Corporate responsibility

Long-term financing for sustainable growth

NIB promotes sustainable growth by providing financing to projects that strengthen competitiveness and enhance the environment, in line with the Bank's mission.

NIB recognises that taking ecological and social aspects into account is part of good business and leads to sustainable development. NIB believes that this approach enhances the competitive advantage of the Bank's customers and that economic growth and a healthy environment go hand in hand.

As an international financial institution, NIB places particular emphasis on issues relating to corporate responsibility. On this page NIB briefly presents its view on its role in society at large and on aspects related to corporate responsibility. More information can be found elsewhere on the site, as indicated.

Supporting sustainability through financing
Direct ecological footprint
Good governance
Responsibility towards stakeholders
Compliance

Supporting sustainability through financing

NIB contributes to sustainability through its approach to financing projects. NIB impacts its environment mainly through its financing and thus the impacts are largely indirect. NIB not only finances investments that improve the environment, but also analyses the environmental impacts of each project considered for financing. NIB defines the term "environment" to include both ecological and social aspects. All NIB's lending decisions thus take into account economic, ecological and social aspects.

Direct ecological footprint

NIB's main environmental impacts are indirect and made through its financing operations. As concerns its direct ecological footprint and housekeeping, NIB has internal environmental guidelines for office practices, facilities management and procurement.

NIB complies with the requirements of current EU environmental legislation and in many respects goes beyond what legislation requires.

In 2009, NIB's Headquarters in Helsinki joined the WWF Green Office network.

Good governance

NIB promotes transparency, predictability, accountability, responsibility and disclosure as general principles enhancing and furthering good governance. NIB aims at best practices in the field of corporate governance.

NIB is governed by its constituent documents. In addition, NIB's activities are governed by a number of policies, guidelines and instructions. These include, for example, financial policies and general guidelines for procurement. NIB aims at fighting corruption in both its external and internal activities and has adopted guidelines for combating corruption, including money laundering and international terrorism. NIB also has a committee on fighting corruption, which deals with both corruption prevention and cases of suspected corruption.

The work of NIB's decision-making bodies and supervisory body is governed by rules of procedure. Codes of conduct have been adopted to further enhance best governance practices.

NIB is committed to the development and well-being of its employees and underscores the importance of dedicated employees for the organisation's performance. NIB's intention is to act as a good corporate citizen and to offer interesting, motivating and safe jobs to its employees. The purpose of NIB's staff policy is to create an attractive and professionally stimulating work environment. The policy builds on transparency, predictability and the reasonable, consistent, equal and equitable treatment of all employees.

Responsibility towards stakeholders

NIB strives to add value through its long-term financing and status as an international financial institution and to complement other financing resources.

In its interaction with different stakeholders, NIB emphasises openness and transparency:

NIB
The common international financial institution of its eight member countries. 

Customers
Private and public companies and the public sector both in and outside NIB's member countries.

Investors
Corporate investors, banks, pension and insurance funds, asset managers, central banks and government entities all over the world.

Environment & society
Non-governmental organisations, media, general public, natural environment.

Financing partners
Other international financial institutions as well as public and private sector lenders.

Staff
Some 190 employees, headquarters in Helsinki, Finland.

Owners
Eight member countries: Denmark, Estonia, Finland, Iceland, Latvia, Lithuania, Norway and Sweden.
 

Links
Code of conduct for the Control Committee (137 kB)
Code of conduct for the Board of Directors and the President (377 kB)
Code of conduct for the staff (591 kB)  
Rules of procedure of the Board of Governors (38 kB)
Rules of procedure for the Control Committee (81 kB) 
Rules of procedure of the Board of Directors (41 kB) 
Communication policy (90 kB)
Disclosure policy (151 kB) 
Financial policies (717 kB)
General guidelines for procurement (157 kB)
Resolution on fighting corruption (56 kB)
Rules of procedure for the committee on fighting corruption (49 kB)
Staff policy (65 kB)
Staff regulations (610 kB)
Sustainability policy and guidelines (443 kB)
NIB and the environment
European principles for the environment
Loans
Housekeeping
Human resources
Legal framework & policy documents
Compliance
Annual Report, Corporate responsibility

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