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PRI reporting framework 2017

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You are in Direct - Listed Equity Incorporation » ESG incorporation in actively managed listed equities » Implementation processes » (A) Implementation: Screening

(A) Implementation: Screening

LEI 06. Types of screening applied

06.1. Indicate and describe the type of screening you apply to your internally managed active listed equities.

Type of screening

Screened by


Products and Sectors

Negative screening and exclusion of companies involved in thermal mining with 75% of revenues derived from sales of coal products, illegal weapons such as cluster munitions or companies involved in the development or production phase of nuclear weapon programmes are excluded from all funds. Further, several of Nordeas funds and mandates apply addition screening filters and exclude companies that have more than 5% of their revenues from tobacco, alcohol, gambling, pornography or other military equipment.


Nordea excludes companies violating international norms on human rights, labour rights, corruption and the environment if an engagement engagement does not lead to progress, or the company is unwilling to change. This is then done for all Nordeas funds (internally managed and WL). Further, several of Nordeas funds and mandates apply a norm exclusion screening filter rather than the engagement strategy for all other funds. This means that the fund will exclude all companies that can be identified to violate international norms instead of initiating engagement.





Screened by


Nordeas ESG enhanced positively screened fund of family, the stars funds, assesses companies both based on the companys products contribution to sustainable development, how they behave (i.e if there are any controversies reported) but also how they in general manange ESG risks and opportunities. Included in the way we view a companys products contribution to SD, is also a positive or negative bias towards different sectors.

The ESG analysis and assessment looks at commitment from management, policies, management systems and targets/progress on targets related to key ESG issues within the company.

Screened by

          Rios declaration on development and the environment


The annual screning we do with the support from Ethix, to identifiy companies that are violating international norms on the above mentioned, are based on the conventions and principles as indicated above. Ethix also has experts with key competence in specific areas that we use both to support in our work (i.e expert knowledge around occupied territory controversies), and which conventions and principles to look to as a basis and foundation for the screening. We also receive updates on the changes to Ethix assessment on ad-hoc basis.

06.2. Describe how the screening criteria are established, how often the criteria are reviewed and how you notify clients and/or beneficiaries when changes are made.

The screening criterias are rather fixed. Ethix may change or update the basis for screening, i.e new conventions for the norm screening. If Nordea wants to change the screening criterias we request Ethix to perform the screening after, this decision lies with the RI committee.

LEI 07. Processes to ensure screening is based on robust analysis

07.1. Indicate which processes your organisation uses to ensure screening is based on robust analysis.

07.2. Additional information. [Optional]

LEI 08. Processes to ensure fund criteria are not breached

08.1. Indicate which processes your organisation uses to ensure fund criteria are not breached

08.2. If breaches of fund screening criteria are identified - describe the process followed to correct those breaches.

All identified breaches are mandatory to report as incident to compliance for follow-up. 

08.3. Additional information.[Optional]