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The double sustainability

In the run-up to the annual general meeting of Finansforbundet i Nordea (FiN) on 21 March, you will be able to read a little about what the board has been concerned with in the past year.

18. Mar 2025
5 min
English / Dansk

This is no. 3 of 3 articles (find the first one here – and number two here).

When Nordea in every way makes demands on itself, its customers and employees to deliver on the top shelf of the sustainability agenda, there is naturally reason to be proud. 

"We can look ourselves in the eye when it comes to focusing on the green transition and sustainability in general. But... I still raise a small flag of concern," says FiN's president, Kasper Skovgaard Pedersen. 

"Because it matters for the sustainability of employees when the focus on the 'carbon footprint' prevents especially transnational teams from meeting among themselves and with their managers. Earlier in this series of articles, we have focused on psychological safety – that is, the courage to share dreams, doubts and mistakes with each other. And in my view, it's hard to really open up for these if you've never met your teammates ... and maybe not the manager either ... in person, but only on Teams. I'm in no way talking about going back to the previous times of traveling by plane several times a month – but in my view, we've now come down to a point where the focus on 'green' sustainability makes human sustainability suffer."

This dual sustainability is something that is regularly brought up with Nordea – but so far only with very limited success. 

"Especially in the other Nordic countries, the distances are so far that it is not really possible to reach by train without requiring either a night train or an overnight stay ... And then the financial rules often get in the way. So we can do better," says Kasper.

Education without a network
To avoid expensive and environmentally damaging travel etc., almost all education at Nordea is now also online – and thus also the lack of opportunity to create the close networks that come more naturally when you meet physically. 

"The management training also takes place almost exclusively online – even though the topics there are of a very personal nature, where many would prefer to be able to look each other directly in the eye. Because even though the programmes receive good feedback, the network part is missing. In light of the greater demands placed on the managers, I do not think they are given proper conditions. The complexity of the leadership role has increased, e.g. in relation to leading transnational teams with different legislations, collective agreements, agreements and cultures. As far as we can see, there is only one management course in this area. It is titled 'Lead a culturally diverse team' – and has only experienced managers as its target group. We believe that it should be offered quickly if you are a new manager at a transnational level, so Nordea can definitely do better. We have raised the red flag several times in this area," says vice president of FiN, Mette Balck Mejlby. 

Vice president Mette Balck Mejlby

Transnational cooperation 
All business areas have their own Consultative Committee (a kind of transnational cooperation committee), where organisational changes and development are discussed between Nordea and professional union representatives from the Nordic countries. And in addition, we have collaborated with Nordea in other ways, e.g. on employee data and the development of AI. 

"These are all topics that should not be underestimated. But they are very complex, so it is a job that requires expertise and great attention to detail," Kasper states.

Finansforbundet in Nordea's board from Denmark met with colleagues from Norway, Sweden, Finland and Poland when Union in Nordea (now Financial Unions in Nordea) held its annual general meeting in Oslo in May last year.

Dialogue – the only way
When it comes to the cooperation between FiN and Nordea on Danish soil, it has many facets.
"On the one hand, there is the very member-oriented aspect, where our legal advisors talk to many members on a daily basis and to the People organization about the challenges our members face. In general, the cooperation is very good, and we have many examples of really good solutions that the members are satisfied with," says Kasper. 

"But of course, we do not agree on everything – neither when it comes to individual cases nor the more principled ones. Then we meet and cross swords, and try to find a compromise that everyone can live with."

In the Danish Consultative Committee, there have been many topics on the table – from well-being to cost focus, competence development, seniors, attraction and retention, new employees and to diversity. 

"I think we talk about the topics in a respectful tone, and our conversations often end with new things being put into action," says Mette, who also mentions the Working Environment Committee. 

"Here, the themes have been both the purely working environment, but also the election of health and safety representatives and the cooperation itself has been on the agenda."

Nordea's Country Senior Executive Mads Skovlund Pedersen (right) and Finansforbundet in Nordea's president Kasper Skovgaard Pedersen met at their second dialogue meeting in January 2025

"In general, we want to promote good dialogue at all levels, and the new initiative with 'Skovgaard and Skovlund', where I ask the members' questions to Mads Skovlund, has been a success with both physical and online participation," says Kasper. 

"And as the quote-lover that I am, I would like to end with a quote from Olof Palme: 'Dialogue is the only way to mutual understanding and respect'. I think he is absolutely right about that. So we need to cultivate that even more."

Candidate withdrawn - uncontested election

Frederik Cramer, who ran for Finansforbundet in Nordea's board and as a deputy at the annual general meeting on 21 March, has withdrawn his candidacy.

"I got a new job in February as Executive Adviser in Nordea's Danish Anti Money Laundry secretariat, which I am very happy about - even more than I expected. In addition, the terms of a position in Finansforbundet in Nordea are worse than in the new position, which I only became aware of late in the process," says Frederik.

The decision means that there are no longer contested elections for the board, as there are now four candidates for the four seats: Jeppe Lermark Pieszak, Mette Balck Mejlby, Mona Svan and Natascha Bødker Feodor Nielsen, who are all running for re-election. Erik Børsting is now the only candidate running as a deputy.

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