NFU Report Highlights Union-Led Sustainability Initiatives

As political momentum for sustainable finance slows globally, the Nordic Financial Unions (NFU) is spotlighting the power of collective, union-led action. In our newly published report, Sustainability-Related Activities 2024, we highlight 25 concrete initiatives carried out by our member unions in Denmark, Finland, Norway, and Sweden, showing how unions in the Nordic financial sectors actively contribute to a just and green transition.

Supporting Learning and Cross-Border Union Cooperation

This report aims to share knowledge, inspire action, and strengthen cooperation among NFU’s member affiliates. By gathering and sharing examples of union involvement in sustainable finance, we hope to encourage learning and identify opportunities for deeper collaboration. This initiative is part of our ongoing efforts through the NFU Reference Group on Sustainable Finance, which acts as a hub for exchanging ideas and best practices among affiliates.

A Nordic Contrast to Global Trends

While the U.S. is rolling back its climate efforts and the EU’s Green Deal is facing increasing political pressure, the affiliates of the NFU present a stark contrast. The Nordic countries are at the forefront of sustainable development, which is no coincidence. Rooted in democratic values and strong social dialogue, the Nordic model creates space for long-term, inclusive sustainability work.

This report illustrates how these values are put into practice through social dialogue and a focus on empowering financial workers to be part of the transition.

“This issue is more important than ever at the global level. It’s deeply concerning that sustainability no longer seems to be a political priority, even within the EU,” says Carin Hallerström, NFU’s General Secretary. “In times like these, it’s vital that we not only stay the course, but also show what we are doing and how others can be inspired by it.” Hallerström continues.

Union-Led Action Across the Region

The report outlines the many ways NFU’s member unions contributed to sustainability in 2024:

• Denmark: Promoting the role of employee representatives in corporate sustainability reporting and hosting webinars to strengthen knowledge.
• Finland: Advancing green skills through the “Pro Goes Green” program and participating in international training on sustainable finance.
• Norway: Fostering dialogue on circular finance and sustainability and launching an industry program focusing on sustainability.
• Sweden: Joined a high-level tripartite meeting on the Nordic level, raising awareness among members and international cooperation.

Unions as Pillars of a Just Transition

NFU’s report reflects a firm belief that trade unions play a vital role in ensuring that the green transition is not only environmentally sound but also socially fair and democratically driven.

This report reflects NFU's commitment to ensuring financial workers’ voices are part of the green transition through social dialogue, policy influence, and cross-border cooperation.