NIB’s approach to corporate responsibility
As an international financial institution, NIB places particular emphasis on issues relating to corporate responsibility. Transparency, predictability, accountability, responsibility and disclosure are key principles for enhancing and furthering good governance and sustainable development. On this page, NIB briefly presents its view on its role in society at large and on aspects related to good governance. More information can be found elsewhere on the site, as indicated.
Further on this page:
Supporting sustainability through financing
NIB finances projects that improve productivity and benefit the environment. The Bank analyses the environmental impact of each project considered for financing.
In addition, NIB invests in green bonds issued by companies or municipalities in the Bank’s member countries. These investments are used to finance projects that are environmentally sustainable and contribute to mitigating climate change.
Furthermore, NIB itself is a major issuer of green bonds: NIB Environmental Bonds (NEBs). The proceeds of NEBs are used to finance projects with a positive impact on the environment.
Direct environmental footprint
With regard to its own direct ecological footprint, NIB has environmental guidelines for office practices, facilities management and procurement. The Bank has its own internal regulations in place that identify best practices for the procurement of goods and services. Further, NIB complies with the requirements of current EU environmental legislation. The Bank’s headquarters in Helsinki has been part of the WWF Green Office network since 2009.
NIB aims at best practices in the field of corporate governance.
The Bank 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, risk management 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:
The common international financial institution of its eight member countries.
Private and public companies, institutions, municipalities, sovereign countries, banks and other IFIs.
Central and commercial banks, pension and insurance funds, asset managers and government entities.
Political decision-makers and public administrations
State representatives in Denmark, Estonia, Finland, Iceland, Latvia, Lithuania, Norway, and Sweden, as well as other selected countries where NIB operates.
Non-governmental organisations raising awareness of ways to protect the environment.
Mainly the local and financial media.
Everyone interested in NIB’s operations.
The Bank has approximately 200 employees.
Lodge a complaint
If you are not satisfied with an action taken by NIB or a response to your inquiry, you can lodge a written complaint with the Bank’s Chief Compliance Officer by sending a letter, e-mail to firstname.lastname@example.org, or fax to +358 10 618 0711 within 30 working days of the receipt of the decision which is the subject of the complaint.
Member countries, structure & capital
NIB's onwership, authorised capital and governance structure.
Constituent documents and policies NIB is governed by.
Compliance & anti-corruption
On the Bank's compliance functions, the risks it addresses, and the ground principles of its work.