Stakeholder identification and consultation

Please describe which stakeholders (or groups/ types of stakeholders) you have identified, consulted, engaged, collaborated or partnered with for the purpose of implementing the Principles and improving your bank’s impacts. This should include a high-level overview of how your bank has identified relevant stakeholders, what issues were addressed/results achieved and how they fed into the action planning process.

Identification and involvement of stakeholders

Stakeholder involvement is a vital aspect of Nykredit’s efforts to implement the Principles for Responsible Banking and to enhance its positive impact on customers, owners, and society. An ongoing, transparent dialogue with stakeholders deepens Nykredit’s understanding of their needs and expectations. At the same time, this dialogue helps refine Nykredit’s strategy, business model, and priorities, whether it involves supporting the green transition, fostering an attractive workplace, or ensuring equitable access to financing and home loans throughout Denmark.

Coordination across the organisation

Continuous coordination occurs across Nykredit’s organisation and management to share insights into the views and interests of relevant stakeholders. This coordination enables Nykredit to adapt to new political proposals and initiatives, regulatory guidelines and recommendations from authorities, and requests from key partners. Nykredit engages with customers through advisory meetings, ESG tools, and customer satisfaction surveys; with employees via staff satisfaction and working environment surveys, and formal collaboration forums; and with the owner, Forenet Kredit, through close strategic and operational cooperation. Additionally, there is ongoing dialogue with authorities, politicians, trade organisations and NGOs about regulation, joint solutions, and sustainability initiatives. Insights gained from stakeholder engagement are systematically incorporated into the bank’s decision-making and action processes and used to prioritise initiatives and assess risks and opportunities.

For a comprehensive overview of Nykredit’s approach, organisation, and key stakeholders, please refer to page 97 of Nykredit’s Sustainability Statement.

How does Nykredit promote a culture of responsible banking among its employees?

In its 2026 PRB Responsible Banking Progress Statement Nykredit reports that it took the following actions to promote a culture of responsible banking among its employees:

Nykredit fosters a culture of responsible banking by establishing clear behavioural expectations, providing ongoing training, and maintaining open dialogue on responsible business practices. The bank’s commitment to responsibility is reinforced through policies, training programs, business procedures, and a focus on preventing financial crime.

Corporate Culture Policy

To support a safe and transparent culture, Nykredit has implemented a Corporate Culture Policy. This policy outlines two main principles essential to cultivating a healthy corporate environment: responsible business practices and a safe, open culture. These principles are underpinned by four core behavioural skills that guide the kind of organization Nykredit aspires to be as a customer-owned employer: customer centricity, team spirit, drive, and responsibility. The policy is complemented by Nykredit’s Code of Conduct and is further supported by other policies adopted by the Nykredit Group’s Board of Directors. All Nykredit employees are bound by this policy.

The Board of Directors is responsible for overseeing the policy and conducts an annual review to assess its relevance and appropriateness, considering Nykredit’s activities, organization, resources, and the market conditions in which Nykredit operates.

Initiatives to Combat Financial Crime

Nykredit continuously enhances its monitoring, control measures, and processes to ensure robust protection against the misuse of its products and services for money laundering, terrorist financing, or violations of financial sanctions. This effort is guided by a dedicated policy and is deeply integrated across the Group. Key to this structure is the appointment of an AML Responsible Officer at the Executive Board level, who oversees the integration and focus on preventing money laundering, terrorist financing, and sanctions breaches within the Group Executive Board and the Executive Boards of the Group companies. Additionally, the Nykredit Group has an AML Responsible Officer covering all relevant Group entities.

All Nykredit employees are legally required to complete annual and role-specific training programs related to anti-money laundering and other financial crimes. These mandatory, case-based training sessions are tailored to employees’ job profiles and include participants from the Executive Board and the Board of Directors. In 2025, five case studies were provided, covering areas such as trade-based money laundering prevention, cryptocurrency-related money laundering, and corruption. The overall completion rate for all employees was 98% in 2025.

