on implementation of the policy
          Reports number/proportion of portfolio companies compliant with the deforestation policy or their own timebound plans
          2/6
          Proportion of $/portfolio: unclear

          Type of reporting: Published exclusion lists
          "The NAM-level exclusion list can be found here . Last updated July 2021"
        • Ethical product in portfolio
          No
    • Soy
      38/90
      • Commitment Strength
        14/31
        • Commodity-specific deforestation financing policy
          7.6/9.6
          • Commitment details
            Zero-gross deforestation
            6/8
            Commitment details
            Zero-gross deforestation
            6/8
            "We recognize the vital role forests play in climate change mitigation, biodiversity protection and in supporting livelihoods. Therefore, we expect all relevant companies in our portfolio that are involved in the production, trade, use or financing of forest-risk commodities, particularly palm oil, soya, timber and cattle products, to commit to eliminating deforestation and the loss of other valuable ecosystems from their operations and supply chains. Sufficient measures include, but should not be limited to, implementing a strong governance framework which clearly articulates the board’s accountability for and oversight of deforestation risks and ensures traceability of forest-risk commodities."
          • Policy applies to all operations and financing
            All financing
            0.4/0.4
            Policy applies to all operations and financing
            All financing
            0.4/0.4
            "We recognize the vital role forests play in climate change mitigation, biodiversity protection and in supporting livelihoods. Therefore, we expect all relevant companies in our portfolio that are involved in the production, trade, use or financing of forest-risk commodities, particularly palm oil, soya, timber and cattle products, to commit to eliminating deforestation and the loss of other valuable ecosystems from their operations and supply chains. Sufficient measures include, but should not be limited to, implementing a strong governance framework which clearly articulates the board’s accountability for and oversight of deforestation risks and ensures traceability of forest-risk commodities."
          • Policy applies to all deals
            All financing
            0.4/0.4
            Policy applies to all deals
            All financing
            0.4/0.4
            "We recognize the vital role forests play in climate change mitigation, biodiversity protection and in supporting livelihoods. Therefore, we expect all relevant companies in our portfolio that are involved in the production, trade, use or financing of forest-risk commodities, particularly palm oil, soya, timber and cattle products, to commit to eliminating deforestation and the loss of other valuable ecosystems from their operations and supply chains. Sufficient measures include, but should not be limited to, implementing a strong governance framework which clearly articulates the board’s accountability for and oversight of deforestation risks and ensures traceability of forest-risk commodities."
          • Policy applies to all companies
            All financing
            0.4/0.4
            Policy applies to all companies
            All financing
            0.4/0.4
            "We recognize the vital role forests play in climate change mitigation, biodiversity protection and in supporting livelihoods. Therefore, we expect all relevant companies in our portfolio that are involved in the production, trade, use or financing of forest-risk commodities, particularly palm oil, soya, timber and cattle products, to commit to eliminating deforestation and the loss of other valuable ecosystems from their operations and supply chains. Sufficient measures include, but should not be limited to, implementing a strong governance framework which clearly articulates the board’s accountability for and oversight of deforestation risks and ensures traceability of forest-risk commodities."
          • Policy applies to all stages of the supply chain
            Producers; Processors; Traders; Manufacturers; Retailers
            0.4/0.4
            Policy applies to all stages of the supply chain
            Producers; Processors; Traders; Manufacturers; Retailers
            0.4/0.4
            "We recognize the vital role forests play in climate change mitigation, biodiversity protection and in supporting livelihoods. Therefore, we expect all relevant companies in our portfolio that are involved in the production, trade, use or financing of forest-risk commodities, particularly palm oil, soya, timber and cattle products, to commit to eliminating deforestation and the loss of other valuable ecosystems from their operations and supply chains. Sufficient measures include, but should not be limited to, implementing a strong governance framework which clearly articulates the board’s accountability for and oversight of deforestation risks and ensures traceability of forest-risk commodities."
        • Companies must be legally operated
          3.1/4.6
          • Commitment details
            Companies own operations - Required
            1.5/3
            Commitment details
            Companies own operations - Required
            1.5/3
            "As a responsible investor we expect that investee companies operate in line with our commitment to the PRI and in observance of existing laws and reg- ulations, international humanitarian law and inter- national conventions, as well as standards for sound environmental, social and governance performance."
          • Policy applies to all operations and financing
            All financing
            0.4/0.4
            Policy applies to all operations and financing
            All financing
            0.4/0.4
            "As a responsible investor we expect that investee companies operate in line with our commitment to the PRI and in observance of existing laws and reg- ulations, international humanitarian law and inter- national conventions, as well as standards for sound environmental, social and governance performance."
          • Policy applies to all deals
            All financing
            0.4/0.4
            Policy applies to all deals
            All financing
            0.4/0.4
            "As a responsible investor we expect that investee companies operate in line with our commitment to the PRI and in observance of existing laws and reg- ulations, international humanitarian law and inter- national conventions, as well as standards for sound environmental, social and governance performance."
          • Policy applies to all companies
            All financing
            0.4/0.4
            Policy applies to all companies
            All financing
            0.4/0.4
            "As a responsible investor we expect that investee companies operate in line with our commitment to the PRI and in observance of existing laws and reg- ulations, international humanitarian law and inter- national conventions, as well as standards for sound environmental, social and governance performance."
