Cooperation

• In 2021, NIB has joined the Coalition of Finance Ministers for Climate Action as an institutional partner. The Coalition has 60 member countries and is working with various institutional partners supporting the efforts of Finance Ministers in designing and implementing policies to address climate change. It is currently chaired by the Finance Ministers of Indonesia and Finland with a secretariat managed by the World Bank and the IMF.
• In June 2020, NIB was re-elected as member of the Executive Committee of the Green Bond Principles (GBP) and Social Bond Principles (SBP). The "Principles" are a voluntary set of guidelines that promote the integrity, transparency and development of the green bond market. NIB was first elected member of the GBP’s Executive Committee in June 2016. During 2018–2020, NIB acted as chairman of the Committee. NIB is one of the coordinators of the Q&A Guidance Handbook and contributes to various work streams, such as the core Impact Reporting working group.
• In 2020, NIB joined Phase II of the UNEP-FI TCFD banking pilot project with 38 other global financial institutions. The programme focused on the identification, assessment and management of climate risks and opportunities.
• In 2019, NIB took part in the consultations of the EU Technical Expert Group on Sustainable Finance (TEG), which was set up by the European Commission to assist it in developing a unified taxonomy for sustainable economic activities, an EU green bond standard, and methodologies for low-carbon indices and metrics for climate-related disclosure.
• NIB joined the Network for Greening the Financial System (NGFS) as an observer in 2019. The NGFS is composed of central banks and financial supervisors. Its purpose is to help strengthen the global response required to meet the goals of the Paris Agreement.
• NIB signed the Principles of Responsible Investment (PRI), the Principles for Responsible Banking (PRB) and the Task Force on Climate-related Financial Disclosures (TCFD) in December 2019.
• Since 2013, NIB applies the International Financial Institution Framework for a Harmonised Approach to Greenhouse Gas Accounting. CO2 estimates are an important parameter in assessing a project’s eligibility for financing under the Bank’s environmental mandate.
• In 2015, IFI working groups developed sector specific accounting principles for renewable energy, energy efficiency and the transportation sector on the basis of the harmonised approach to project-level greenhouse gas accounting.
• NIB works together with the Baltic Marine Environment Protection Commission, also known as HELCOM, to develop common environmental objectives and actions for the Baltic Sea.
• The Bank also participates in the Multilateral Financial Institutions’ Working Group on Environmental and Social Standards (MFI-WGESS), a platform for MFIs to work together on issues related to responsible financing and sustainable development.
• Since 2006, NIB is signatory to the European Principles for the Environment (EPE) concerning environmental management in the financing of projects.

The Bank's policies and activities are evaluated by independent ESG data and research providers. The unsolicited ratings allow NIB to track its performance and identify areas to improve. Below are NIB’s most recent scores as rated by four different ESG rating agencies.