Whistleblower Scheme

Nykredit has established a Whistleblowing Policy and an online whistleblower scheme that allows all employees to anonymously report suspected irregularities, violations, or potential breaches of financial regulations, laws, or Nykredit’s policies and guidelines. This includes sensitive issues such as sexism.

The whistleblower scheme complements existing channels where employees are encouraged to raise concerns directly with their managers or Nykredit’s management. All reports submitted through the platform are initially reviewed by an external attorney, who screens the information and shares it with the Head of Compliance, the Head of Internal Audit, and the Chair of Nykredit’s Board Risk Committee. Reports made in good faith are fully protected from any form of retaliation.

 

UN Principles for Responsible Banking: Accelerating a positive global transition for people and the planet

With over 300 signatory banks representing almost half of the global banking industry, the Principles for Responsible Banking are the world’s foremost sustainable banking framework. Through these Principles, the banking community takes action to align core strategies, decision-making, lending and investment with the UN Sustainable Development Goals and international agreements such as the Paris Climate Agreement.

FBRH Principles for Responsible Banking (PRB) Assurance:

First class PRB assurance services: The result of solid, hands-on ESG/ Sustainability experience

• • • FBRH is a GRI Certified Training Partner (Global), ISEP Training Centre and a member of CPD.
    • FBRH builds trust. Over 200 reviews from top professionals from around the world demonstrate our ability to build strong, trusting business relationships.
    • FBRH possesses a unique skill set that combines ESG/sustainability certified training, experience in advisory services and report preparation, and ESG/sustainability report assurance.

The combination of all the above empowers FBRH to provide first class Principles for Responsible Banking (PRB) assurance services.

 

References:

This case study is based on published information by Nykredit, located at the link below. For the sake of readability, we did not use brackets or ellipses. However, we made sure that the extra or missing words did not change the report’s meaning. If you would like to quote these written sources from the original please revert to the following link:

https://www.nykredit.com/globalassets/nykredit.com/samfundsansvar/prb_supplement_template_2026.pdf

Note to Nykredit: With each case study we send out an email requesting a comment on this case study. If you have not received such an email please contact us.

Stakeholder identification and consultation

Please describe which stakeholders (or groups/ types of stakeholders) you have identified, consulted, engaged, collaborated or partnered with for the purpose of implementing the Principles and improving your bank’s impacts. This should include a high-level overview of how your bank has identified relevant stakeholders, what issues were addressed/results achieved and how they fed into the action planning process.

Stakeholder Identification and Engagement
Nykredit is among Denmark’s largest lenders, and that position comes with responsibilities. As a prominent player in society, Nykredit maintains ongoing dialogue with relevant stakeholders, including business and trade organizations, NGOs, public authorities, politicians, and key market participants. These conversations focus on key topics such as climate and sustainability, regional development and growth across Denmark, lending to specific population groups, equal pay, diversity, and inclusion. Through engagement with these groups, Nykredit ensures its efforts align with societal expectations and support a sustainable future. 

Coordination across Nykredit
Continuous coordination occurs throughout Nykredit’s organization and management to communicate the views and interests of relevant stakeholders. Nykredit has established clear internal procedures for managing new or upcoming regulations, aiming to ensure a well-defined division of responsibilities across the organization. This process facilitates timely and appropriate involvement of different management levels. Coordination is maintained through formal forums within the organization and ongoing collaboration among relevant units.

This coordinated approach enables Nykredit to adapt effectively to new political proposals, initiatives, guidelines, and recommendations from authorities, as well as requests from key partners.

For a comprehensive overview of Nykredit’s approach, organisational structure, and key stakeholders, please refer to its Sustainability Statement 2024.

How did Nykredit identify and work on strategic business opportunities to increase positive and reduce negative impacts?

In its 2024 PRB Responsible Banking Progress Statement Nykredit reports that it identified and worked on strategic business opportunities to increase positive and reduce negative impacts as follows:

Climate Transition Plan
Key initiatives within Nykredit’s Climate Transition Plan toward 2030 are outlined in its Sustainability Statement 2024. Collectively, these actions enable Nykredit to fulfill its role in achieving both its own and society’s ambitious climate goals. The success of most of Nykredit’s climate targets relies heavily on its customers, who are funded and invested in by Nykredit, reducing their own carbon emissions.

