NFU Policy Paper: Making Headway to Sustainable Finance
NFU´s latest Policy Paper, adopted at the Management Board meeting in Oslo in November 2019, puts forward the views of trade unions and finance sector employees in the sustainable finance discussions and addresses the needs, demands and added value that employees and trade unions bring forward in that scope.
Sustainability has been the cornerstone of societies in the Nordic region, and even more so, of the Nordic model. In recent years, sustainable development has been closely connected to sustainable finance due to the magnitude of public and private funding needed for realizing various sustainability-related goals.
But sustainable finance as such is much broader than sustainable investments only – touching upon areas such as education, job creation, consumer protection, inclusivity, digitalization and more, thus changing the traditional role of the finance sector, and all its stakeholders.
This Policy Paper explores four main elements:
– Rationale behind sustainability and its specific importance for the Nordic countries, further addressing the key role of trade unions and finance sector employees in the process;
– Definition of sustainable finance that reflects the views of finance sector employees and trade unions, founded on a ´wider approach´ and ´shift in perspective´;
– The ESG approach, with particular emphasis on S and G – while acknowledging the actions needed to address climate change and environmental degradation, it is essential that these actions have a social backbone and a governance stance, in order not to miss the mark on sustainability;
– Policy recommendations, contributing to a regulatory system that enables sustainable financial sector, communities and societies.
Read the Policy Paper in full here