Category: INTERNAL COMMUNICATION

DEEP WHITE & Nordea Bank Finland Plc Latvia Branch (Latvia) CSR = NORDEA'S DNA HOW NORDEA ENSURED THAT IT’S CSR IS NOT JUST PR?

Summary To embody the vision that corporate social responsibility (CSR) is part of Nordea’s DNA and business strategy, internal communication was chosen as the key. Nordea truly believes that only engaged employees can really ensure that CSR is as an integral part of the business – integrated into the bank’s products, customer service standards and bank’s relationships with its stakeholders.Employees from all levels and departments were involved in development of CSR strategy from the very foundations – starting with situational analysis, defining goals, objectives, ending with the instigation and implementation of the CSR programme. CSR task force, targeted internal communication campaign and integration of CSR in human resource policies helped to ensure that employees believe in CSR philosophy and are proud ambassadors of it.75% of all employees associate with Nordea when it implements activities relating to CSR. 65% are actively involved in community and environmental endeavours. One in five, or nearly 80 employees participated in financial literacy programme, many of them become financial coaches, around 10% of staff utilised volunteer day paid for by the bank. And those are only few examples.

Situation

Latvians are cynical and sceptical. They do not believe socially responsible behaviour is the norm, meanwhile considering that CSR is just PR. Charity campaigns for someone to clear a guilty conscience. Or greenwashing: environmental campaigns for gaining popularity.While exactly this approach remains widespread among Latvian companies, Nordea Bank‘s Latvian branch decided to implement the guiding principle defined by the group: CSR is a part of Nordea's DNA.This means that Nordea CSR is primarily integrated into the bank’s everyday business. In the bank’s products, customer service standards, the bank's active participation in improving the Latvian business environment, etc.

Objectives

Developing and implementing a CSR strategy based on Nordea‘s values and in line with public expectations of the banking business was set as the main goal.To avoid hollow phrases, comprehensive employee participation in the development and implementation of the CSR strategy was identified as the key foundation of CSR policy.KPI:At least 75% of employees understand and identify with the company’s defined CSR policyAt least 50% of the bank's employees actively participate in CSR activities

Strategy

ENGAGEMENT IS KEY Nordea employees are involved from the very foundations of the CSR strategy. All staff levels and departments involved in defining CSR policy and dimensions. A wide range of staff involved in defining attainable goals, specific KPIs for the next five years. Employee involvement is a necessary precondition for implementing any CSR initiative. Employees not wanting to get involved is litmus paper – maybe the idea is not so good and does not fundamentally

concur with Nordea’s business goals and needs?

CSR IS INTEGRATED IN HR: CSR is integrated into the company's human resource policies and the ability to operate in a socially responsible

manner is set as a criterion for evaluating employees’ performance.

Baltic PR Awards 2012

Category: INTERNAL COMMUNICATION Focused two-way communication enables employees’ views on the bank’s implemented CSR practices to be

ascertained. CSR issues integrated into the annual employee satisfaction survey, employee negotiations, etc.

Execution

Initially, CSR task force was established and internal communication campaign deployed: board members, customer-service and back-office staff sat at one table to agree on definition and understanding of Nordea CSR.Discussions with social-anthropologist, staff interviews defined the essence of bank's responsibilities – as little bad credit as possible, contribution to better business environment, improving financial literacy, etc.

Outcome:1) Systematised CSR Card: four dimensions – Company, Community, Business Environment, Nature – specific sub-targets defined, KPIs, responsible parties. Full agreement on Nordea CSR policy achieved at all levels.

2) Staff organise activities and involve colleagues in attaining CSR objectives, for example:Financial literacy programme:

Specialists developed Latvia’s first financial expertise standards, Financial IQ test, financial knowledge handbook, became financial coaches, voluntarily conducted classes on financial management.Improving business environment:

Specialists participate in professional associations, business-environment vitality measurement Vitametrs, lecture at Nordea business school, universities, represent bank at ‘speed-dating’ events, etc.

Documented ResultsNordea‘s efforts to ensure that employees believe in CSR philosophy and understand its nature, have succeeded.

Annual ESI Employee Satisfaction survey shows that: 79% have seen information regarding CSR; 75% associate with Nordea when it implements activities relating to CSR; 65% have become involved in community and environmental endeavours; 75% confirm that Nordea’a lending practice take account of social and environmental aspects; 81% believe Nordea focuses on reducing its environmental footprint. More than 50% of employees participated in bank-sponsored projects and social events: Nordea Riga Marathon,

Great Cleanup, Earth hour, Donor day, etc. One in five, or nearly 80 employees participated in financial literacy programmes, more than 30 employees have

become financial coaches. More than 30% responded to the call to use the bank's bicycles as a means of transport. Around 10% of staff utilised volunteer day paid for by the bank.

Baltic PR Awards 2012