NIB’s main stakeholders are our customers, investors, political decision-makers and public administrations as well as our own staff. We strive to maintain an open, continuous and constructive dialogue with our key counterparties, and engaged in a number of stakeholder activities during 2016.
Events and seminars in 2016
In May 2016, the Nordic Council of Ministers Office in Lithuania organised a seminar in Vilnius entitled “NIB: new opportunities in the Nordic-Baltic region” to mark the Bank’s 40th anniversary. NIB’s President & CEO Henrik Normann participated in the seminar.
In July, NIB arranged a panel discussion on the risks and opportunities of green financing together with Sweden’s Savings Banks Association at Almedalen Week on the Baltic Sea island of Gotland.
On 2 November, NIB hosted a seminar titled “Financing the Future” to celebrate the Bank’s 40th anniversary. The event was held in connection with the annual session of the Nordic Council and took place at Christiansborg Palace in Copenhagen, the seat of the Danish Parliament.
The event gathered politicians, civil servants, representatives of the business community and investors from the Nordic and Baltic countries. The vent was arranged in co-operation with the Finnish Presidency of the Nordic Council of Ministers and the Latvian NB8 Presidency.
Also in November, NIB participated in two panel debates on de-risking and mobilising climate finance at the COP22 UN Climate Conference in Marrakech, Morocco. The events were hosted by the Nordic Council of Ministers.
Following the COP22 Climate Conference, the Nordic Council of Ministers arranged a workshop on climate finance, co-hosted by NIB in Helsinki on 30 November. The workshop gathered participants from the Nordic countries, mainly finance and sustainability professionals from the private and public sector.
Ongoing communication with stakeholders
As an on-going general practice and as defined in NIB’s Public Information Policy, the Bank publishes information on all loans agreed. This includes information about the borrower, the sum of the loan, its maturity, and description of the project.
The degree to which the loan projects comply with the Bank’s mission is published as well. During 2016, NIB signed 58 new loan agreements and invested in eight green bonds.
NIB classifies all loan projects with potential negative social or environmental impacts as Category A projects. Such projects must undergo a full environmental impact assessment (EIA).
The EIAs are made publicly available on NIB’s website (www.nib.int) for a period of 30 days. This allows our stakeholders to give their opinions before the Bank makes a decision on financing the project.
In 2016, NIB published information about seven Category A projects, and received no responses. NIB eventually signed loan agreements with five of the Category A projects.
In line with its Public Information Policy, NIB actively and regularly seeks feedback from its key target groups on their awareness of the Bank and its reputation, the importance of sustainability matters and NIB’s added value. In practice, this is done by conducting a thorough stakeholder survey every three years. The most recent survey was completed in 2015.
The Bank is developing its sustainability reporting based on the Global Reporting Initiative (GRI). NIB aims to report on the most essential economic, environmental and social impacts of its operations. Our reporting also includes indicators from the GRI’s Financial Sector Supplement.
|Key stakeholders||Modes of interaction||2016 activity examples|
|Customers||Private and public companies, institutions, municipalities, sovereign countries, banks and other IFIs||Visits, meetings, seminars, correspondence, newsletters||– 58 new loans signed
– More than two thirds of loans to new customers
– SMEs reached via seven new loans to financial institutions
|Investors||Central and commercial banks, pension and insurance funds, asset managers and government entities||Bilateral meetings, newsletters, seminars, conferences, and web-based communication||– Issuance of three USD benchmark bonds
– Issuance of three NIB Environmental Bonds (NEB)
|Political decision-makers and public administrations||State representatives in Denmark, Estonia, Finland, Iceland, Latvia, Lithuania, Norway, and Sweden, as well as other selected countries where NIB operates||Our owners govern NIB via representatives on the Board of Governors (BoG), Board of Directors (BoD) and Control Committee (CC).||– The BoG approved dividends of EUR 55 million for 2015.
– The BoD held 8 ordinary meetings, one online meeting and one by written procedure.
– “NIB 40” seminar held in connection with the annual Nordic Council session
– Participation in Almedalen and COP22
|NGOs||Non-governmental organisations raising awareness of ways to protect the environment||Publishing information on loans signed. Inviting comments to loan projects with potentially extensive environmental impacts, known as Category A projects||– Contributions to NGOs working to protect the Baltic Sea in the form of expertise and donations|
|Media||Mainly the financial media||Press releases about loans signed, electronic newsletters, emails and bilateral meetings with press representatives||– Interviews with NIB’s directors and experts
– Answering questions from the media
– Offering background information to journalists writing about green investments
|General public||Everyone interested in NIB’s operations||Meetings, website, newsletters, the printed NIB Magazine, online annual reports, social media and emails||– Staff giving presentations about NIB and its mission to various student groups and NGOs
– Dialogue via email@example.com
|Staff||NIB is headquartered in Helsinki and had 195 permanent employees at year-end 2016.||Meetings, intranet, monthly plenum, induction for new employees, in-house training||– Continuation of the “Raising the Bar” training programme
– Monthly plenary meetings
-Staff event for team building