• 2023: Nordic CEOs are launching updated joint commitments   

  • Nordic CEOs are launching updated joint commitments  

    Nordic CEOs are intensifying our joint Nordic collaboration for sustainability. Now, we are launching 18 updated mutual sustainability commitments on climate, nature, diversity and inclusion, and suppliers. Our aim is to showcase that Nordic companies are taking the lead. 

  • We are ready to raise the bar

     

    In July 2020, Nordic CEOs presented a set of joint commitments for the Nordic Prime Ministers. Since then, our member companies have come further in our work on sustainability and made progress in achieving the commitments. That demands we agree on more specific commitments to keep pushing forward towards 2030. In 2023, we are ready to raise the bar. We are extending our scope to stay ahead of the curve to keep making progress in our companies.

     

    Arni Oddur Thordarson, CEO of the Icelandic company Marel, is the chair of Nordic CEOs for a Sustainable Future in 2023.

     

    Thordarson says:

    CEO, Marel

    - The pandemic and the energy crisis have been challenging for Nordic businesses. However, we must keep making new steps in our work on sustainability. The Nordic countries are uniquely positioned to take the lead and drive the necessary transformation we must undergo over the next seven years. Delivering on the commitments will require a massive effort from all the companies, including us CEOs. Close cooperation, knowledge sharing and exchange of experience across Nordic countries and industries will be central to success

  • Set a peer-pressure and inspire other companies

    The updated commitments result from discussions and work among the companies, CEOs and sustainability officers during 2022. Nordic CEOs believe that this is the time for Nordic businesses and governments to come together and assert their position as a true powerhouse of sustainability in Europe.

  •  

    Our updated commitments demonstrate our joint ambition of walking the talk on how businesses deliver on the SDGs. The purpose of the new commitments is to ensure that companies in the initiative feel a peer pressure and set internal goals that are a stretch. Moreover, we aim to inspire other companies to do the same.

  •  

    We know that delivering on the new commitments will demand more from all our member companies and require substantial efforts from our CEOs. Through close collaboration, knowledge-sharing, and exchange of experience, we will ensure we put a peer pressure on each other to deliver actual results.  

  • Our work

    During 2023, Nordic CEOs will launch two additional guides, one on procurement and one on nature. The network will also initiate several measures and initiatives in which the CEOs will play an active role.

     

    It all started in 2018, when we sent our initial commitment to the Nordic Prime Ministers. Read our shared ambition here.

  • Our 2023 commitments

    Strategy and target-setting / Reporting / Suppliers

  • New Commitments: Strategy & Target setting 

    Integrate ESG targets

    • Integrate most material ESG targets into performance framework for the executive management.

    Climate

    • Set 1.5-degree science-based targets across all scopes if possible. For sectors where it is not possible, contribute actively to establish a sectoral decarbonation approach.
    • Integrate the recommendations from the Task Force on Climate-related Financial Disclosures (TCFD) in strategic planning and reporting.

    Alignment of advocacy

    • Align climate advocacy with the goals ofthe Paris agreement. Work in partnerships to fast-track the transition.

    Nature

    • Do a mapping of impact on, and dependencies of, nature.
    • Include nature as a topic in business strategy if material.

    Diversity & Inclusion

    • Aim for maximum 60% of any gender in top 3 management levels by 2030. (This wording has a non-binary approach to gender.)
    • Aim to offer a minimum of four months fully paid parental leave for primary caregivers, and aim to give secondary caregivers support if they wish to take up to one-month parental leave.
    • Establish employee-led groups forminorities (e.g., LGBTQ, physical disabilities, ethnicity​), dedicated to foster a diverse and inclusive work environment.

  • New Commitments: Reporting

    Climate

    • Disclose information on Climate Data through CDP or similar methods and integrate recommendations from the TCFD.
    • Have transparency on emissions scope 1-3.

    Nature

    • Start initial reporting of nature data for the reporting year 2023, e.g., including it in the TCFD reporting as preparations for the Taskforce on Nature-Related Disclosure (TNFD).

    Diversity & Inclusion

    • Measure and report gender balance on top 3 management levels by using verifiable methods such as Bloomberg, SHE index, Gemmaq or the equivalent.
    • Disclose and address gender pay gap – unadjusted and adjusted.

    External validation

    • Undergo external validation on material ESG topics, aiming for the level of reasonable assurance when applicable.
    • Work towards integrated reporting.

  • New Commitments: Suppliers

    Policy and supplier Code of Conduct

    • Establish a sustainable procurement policy and supplier Code of Conduct.

    Weighting of sustainability

    • Give sustainability a weight in procurement processes.

  • Our reports

    Nordic CEOs have published several guidelines to help other companies with practical advice for their sustainability efforts.

    From balancing gender to driving inclusion

    In the Nordic region, we have strong traditions of embracing a culture of diversity and inclusion. Read about the Nordic CEOs shared ambitions in the Diversity & Inclusion Guide.

    Climate risk management
    - A guide to getting started

    Read more about our support for better climate disclosures through the Task Force on Climate-Related Financial Disclosures here or download the guide.

    Nordic CEOs for a Sustainable Future: About the initiative

    The companies represented in the network integrating the UN SDGs into their corporate strategies. Download this one-pager or report to read more about the initiative.

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