          • Policy applies to all stages of the supply chain
            Producers; Processors; Traders; Manufacturers; Retailers
            0.4/0.4
            Policy applies to all stages of the supply chain
            Producers; Processors; Traders; Manufacturers; Retailers
            0.4/0.4
            "As a responsible investor we expect that investee companies operate in line with our commitment to the PRI and in observance of existing laws and reg- ulations, international humanitarian law and inter- national conventions, as well as standards for sound environmental, social and governance performance."
        • Companies must monitor operations
          3.6/5.6
          • Commitment details
            Encouraged
            2/4
            Commitment details
            Encouraged
            2/4
            Type of policy: Commitment to monitor or audit operations or suppliers; Traceability system
            "We expect all relevant companies in our investment portfolios involved in production, trade, use or financing of forest-risk commodities, particularly palm oil, soy, timber and cattle products, to commit to eliminate deforestation and the loss of other valuable ecosystems from their operations and supply chains. Sufficient measures include, but should not be limited to, implementing a strong governance framework which clearly articulates the investee company board’ accountability for and oversight of deforestation risks, and ensures traceability of forest-risk commodities. [...] We expect companies affected by these risks to ensure that they report on how they manage the related risks and impacts adequately." 
          • Policy applies to all operations and financing
            All financing
            0.4/0.4
            Policy applies to all operations and financing
            All financing
            0.4/0.4
            "We expect all relevant companies in our investment portfolios involved in production, trade, use or financing of forest-risk commodities, particularly palm oil, soy, timber and cattle products, to commit to eliminate deforestation and the loss of other valuable ecosystems from their operations and supply chains. Sufficient measures include, but should not be limited to, implementing a strong governance framework which clearly articulates the investee company board’ accountability for and oversight of deforestation risks, and ensures traceability of forest-risk commodities. [...] We expect companies affected by these risks to ensure that they report on how they manage the related risks and impacts adequately." 
          • Policy applies to all deals
            All financing
            0.4/0.4
            Policy applies to all deals
            All financing
            0.4/0.4
            "We expect all relevant companies in our investment portfolios involved in production, trade, use or financing of forest-risk commodities, particularly palm oil, soy, timber and cattle products, to commit to eliminate deforestation and the loss of other valuable ecosystems from their operations and supply chains. Sufficient measures include, but should not be limited to, implementing a strong governance framework which clearly articulates the investee company board’ accountability for and oversight of deforestation risks, and ensures traceability of forest-risk commodities. [...] We expect companies affected by these risks to ensure that they report on how they manage the related risks and impacts adequately." 
          • Policy applies to all companies
            All financing
            0.4/0.4
            Policy applies to all companies
            All financing
            0.4/0.4
            "We expect all relevant companies in our investment portfolios involved in production, trade, use or financing of forest-risk commodities, particularly palm oil, soy, timber and cattle products, to commit to eliminate deforestation and the loss of other valuable ecosystems from their operations and supply chains. Sufficient measures include, but should not be limited to, implementing a strong governance framework which clearly articulates the investee company board’ accountability for and oversight of deforestation risks, and ensures traceability of forest-risk commodities. [...] We expect companies affected by these risks to ensure that they report on how they manage the related risks and impacts adequately." 
          • Policy applies to all stages of the supply chain
            Producers; Processors; Traders; Manufacturers; Retailers
            0.4/0.4
            Policy applies to all stages of the supply chain
            Producers; Processors; Traders; Manufacturers; Retailers
            0.4/0.4
            "We expect all relevant companies in our investment portfolios involved in production, trade, use or financing of forest-risk commodities, particularly palm oil, soy, timber and cattle products, to commit to eliminate deforestation and the loss of other valuable ecosystems from their operations and supply chains. Sufficient measures include, but should not be limited to, implementing a strong governance framework which clearly articulates the investee company board’ accountability for and oversight of deforestation risks, and ensures traceability of forest-risk commodities. [...] We expect companies affected by these risks to ensure that they report on how they manage the related risks and impacts adequately." 