The actions in the Climate Transition Plan are organized into four main categories:

• Value Propositions: Nykredit offers loans and investments that support the green transition, providing green benefits that motivate customers to adopt environmentally friendly choices. Several of these value propositions are reinforced with cash vouchers from Forenet Kredit.
• Policies and Terms: Nykredit develops policies, pricing, and product terms that reflect its ambitions and climate-related risks.
• Involvement: Nykredit engages proactively with borrowers to discuss their green transition strategies and financing needs. Nykredit also takes an active ownership role in the companies it invests in.
• Stakeholders and Partnerships: Nykredit collaborates with industry organizations, NGOs, authorities, and other stakeholders to develop solutions and initiatives that promote climate change mitigation.

Taxonomy Regulation
Since 2021, Nykredit has reported on the share of financing activities—through loans and investments—that qualify as eligible under the Taxonomy Regulation (“taxonomy eligibility”). From 2023 onward, Nykredit has also reported on the proportion of activities financed by the Group that are aligned with the taxonomy (“taxonomy aligned”). This alignment reporting specifically pertains to Nykredit’s two climate targets.

The primary KPI in financial institutions’ taxonomy reporting is the Green Asset Ratio (GAR), which measures the percentage of Nykredit’s total assets that meet the taxonomy’s criteria for sustainable economic activities. Nykredit’s most recent and relevant information is detailed in its Sustainability Statement 2024.

 

UN Principles for Responsible Banking: Accelerating a positive global transition for people and the planet

With over 300 signatory banks representing almost half of the global banking industry, the Principles for Responsible Banking are the world’s foremost sustainable banking framework. Through these Principles, the banking community takes action to align core strategies, decision-making, lending and investment with the UN Sustainable Development Goals and international agreements such as the Paris Climate Agreement.

FBRH Principles for Responsible Banking (PRB) Assurance:

First class PRB assurance services: The result of solid, hands-on ESG/ Sustainability experience

• • • FBRH is a GRI Certified Training Partner (Global), ISEP Training Centre and a member of CPD.
    • FBRH builds trust. Over 200 reviews from top professionals from around the world demonstrate our ability to build strong, trusting business relationships.
    • FBRH possesses a unique skill set that combines ESG/sustainability certified training, experience in advisory services and report preparation, and ESG/sustainability report assurance.

The combination of all the above empowers FBRH to provide first class Principles for Responsible Banking (PRB) assurance services.

 

References:

This case study is based on published information by Nykredit, located at the link below. For the sake of readability, we did not use brackets or ellipses. However, we made sure that the extra or missing words did not change the report’s meaning. If you would like to quote these written sources from the original please revert to the following link:

https://www.nykredit.com/samfundsansvar/rapportering/

Note to Nykredit: With each case study we send out an email requesting a comment on this case study. If you have not received such an email please contact us.

Stakeholder identification and consultation

Please describe which stakeholders (or groups/ types of stakeholders) you have identified, consulted, engaged, collaborated or partnered with for the purpose of implementing the Principles and improving your bank’s impacts. This should include a high-level overview of how your bank has identified relevant stakeholders, what issues were addressed/results achieved and how they fed into the action planning process.

Stakeholder Identification and Engagement
As one of Denmark’s largest lenders, Nykredit bears certain responsibilities. Recognising its prominent role in society, Nykredit maintains ongoing dialogue with key stakeholders, including business and trade organizations, NGOs, public authorities, politicians, and major market participants. These conversations focus on critical topics such as climate and sustainability, regional development and growth across Denmark, lending to specific population groups, gender equality, diversity, and inclusion. Through active engagement with these groups, Nykredit ensures its initiatives align with societal expectations and support a sustainable future.

