| Red Line | Text of policies | Comments | Score |
|---|---|---|---|
| Regulatory requirements | |||
| Ensure Legality | Responsible investment policy All Nordea funds are subject to an annual norm-based screening. The screening is used to identify listed companies allegedly involved in breaches of international law, and norms on environmental protection, human rights, labour standards and anti-corruption. Sustainability Policy Nordea recognizes the importance of participating in and supporting international commitments that enable businesses to operate in a more sustainable way. These include: • UN Environmental Program Finance Initiative • UN Global Compact • UN Universal Declaration of Human Rights • UN Guiding Principles on Business and Human Rights • ILO-conventions • OECD Guidelines for Multinational Enterprises • Equator Principles • Paris Pledge for Action in support of COP 21 • UN Convention against Corruption • Rio Declaration on Environment and Development • UN Principles for Responsible Investments | Nordea actively screens its clients on compliance with international laws | partly |
| No Corruption and Tax Evasion | AML policy Nordea is committed to complying with all applicable AML/CTF laws and regulations in the jurisdictions in which it operates. Code of Conduct 3.2 We comply with laws, regulation, industry standards and internal rules (...) • We are alert to illegal activities by knowing our customers. Responisble investment policy Transparency requirements, both voluntary and mandatory, are being developed requiring companies to disclose information on corporate and ownership structures, on their anticorruption programs, and do country-by-country reporting on taxes and government payments. As investors we demand that business take a proactive approach towards corruption, implement adequate anticorruption measures and improve transparency. | The responsible investment policy requires clients to act against corruption and to be transparent on taxes | partly |
| Ensure ESIA for mills and plantations | Sustainability Policy Nordea recognizes the importance of participating in and supporting international commitments that enable businesses to operate in a more sustainable way. These include: • Equator Principles | ESIAs are expected to be required when the Eps apply. No requirements for other cases were found | partly |
| Social requirements | |||
| Ensure FPIC | Sustainability Policy Nordea recognizes the importance of participating in and supporting international commitments that enable businesses to operate in a more sustainable way. These include: (...) ILO-conventions | Nordea recognizes the importance of the ILO conventions, thus inlcuding the ILO 169 requirements for FPIC, but this only applies to indigenous peoples. | partly |
| Respect Human Rights | Code of Conduct: 3.11 We support and respect human rights • We respect fundamental and internationally recognised human rights in all areas of operation and have a responsibility to ensure our business activities do not negatively impact human rights; Responsible Investment Policy We expect companies to obey internationally recognized human rights principles and to prevent and manage its impact on human rights. Human rights related issues includes 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. Sustainability Policy: Nordea recognizes the importance of participating in and supporting international commitments that enable businesses to operate in a more sustainable way. These include: • UN Environmental Program Finance Initiative; • UN Global Compact; • UN Universal Declaration of Human Rights; • UN Guiding Principles on Business and Human Rights; • ILO-conventions; • OECD Guidelines for Multinational Enterprises; • Equator Principles; • Paris Pledge for Action in support of COP 21; • UN Convention against Corruption; • Rio Declaration on Environment and Development; • UN Principles for Responsible Investments | Nordea expects companies to obey internationally recognized human rights principles | well |
| Respect Indigenous rights and customary land use rights | Responsible Investment Policy We expect companies to obey internationally recognized human rights principles and to prevent and manage its impact on human rights. Human rights related issues includes 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. | Nordea recognizes the rights of Indigenous people, but does not mention customary land rights of local communities. | partly |
| No forced resettlement | We expect companies to obey internationally recognized human rights principles and to prevent and manage its impact on human rights. Human rights related issues includes 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. | Nordea does not specify which International human rights principles clients must comply with, but this can be assumed to include IFC criteria, which protect partly | partly |
| Environmental Requirements | |||
| No forest degradation and deforestation | No publicly available policies or documentation were found that cover this criteria. | not | |
| Protect endangered species | No publicly available policies or documentation were found that cover this criteria. | not | |
| No high-risk species | No publicly available policies or documentation were found that cover this criteria. | not | |
| No fire | No publicly available policies or documentation were found that cover this criteria. | not | |
| Protect peat | No publicly available policies or documentation were found that cover this criteria. | not | |
| No persistent pollution | No publicly available policies or documentation were found that cover this criteria. | not | |
| Corporate association / scope of the policy | |||
| Corporate association / scope of the policy | No publicly available policies or documentation were found that cover this criteria. | not |