        • Companies must conduct risk assessments
          0/5.6
          • Commitment details
            No
            0/4
          • Policy applies to all operations and financing
            No
            0/0.4
          • Policy applies to all deals
            No
            0/0.4
          • Policy applies to all companies
            No
            0/0.4
          • Policy applies to all stages of the supply chain
            None
            0/0.4
        • Companies must specify a cut-off date
          0/5.6
          • Commitment details
            No
            0/4
          • Policy applies to all operations and financing
            No
            0/0.4
          • Policy applies to all deals
            No
            0/0.4
          • Policy applies to all companies
            No
            0/0.4
          • Policy applies to all stages of the supply chain
            None
            0/0.4
      • Social Considerations
        10/27
        • Company must ensure Free, Prior and Informed Consent
          5.2/5.6
          • Commitment details
            Required
            4/4
            Commitment details
            Required
            4/4
            "Nordea expects clients and portfolio companies to adhere to national laws and regulations, follow and respect internationally recognized norms and standards in their operations and refrain from any involvement in operations in areas protected by international conventions, and respect the objectives and rights with regards to children, indigenous people, workers, modern slavery, environment, biological diversity and wildlife as inter alia expressed in; [...] the principle of Free, Prior and informed Consent (FPIC), as defined by the United Nations Permanent Forum on Indigenous Issues, in their operations with respect to the fair and equal use of forests and acquisition of land and land use"
          • Policy applies to all operations and financing
            No
            0/0.4
            Policy applies to all operations and financing
            No
            0/0.4
            "Nordea expects clients and portfolio companies to adhere to national laws and regulations, follow and respect internationally recognized norms and standards in their operations and refrain from any involvement in operations in areas protected by international conventions, and respect the objectives and rights with regards to children, indigenous people, workers, modern slavery, environment, biological diversity and wildlife as inter alia expressed in; [...] the principle of Free, Prior and informed Consent (FPIC), as defined by the United Nations Permanent Forum on Indigenous Issues, in their operations with respect to the fair and equal use of forests and acquisition of land and land use"
          • Policy applies to all deals
            All financing
            0.4/0.4
            Policy applies to all deals
            All financing
            0.4/0.4
            "Nordea expects clients and portfolio companies to adhere to national laws and regulations, follow and respect internationally recognized norms and standards in their operations and refrain from any involvement in operations in areas protected by international conventions, and respect the objectives and rights with regards to children, indigenous people, workers, modern slavery, environment, biological diversity and wildlife as inter alia expressed in; [...] the principle of Free, Prior and informed Consent (FPIC), as defined by the United Nations Permanent Forum on Indigenous Issues, in their operations with respect to the fair and equal use of forests and acquisition of land and land use"
          • Policy applies to all companies
            All financing
            0.4/0.4
            Policy applies to all companies
            All financing
            0.4/0.4
            "Nordea expects clients and portfolio companies to adhere to national laws and regulations, follow and respect internationally recognized norms and standards in their operations and refrain from any involvement in operations in areas protected by international conventions, and respect the objectives and rights with regards to children, indigenous people, workers, modern slavery, environment, biological diversity and wildlife as inter alia expressed in; [...] the principle of Free, Prior and informed Consent (FPIC), as defined by the United Nations Permanent Forum on Indigenous Issues, in their operations with respect to the fair and equal use of forests and acquisition of land and land use"
          • Policy applies to all stages of the supply chain
            Producers; Processors; Traders; Manufacturers; Retailers
            0.4/0.4
            Policy applies to all stages of the supply chain
            Producers; Processors; Traders; Manufacturers; Retailers
            0.4/0.4
            "Nordea expects clients and portfolio companies to adhere to national laws and regulations, follow and respect internationally recognized norms and standards in their operations and refrain from any involvement in operations in areas protected by international conventions, and respect the objectives and rights with regards to children, indigenous people, workers, modern slavery, environment, biological diversity and wildlife as inter alia expressed in; [...] the principle of Free, Prior and informed Consent (FPIC), as defined by the United Nations Permanent Forum on Indigenous Issues, in their operations with respect to the fair and equal use of forests and acquisition of land and land use"
        • Companies must have a grievance mechanism
          0/5.6
          • Commitment details
            No
            0/4
          • Policy applies to all operations and financing
            No
            0/0.4
          • Policy applies to all deals
            No
            0/0.4
          • Policy applies to all companies
            No
            0/0.4
          • Policy applies to all stages of the supply chain
            None
            0/0.4
        • Company must respect labour rights
          5.6/5.6
          • Commitment details
            Companies entire supply chain - Required
            4/4
            Commitment details
            Companies entire supply chain - Required
            4/4
            Type of policy: ILO; UNGP; UN Declaration of HR; Discrimination; Forced Labour; Child Labour; Freedom of Association

            Does the financial institution ask the company to protect the health and safety of its own operations or its supply chain workers?: No
            "Our Responsible Investment Policy aims for the companies we invest in to support the United Nations Sustainable Development Goals (SDG’s) and comply with international conventions and norms, including, but not limited to: [...] Universal Declaration of Human RightsUN Guiding Principles on Business andHuman Rights [...] ILO conventions on labour standards [...] We expect companies to obey internationally recognized human rights principles and to prevent and manage their impact on human rights. Human rights related issues include complicity in human right abuses, modern slavery and child labour, occupational safety and health, the rights of indigenous people and displacement of local communities, freedom of association and collective bargaining and international humanitarian law. The expectations in these areas apply both to our investee companies themselves and to their supply chains."
          • Policy applies to all operations and financing
            All financing
            0.4/0.4
            Policy applies to all operations and financing
            All financing
            0.4/0.4
            "Our Responsible Investment Policy aims for the companies we invest in to support the United Nations Sustainable Development Goals (SDG’s) and comply with international conventions and norms, including, but not limited to: [...] Universal Declaration of Human RightsUN Guiding Principles on Business andHuman Rights [...] ILO conventions on labour standards [...] We expect companies to obey internationally recognized human rights principles and to prevent and manage their impact on human rights. Human rights related issues include complicity in human right abuses, modern slavery and child labour, occupational safety and health, the rights of indigenous people and displacement of local communities, freedom of association and collective bargaining and international humanitarian law. The expectations in these areas apply both to our investee companies themselves and to their supply chains."
          • Policy applies to all deals
            All financing
            0.4/0.4
            Policy applies to all deals
            All financing
            0.4/0.4
            "Our Responsible Investment Policy aims for the companies we invest in to support the United Nations Sustainable Development Goals (SDG’s) and comply with international conventions and norms, including, but not limited to: [...] Universal Declaration of Human RightsUN Guiding Principles on Business andHuman Rights [...] ILO conventions on labour standards [...] We expect companies to obey internationally recognized human rights principles and to prevent and manage their impact on human rights. Human rights related issues include complicity in human right abuses, modern slavery and child labour, occupational safety and health, the rights of indigenous people and displacement of local communities, freedom of association and collective bargaining and international humanitarian law. The expectations in these areas apply both to our investee companies themselves and to their supply chains."
