1. Commercial and residential buildings represent an important opportunity for mitigating climate change through increased energy efficiency, as they account for 40% of primary energy consumption and 30% of CO2 emissions in the EU. 2. Nordea Bank recognizes opportunities to create positive environmental impacts through green products that encourage energy efficiency and cleaner energy consumption among homeowners. 3. As about half of Nordea's lending is for households, and it has a 30% market share of the Finnish mortgage market, the bank is well positioned to influence energy use given most household loans are for properties in urban areas.

1. 1
Green Forum, EeMAP
Juho Maalahti
Group Sustainable Finance, Nordea Bank AB

2. 2
Role of the banks in climate change mitigation
EU
High-Level Expert Group recommendations
Green Taxonomy, Green Factor, EeMAP
Finland
Climate goals, Paris agreement
Carbon neutral 2045, carbon free energy 2025
Nordea and other banks
Supporting transition to low-carbon
economy
Built environment
- 40% of primary energy
consumption
- 30% of CO2 emissions
Household energy
consumption*
- EU avg. 5tCO2 annually per hh
- FI estimate >3tCO2 annually per
hh
Energy production (direct
emissions, gCO2/KWh)*
- EU avg. 353
- FI 149
- DK 256, SE 14, NO 10
~50%
Share of lending to households
out of total lending book (total
300bn EUR)
~30%
Market share of Finnish
mortgage market (housing
loans, Q3/2017)
Position Statement (Oct 2017)
- Not provide new financing to energy
production companies that are
primarily dependent on thermal coal
NORDEA
Commercial and residential buildings represent
an important role in mitigating climate change through
energy efficiency improvements
Opportunities to create positive impacts through
green products while encouraging consumers to focus
on energy efficiency and cleaner energy consumption
Our impact opportunities are significant and
primarily in urban areas (large part of household loans
focused on capital regions)
Nordic countries
National implementation / commitments to
climate change mitigation goals
*Source: EUStat & European Residual Mixes 2016, Association of Issuing Bodies. Only estimated figures, based on primary energy production.