HLSE:NDA FIBanks
Nordea Faces Shareholder Clash Over Arctic Fossil Fuel Lending Rules
Shareholders have submitted a proposal to Nordea Bank Abp’s AGM to amend the Articles of Association to ban financing of new upstream fossil fuel projects north of the Arctic Circle.
The proposal responds to growing ESG pressure on banks’ lending to carbon intensive sectors, with environmental groups calling for tougher climate rules.
Nordea’s Board has urged shareholders to reject the amendment, arguing the bank’s existing strategy already addresses societal and environmental...