          • Policy applies to all companies
            All financing
            0.4/0.4
            Policy applies to all companies
            All financing
            0.4/0.4
            "Our Responsible Investment Policy aims for the companies we invest in to support the United Nations Sustainable Development Goals (SDG’s) and comply with international conventions and norms, including, but not limited to: [...] Universal Declaration of Human RightsUN Guiding Principles on Business andHuman Rights [...] ILO conventions on labour standards [...] We expect companies to obey internationally recognized human rights principles and to prevent and manage their impact on human rights. Human rights related issues include complicity in human right abuses, modern slavery and child labour, occupational safety and health, the rights of indigenous people and displacement of local communities, freedom of association and collective bargaining and international humanitarian law. The expectations in these areas apply both to our investee companies themselves and to their supply chains."
          • Policy applies to all stages of the supply chain
            Producers; Processors; Traders; Manufacturers; Retailers
            0.4/0.4
            Policy applies to all stages of the supply chain
            Producers; Processors; Traders; Manufacturers; Retailers
            0.4/0.4
            "Our Responsible Investment Policy aims for the companies we invest in to support the United Nations Sustainable Development Goals (SDG’s) and comply with international conventions and norms, including, but not limited to: [...] Universal Declaration of Human RightsUN Guiding Principles on Business andHuman Rights [...] ILO conventions on labour standards [...] We expect companies to obey internationally recognized human rights principles and to prevent and manage their impact on human rights. Human rights related issues include complicity in human right abuses, modern slavery and child labour, occupational safety and health, the rights of indigenous people and displacement of local communities, freedom of association and collective bargaining and international humanitarian law. The expectations in these areas apply both to our investee companies themselves and to their supply chains."
        • Company must address gender equality issues
          0/5.6
          • Commitment details
            No
            0/4
          • Policy applies to all operations and financing
            No
            0/0.4
          • Policy applies to all deals
            No
            0/0.4
          • Policy applies to all companies
            No
            0/0.4
          • Policy applies to all stages of the supply chain
            None
            0/0.4
        • Companies must encourage the inclusion of small-scale farmers
          0/5.6
          • Commitment details
            No
            0/4
          • Policy applies to all operations and financing
            No
            0/0.4
          • Policy applies to all deals
            No
            0/0.4
          • Policy applies to all companies
            No
            0/0.4
          • Policy applies to all stages of the supply chain
            None
            0/0.4
        • Companies must resolve land conflicts
          0/1.6
          • Commitment details
            No
          • Policy applies to all operations and financing
            No
            0/0.4
          • Policy applies to all deals
            No
            0/0.4
          • Policy applies to all companies
            No
            0/0.4
          • Policy applies to all stages of the supply chain
            None
            0/0.4
      • Reporting and Implementation
        14/31
        • Commitments must be timebound
          No
          0/5
        • Companies must disclose subsidiaries in commodity supply chains
          No
          0/4
        • Companies must disclose locations
          No
          0/4
        • Policy is reviewed and updated
          Annual or more frequent review
          2/2
          Policy is reviewed and updated
          Annual or more frequent review
          2/2
          "The policy has been approved by, respectively, the board of directors of Nordea Funds and the board of the Danish Nordea Invest fund associations. This policy is reviewed at least annually."
        • Monitoring and non-compliance process
          Screening and monitoring process
          5/5
          Monitoring and non-compliance process
          Screening and monitoring process
          5/5
          "Our funds are subject to a recurring norms-based screening which identifies companies allegedly involved in breaches of international law, environmental protection norms, human rights, labour standards, and anti-corruption. If a company is identified based on the norms-based screening to be breaking international norms an assessment of the company will be initiated to consider actions to be taken. Typical actions are engagement, quarantine or exclusion."
        • Engagement with non-compliant companies
          Engage with non-compliant companies with a time-bound threat of divestment
          5/5
          Engagement with non-compliant companies
          Engage with non-compliant companies with a time-bound threat of divestment
          5/5
          "Our funds are subject to a recurring norms-based screening which identifies companies allegedly involved in breaches of international law, environmental protection norms, human rights, labour standards, and anti-corruption. If a company is identified based on the norms-based screening to be breaking international norms an assessment of the company will be initiated to consider actions to be taken. Typical actions are engagement, quarantine or exclusion.[...] NAM excludes companies involved in serious breaches of international norms where engagement is deemed not to be possible or effective"
        • Reporting on implementation of the policy
          Reports number/proportion of portfolio companies compliant with the deforestation policy or their own timebound plans
          2/6
          Reporting on implementation of the policy
          Reports number/proportion of portfolio companies compliant with the deforestation policy or their own timebound plans
          2/6
          Type of reporting: Published exclusion lists

          Proportion of $/portfolio: unclear
          "The NAM-level exclusion list can be found here . Last updated July 2021"
        • Ethical product in portfolio
          No
    • Timber, Pulp & Paper
      38/90
      • Commitment Strength
        14/31
        • Commodity-specific deforestation financing policy
          7.6/9.6
          • Commitment details
            Zero-gross deforestation
            6/8
            Commitment details
            Zero-gross deforestation
            6/8
            "We recognize the vital role forests play in climate change mitigation, biodiversity protection and in supporting livelihoods. Therefore, we expect all relevant companies in our portfolio that are involved in the production, trade, use or financing of forest-risk commodities, particularly palm oil, soya, timber and cattle products, to commit to eliminating deforestation and the loss of other valuable ecosystems from their operations and supply chains. Sufficient measures include, but should not be limited to, implementing a strong governance framework which clearly articulates the board’s accountability for and oversight of deforestation risks and ensures traceability of forest-risk commodities."
