Coal-free Finland
Greenpeace Nordic, Swedish Society for Nature Conservation (Naturskyddsföreningen) and Action Aid Denmark (Mellemfolkeligt Samvirke) have filed a shareholder resolution at Nordea’s Annual General Meeting. The resolution is also supported by Fair Finance Guide and Hiilivapaa Suomi.
Lue lisää “NGO-led shareholder resolution demands Nordea to stop financing fossil fuel expansion”
Since the adoption of the Paris climate agreement, Nordea has poured 12.4 billion euros into fossil fuel companies – such as the fossil company Fortum, one of Europe’s biggest emitters.
Nordea has committed to net-zero in 2050. However, distant promises are not enough and we are demanding meaningful action now. Nordea’s new climate policy is not aligned with the Paris Agreement.
We demand that Nordea:
Join Stop funding fossil fuels, Nordea! demonstration at the company’s headquarters (Satamaradankatu 5, 00580 Helsinki) on the 29th October at 8.30-9.30 am. The demonstration is part of the international #DefundClimateChaos action day.
Before the demonstration, there will be an online briefing on Nordea’s role in the climate crisis on 26 October at 5-6 pm. You can participate even if you can’t make it to the demonstration but are interested in learning more.
The conveners of the demonstration are Hiilivapaa Suomi, Fridays For Future Finland, 350 Suomi, Friends of the Earth Finland and XR Finland.
After a number of reports, including Banking on Thin Ice and ShareAction’s Countdown to COP showed significant problems with Nordea’s guidelines for financing the fossil fuel sector, Nordea has developed a new policy. Nordea proudly announced that it is “increasing pressure on [the] fossil fuel sector” and the new policy indeed places stronger limitations on financing for the sector by the Nordic region’s largest bank. The policy still has serious gaps, however, which means that it will have limited effect on Nordea’s financing for some key heavy polluters like the Finnish coal company Fortum and companies exploring for more oil and gas in the Arctic. Despite IEA’s new Net Zero by 2050 report that there can be no more investments in new fossil fuels, the policy allows Nordea to continue to finance companies developing new oil and gas projects.
Lue lisää “Nordea’s new climate policy allows oil and gas expansion”