Internal Coordination at Nykredit
Nykredit continuously coordinates across its organization and management to stay informed about stakeholder perspectives and interests, and has established clear internal procedures for managing new or upcoming regulations, ensuring a well-defined distribution of responsibilities and timely involvement of various management levels. This is achieved through formal coordination forums within the organization and ongoing collaboration among relevant departments.

Such coordination enables Nykredit to adapt effectively to new political proposals, regulatory guidelines, authority recommendations, and requests from key partners.

For a comprehensive overview of Nykredit’s approach, organisational structure, and main stakeholders, please refer to its Sustainability Statement 2024.

How did Nykredit work with its clients and customers to encourage sustainable practices and enable sustainable economic activities?

In its 2024 PRB Responsible Banking Progress Statement Nykredit reports that it works with its clients and customers to encourage sustainable practices and enable sustainable economic activities as follows:

Approach and Key Actions
Nykredit, prioritizes ensuring that its advice, products, and services are responsible—benefiting both society at large and individual customers. To support this commitment, Nykredit has implemented various initiatives aimed at enhancing dialogue with its customers and motivating them to participate in the sustainable transition. Some specific examples include:

• Learning Programmes
  Given the constantly evolving landscape of sustainability, driven by new technologies and legislation, Nykredit emphasizes ongoing employee training in climate and sustainability skills. In 2022, Nykredit introduced basic sustainability e-learning modules for all employees and managers. In 2023, this programme was expanded to include Nykredit’s upgraded training 2.0, with a particular focus on greener owner-occupied homes and real estate. All new employees completed this basic training in 2024. Additionally, tailored training programmes have been developed for employees in specific roles, such as sustainable customer dialogues for all customer-facing staff in business banking and most customer-facing employees in personal banking during 2023 and 2024.

• Initiatives targeted at Personal Customers
  Through targeted conversations and attractive value propositions, Nykredit encourages homeowners to undertake energy efficiency improvements and switch heat sources. Supported by contributions from the Group’s majority shareholder, Forenet Kredit, both Nykredit Bank and Totalkredit have launched products and solutions to facilitate this transition. The bank has also introduced a special car loan designed to promote electric vehicle purchases over traditional cars.

• Climate Transition Plan for Business Customers
  In the corporate sector, Nykredit has intensified efforts to assist clients in understanding and enhancing their ESG profiles. Nykredit expects its largest business customers to measure their carbon footprint, set reduction targets, implement energy-saving initiatives, and pursue building energy labelling. These expectations are integrated into Nykredit’s dialogue with clients and form part of its credit assessment process. As of November 2024, credit evaluations include additional measurement points, emphasizing the customer’s carbon emissions, planned reduction actions, and climate targets, including validation through initiatives such as the Science Based Targets initiative or other recognized frameworks.

 

UN Principles for Responsible Banking: Accelerating a positive global transition for people and the planet

With over 300 signatory banks representing almost half of the global banking industry, the Principles for Responsible Banking are the world’s foremost sustainable banking framework. Through these Principles, the banking community takes action to align core strategies, decision-making, lending and investment with the UN Sustainable Development Goals and international agreements such as the Paris Climate Agreement.

FBRH Principles for Responsible Banking (PRB) Assurance:

First class PRB assurance services: The result of solid, hands-on ESG/ Sustainability experience

• • • FBRH is a GRI Certified Training Partner (Global), ISEP Training Centre and a member of CPD.
    • FBRH builds trust. Over 200 reviews from top professionals from around the world demonstrate our ability to build strong, trusting business relationships.
    • FBRH possesses a unique skill set that combines ESG/sustainability certified training, experience in advisory services and report preparation, and ESG/sustainability report assurance.

The combination of all the above empowers FBRH to provide first class Principles for Responsible Banking (PRB) assurance services.

 

References:

This case study is based on published information by Nykredit, located at the link below. For the sake of readability, we did not use brackets or ellipses. However, we made sure that the extra or missing words did not change the report’s meaning. If you would like to quote these written sources from the original please revert to the following link:

https://www.nykredit.com/en-gb/samfundsansvar/reporting/

Note to Nykredit: With each case study we send out an email requesting a comment on this case study. If you have not received such an email please contact us.