          • Policy applies to all operations and financing
            All financing
            0.4/0.4
            Policy applies to all operations and financing
            All financing
            0.4/0.4
            "We recognize the vital role forests play in climate change mitigation, biodiversity protection and in supporting livelihoods. Therefore, we expect all relevant companies in our portfolio that are involved in the production, trade, use or financing of forest-risk commodities, particularly palm oil, soya, timber and cattle products, to commit to eliminating deforestation and the loss of other valuable ecosystems from their operations and supply chains. Sufficient measures include, but should not be limited to, implementing a strong governance framework which clearly articulates the board’s accountability for and oversight of deforestation risks and ensures traceability of forest-risk commodities."
          • Policy applies to all deals
            All financing
            0.4/0.4
            Policy applies to all deals
            All financing
            0.4/0.4
            "We recognize the vital role forests play in climate change mitigation, biodiversity protection and in supporting livelihoods. Therefore, we expect all relevant companies in our portfolio that are involved in the production, trade, use or financing of forest-risk commodities, particularly palm oil, soya, timber and cattle products, to commit to eliminating deforestation and the loss of other valuable ecosystems from their operations and supply chains. Sufficient measures include, but should not be limited to, implementing a strong governance framework which clearly articulates the board’s accountability for and oversight of deforestation risks and ensures traceability of forest-risk commodities."
          • Policy applies to all companies
            All financing
            0.4/0.4
            Policy applies to all companies
            All financing
            0.4/0.4
            "We recognize the vital role forests play in climate change mitigation, biodiversity protection and in supporting livelihoods. Therefore, we expect all relevant companies in our portfolio that are involved in the production, trade, use or financing of forest-risk commodities, particularly palm oil, soya, timber and cattle products, to commit to eliminating deforestation and the loss of other valuable ecosystems from their operations and supply chains. Sufficient measures include, but should not be limited to, implementing a strong governance framework which clearly articulates the board’s accountability for and oversight of deforestation risks and ensures traceability of forest-risk commodities."
          • Policy applies to all stages of the supply chain
            Producers; Processors; Traders; Manufacturers; Retailers
            0.4/0.4
            Policy applies to all stages of the supply chain
            Producers; Processors; Traders; Manufacturers; Retailers
            0.4/0.4
            "We recognize the vital role forests play in climate change mitigation, biodiversity protection and in supporting livelihoods. Therefore, we expect all relevant companies in our portfolio that are involved in the production, trade, use or financing of forest-risk commodities, particularly palm oil, soya, timber and cattle products, to commit to eliminating deforestation and the loss of other valuable ecosystems from their operations and supply chains. Sufficient measures include, but should not be limited to, implementing a strong governance framework which clearly articulates the board’s accountability for and oversight of deforestation risks and ensures traceability of forest-risk commodities."
        • Companies must be legally operated
          3.1/4.6
          • Commitment details
            Companies own operations - Required
            1.5/3
            Commitment details
            Companies own operations - Required
            1.5/3
            "As a responsible investor we expect that investee companies operate in line with our commitment to the PRI and in observance of existing laws and reg- ulations, international humanitarian law and inter- national conventions, as well as standards for sound environmental, social and governance performance."
          • Policy applies to all operations and financing
            All financing
            0.4/0.4
            Policy applies to all operations and financing
            All financing
            0.4/0.4
            "As a responsible investor we expect that investee companies operate in line with our commitment to the PRI and in observance of existing laws and reg- ulations, international humanitarian law and inter- national conventions, as well as standards for sound environmental, social and governance performance."
          • Policy applies to all deals
            All financing
            0.4/0.4
            Policy applies to all deals
            All financing
            0.4/0.4
            "As a responsible investor we expect that investee companies operate in line with our commitment to the PRI and in observance of existing laws and reg- ulations, international humanitarian law and inter- national conventions, as well as standards for sound environmental, social and governance performance."
          • Policy applies to all companies
            All financing
            0.4/0.4
            Policy applies to all companies
            All financing
            0.4/0.4
            "As a responsible investor we expect that investee companies operate in line with our commitment to the PRI and in observance of existing laws and reg- ulations, international humanitarian law and inter- national conventions, as well as standards for sound environmental, social and governance performance."
          • Policy applies to all stages of the supply chain
            Producers; Processors; Traders; Manufacturers; Retailers
            0.4/0.4
            Policy applies to all stages of the supply chain
            Producers; Processors; Traders; Manufacturers; Retailers
            0.4/0.4
            "As a responsible investor we expect that investee companies operate in line with our commitment to the PRI and in observance of existing laws and reg- ulations, international humanitarian law and inter- national conventions, as well as standards for sound environmental, social and governance performance."
        • Companies must monitor operations
          3.6/5.6
          • Commitment details
            Encouraged
            2/4
            Commitment details
            Encouraged
            2/4
            Type of policy: Commitment to monitor or audit operations or suppliers; Traceability system
            "We expect all relevant companies in our investment portfolios involved in production, trade, use or financing of forest-risk commodities, particularly palm oil, soy, timber and cattle products, to commit to eliminate deforestation and the loss of other valuable ecosystems from their operations and supply chains. Sufficient measures include, but should not be limited to, implementing a strong governance framework which clearly articulates the investee company board’ accountability for and oversight of deforestation risks, and ensures traceability of forest-risk commodities. [...] We expect companies affected by these risks to ensure that they report on how they manage the related risks and impacts adequately." 
          • Policy applies to all operations and financing
            All financing
            0.4/0.4
            Policy applies to all operations and financing
            All financing
            0.4/0.4
            "We expect all relevant companies in our investment portfolios involved in production, trade, use or financing of forest-risk commodities, particularly palm oil, soy, timber and cattle products, to commit to eliminate deforestation and the loss of other valuable ecosystems from their operations and supply chains. Sufficient measures include, but should not be limited to, implementing a strong governance framework which clearly articulates the investee company board’ accountability for and oversight of deforestation risks, and ensures traceability of forest-risk commodities. [...] We expect companies affected by these risks to ensure that they report on how they manage the related risks and impacts adequately." 
          • Policy applies to all deals
            All financing
            0.4/0.4
            Policy applies to all deals
            All financing
            0.4/0.4
            "We expect all relevant companies in our investment portfolios involved in production, trade, use or financing of forest-risk commodities, particularly palm oil, soy, timber and cattle products, to commit to eliminate deforestation and the loss of other valuable ecosystems from their operations and supply chains. Sufficient measures include, but should not be limited to, implementing a strong governance framework which clearly articulates the investee company board’ accountability for and oversight of deforestation risks, and ensures traceability of forest-risk commodities. [...] We expect companies affected by these risks to ensure that they report on how they manage the related risks and impacts adequately." 
          • Policy applies to all companies
            All financing
            0.4/0.4
            Policy applies to all companies
            All financing
            0.4/0.4
            "We expect all relevant companies in our investment portfolios involved in production, trade, use or financing of forest-risk commodities, particularly palm oil, soy, timber and cattle products, to commit to eliminate deforestation and the loss of other valuable ecosystems from their operations and supply chains. Sufficient measures include, but should not be limited to, implementing a strong governance framework which clearly articulates the investee company board’ accountability for and oversight of deforestation risks, and ensures traceability of forest-risk commodities. [...] We expect companies affected by these risks to ensure that they report on how they manage the related risks and impacts adequately." 
          • Policy applies to all stages of the supply chain
            Producers; Processors; Traders; Manufacturers; Retailers
            0.4/0.4
            Policy applies to all stages of the supply chain
            Producers; Processors; Traders; Manufacturers; Retailers
            0.4/0.4
            "We expect all relevant companies in our investment portfolios involved in production, trade, use or financing of forest-risk commodities, particularly palm oil, soy, timber and cattle products, to commit to eliminate deforestation and the loss of other valuable ecosystems from their operations and supply chains. Sufficient measures include, but should not be limited to, implementing a strong governance framework which clearly articulates the investee company board’ accountability for and oversight of deforestation risks, and ensures traceability of forest-risk commodities. [...] We expect companies affected by these risks to ensure that they report on how they manage the related risks and impacts adequately." 
        • Companies must conduct risk assessments
          0/5.6
          • Commitment details
            No
            0/4
          • Policy applies to all operations and financing
            No
            0/0.4
          • Policy applies to all deals
            No
            0/0.4
          • Policy applies to all companies
            No
            0/0.4
          • Policy applies to all stages of the supply chain
            None
            0/0.4
        • Companies must specify a cut-off date
          0/5.6
          • Commitment details
            No
            0/4
          • Policy applies to all operations and financing
            No
            0/0.4
          • Policy applies to all deals
            No
            0/0.4
          • Policy applies to all companies
            No
            0/0.4
          • Policy applies to all stages of the supply chain
            None
            0/0.4
      • Social Considerations
        10/27
        • Company must ensure Free, Prior and Informed Consent
          5.2/5.6
          • Commitment details
            Required
            4/4
            Commitment details
            Required
            4/4
            "Nordea expects clients and portfolio companies to adhere to national laws and regulations, follow and respect internationally recognized norms and standards in their operations and refrain from any involvement in operations in areas protected by international conventions, and respect the objectives and rights with regards to children, indigenous people, workers, modern slavery, environment, biological diversity and wildlife as inter alia expressed in; [...] the principle of Free, Prior and informed Consent (FPIC), as defined by the United Nations Permanent Forum on Indigenous Issues, in their operations with respect to the fair and equal use of forests and acquisition of land and land use"
          • Policy applies to all operations and financing
            No
            0/0.4
            Policy applies to all operations and financing
            No
            0/0.4
            "Nordea expects clients and portfolio companies to adhere to national laws and regulations, follow and respect internationally recognized norms and standards in their operations and refrain from any involvement in operations in areas protected by international conventions, and respect the objectives and rights with regards to children, indigenous people, workers, modern slavery, environment, biological diversity and wildlife as inter alia expressed in; [...] the principle of Free, Prior and informed Consent (FPIC), as defined by the United Nations Permanent Forum on Indigenous Issues, in their operations with respect to the fair and equal use of forests and acquisition of land and land use"
          • Policy applies to all deals
            All financing
            0.4/0.4
            Policy applies to all deals
            All financing
            0.4/0.4
            "Nordea expects clients and portfolio companies to adhere to national laws and regulations, follow and respect internationally recognized norms and standards in their operations and refrain from any involvement in operations in areas protected by international conventions, and respect the objectives and rights with regards to children, indigenous people, workers, modern slavery, environment, biological diversity and wildlife as inter alia expressed in; [...] the principle of Free, Prior and informed Consent (FPIC), as defined by the United Nations Permanent Forum on Indigenous Issues, in their operations with respect to the fair and equal use of forests and acquisition of land and land use"
          • Policy applies to all companies
            All financing
            0.4/0.4
            Policy applies to all companies
            All financing
            0.4/0.4
            "Nordea expects clients and portfolio companies to adhere to national laws and regulations, follow and respect internationally recognized norms and standards in their operations and refrain from any involvement in operations in areas protected by international conventions, and respect the objectives and rights with regards to children, indigenous people, workers, modern slavery, environment, biological diversity and wildlife as inter alia expressed in; [...] the principle of Free, Prior and informed Consent (FPIC), as defined by the United Nations Permanent Forum on Indigenous Issues, in their operations with respect to the fair and equal use of forests and acquisition of land and land use"
          • Policy applies to all stages of the supply chain
            Producers; Processors; Traders; Manufacturers; Retailers
            0.4/0.4
            Policy applies to all stages of the supply chain
            Producers; Processors; Traders; Manufacturers; Retailers
            0.4/0.4
            "Nordea expects clients and portfolio companies to adhere to national laws and regulations, follow and respect internationally recognized norms and standards in their operations and refrain from any involvement in operations in areas protected by international conventions, and respect the objectives and rights with regards to children, indigenous people, workers, modern slavery, environment, biological diversity and wildlife as inter alia expressed in; [...] the principle of Free, Prior and informed Consent (FPIC), as defined by the United Nations Permanent Forum on Indigenous Issues, in their operations with respect to the fair and equal use of forests and acquisition of land and land use"
        • Companies must have a grievance mechanism
          0/5.6
          • Commitment details
            No
            0/4
          • Policy applies to all operations and financing
            No
            0/0.4
          • Policy applies to all deals
            No
            0/0.4
          • Policy applies to all companies
            No
            0/0.4
          • Policy applies to all stages of the supply chain
            None
            0/0.4
        • Company must respect labour rights
          5.6/5.6
          • Commitment details
            Companies entire supply chain - Required
            4/4
            Commitment details
            Companies entire supply chain - Required
            4/4
            Does the financial institution ask the company to protect the health and safety of its own operations or its supply chain workers?: No

            Type of policy: ILO; UNGP; UN Declaration of HR; Discrimination; Forced Labour; Child Labour; Freedom of Association
            "Our Responsible Investment Policy aims for the companies we invest in to support the United Nations Sustainable Development Goals (SDG’s) and comply with international conventions and norms, including, but not limited to: [...] Universal Declaration of Human RightsUN Guiding Principles on Business andHuman Rights [...] ILO conventions on labour standards [...] We expect companies to obey internationally recognized human rights principles and to prevent and manage their impact on human rights. Human rights related issues include complicity in human right abuses, modern slavery and child labour, occupational safety and health, the rights of indigenous people and displacement of local communities, freedom of association and collective bargaining and international humanitarian law. The expectations in these areas apply both to our investee companies themselves and to their supply chains."
          • Policy applies to all operations and financing
            All financing
            0.4/0.4
            Policy applies to all operations and financing
            All financing
            0.4/0.4
            "Our Responsible Investment Policy aims for the companies we invest in to support the United Nations Sustainable Development Goals (SDG’s) and comply with international conventions and norms, including, but not limited to: [...] Universal Declaration of Human RightsUN Guiding Principles on Business andHuman Rights [...] ILO conventions on labour standards [...] We expect companies to obey internationally recognized human rights principles and to prevent and manage their impact on human rights. Human rights related issues include complicity in human right abuses, modern slavery and child labour, occupational safety and health, the rights of indigenous people and displacement of local communities, freedom of association and collective bargaining and international humanitarian law. The expectations in these areas apply both to our investee companies themselves and to their supply chains."
          • Policy applies to all deals
            All financing
            0.4/0.4
            Policy applies to all deals
            All financing
            0.4/0.4
            "Our Responsible Investment Policy aims for the companies we invest in to support the United Nations Sustainable Development Goals (SDG’s) and comply with international conventions and norms, including, but not limited to: [...] Universal Declaration of Human RightsUN Guiding Principles on Business andHuman Rights [...] ILO conventions on labour standards [...] We expect companies to obey internationally recognized human rights principles and to prevent and manage their impact on human rights. Human rights related issues include complicity in human right abuses, modern slavery and child labour, occupational safety and health, the rights of indigenous people and displacement of local communities, freedom of association and collective bargaining and international humanitarian law. The expectations in these areas apply both to our investee companies themselves and to their supply chains."
          • Policy applies to all companies
            All financing
            0.4/0.4
            Policy applies to all companies
            All financing
            0.4/0.4
            "Our Responsible Investment Policy aims for the companies we invest in to support the United Nations Sustainable Development Goals (SDG’s) and comply with international conventions and norms, including, but not limited to: [...] Universal Declaration of Human RightsUN Guiding Principles on Business andHuman Rights [...] ILO conventions on labour standards [...] We expect companies to obey internationally recognized human rights principles and to prevent and manage their impact on human rights. Human rights related issues include complicity in human right abuses, modern slavery and child labour, occupational safety and health, the rights of indigenous people and displacement of local communities, freedom of association and collective bargaining and international humanitarian law. The expectations in these areas apply both to our investee companies themselves and to their supply chains."
          • Policy applies to all stages of the supply chain
            Producers; Processors; Traders; Manufacturers; Retailers
            0.4/0.4
            Policy applies to all stages of the supply chain
            Producers; Processors; Traders; Manufacturers; Retailers
            0.4/0.4
            "Our Responsible Investment Policy aims for the companies we invest in to support the United Nations Sustainable Development Goals (SDG’s) and comply with international conventions and norms, including, but not limited to: [...] Universal Declaration of Human RightsUN Guiding Principles on Business andHuman Rights [...] ILO conventions on labour standards [...] We expect companies to obey internationally recognized human rights principles and to prevent and manage their impact on human rights. Human rights related issues include complicity in human right abuses, modern slavery and child labour, occupational safety and health, the rights of indigenous people and displacement of local communities, freedom of association and collective bargaining and international humanitarian law. The expectations in these areas apply both to our investee companies themselves and to their supply chains."
        • Company must address gender equality issues
          0/5.6
          • Commitment details
            No
            0/4
          • Policy applies to all operations and financing
            No
            0/0.4
          • Policy applies to all deals
            No
            0/0.4
          • Policy applies to all companies
            No
            0/0.4
          • Policy applies to all stages of the supply chain
            None
            0/0.4
        • Companies must encourage the inclusion of small-scale farmers
          0/5.6
          • Commitment details
            No
            0/4
          • Policy applies to all operations and financing
            No
            0/0.4
          • Policy applies to all deals
            No
            0/0.4
          • Policy applies to all companies
            No
            0/0.4
          • Policy applies to all stages of the supply chain
            None
            0/0.4
        • Companies must resolve land conflicts
          0/1.6
          • Commitment details
            No
          • Policy applies to all operations and financing
            No
            0/0.4
          • Policy applies to all deals
            No
            0/0.4
          • Policy applies to all companies
            No
            0/0.4
          • Policy applies to all stages of the supply chain
            None
            0/0.4
      • Reporting and Implementation
        14/31
        • Commitments must be timebound
          No
          0/5
        • Companies must disclose subsidiaries in commodity supply chains
          No
          0/4
        • Companies must disclose locations
          No
          0/4
        • Policy is reviewed and updated
          Annual or more frequent review
          2/2
          Policy is reviewed and updated
          Annual or more frequent review
          2/2
          "The policy has been approved by, respectively, the board of directors of Nordea Funds and the board of the Danish Nordea Invest fund associations. This policy is reviewed at least annually."
        • Monitoring and non-compliance process
          Screening and monitoring process
          5/5
          Monitoring and non-compliance process
          Screening and monitoring process
          5/5
          "Our funds are subject to a recurring norms-based screening which identifies companies allegedly involved in breaches of international law, environmental protection norms, human rights, labour standards, and anti-corruption. If a company is identified based on the norms-based screening to be breaking international norms an assessment of the company will be initiated to consider actions to be taken. Typical actions are engagement, quarantine or exclusion."
        • Engagement with non-compliant companies
          Engage with non-compliant companies with a time-bound threat of divestment
          5/5
          Engagement with non-compliant companies
          Engage with non-compliant companies with a time-bound threat of divestment
          5/5
          "Our funds are subject to a recurring norms-based screening which identifies companies allegedly involved in breaches of international law, environmental protection norms, human rights, labour standards, and anti-corruption. If a company is identified based on the norms-based screening to be breaking international norms an assessment of the company will be initiated to consider actions to be taken. Typical actions are engagement, quarantine or exclusion.[...] NAM excludes companies involved in serious breaches of international norms where engagement is deemed not to be possible or effective"
        • Reporting on implementation of the policy
          Reports number/proportion of portfolio companies covered by the deforestation policy
          2/6
          Reporting on implementation of the policy
          Reports number/proportion of portfolio companies covered by the deforestation policy
          2/6
          Proportion of $/portfolio: unclear

          Type of reporting: Published exclusion lists
          "The NAM-level exclusion list can be found here . Last updated July 2021"
        • Ethical product in portfolio
          No
  • Commitment strength
    14/31
    Avg. score
  • Reporting and Implementation
    14/31
    Avg. score
  • Social considerations
    10/28
    Avg. score

Profile

Nordea Bank AB are a financial services group with headquarters in Sweden serving private, corporate and institutional clients. Their services include: private banking, investment banking, securities, wealth management, asset management, capital markets, pensions and retail banking services. As of 2017, Nordea Bank AB's total assets amount to more than 600 billion EUR, with approximately 330 billion EUR in loans. Nordea Bank AB are among the top shareholders for Forest 500 companies.

HQ
HQ 
Finland
Financial institution type
Financial institution type 
Bank, Insurance Company

How we assess the Forest 500

Investors and lenders need to adopt and implement strong deforestation policies that ensure their investments are not funding the destruction of forests.

All assessments use policies published on financial institution websites, some links may have changed or been removed since the time of assessment.