Danske Bank

InfluenceMap Score
C
Performance Band
64%
Organisation Score
51%
Relationship Score
Sector:
Financials
Head​quarters:
Copenhagen, Denmark
Official Web Site:
Wikipedia:

Danske Bank appears to have had mostly positive engagement on sustainable finance policy. Danske Bank has advocated for the role of finance in keeping global temperature to 1.5C and reach net-zero by 2050. It has also stated support for a role for the financial sector in meeting the goals of the Paris Agreement and in a 2019 interview, CEO Karsten Dybvad appeared to support reform to achieve a more sustainable financial system.

In its Sustainable Investment report in 2019 Danske Bank cautioned against prescriptive regulation or regulation that would penalize damaging activities. However, in its 2021 Responsible Investment report, Danske Bank appeared supportive of the EU's Action Plan on Sustainable Finance.

In 2020, Danske Bank supported an ambitious review of the NFRD in feedback to the Commission.

Danske Bank stated top-line support for the taxonomy on its website in 2020 and in its 2021 Responsible Investment report. In feedback to the Commission in 2020, it stated support for expanding the taxonomy to cover environmentally harmful activities and social issues.

Danske Bank appears to have engaged the most on the EU's Ecolabel regulation, stating support for the policy in its Sustainability Report and CDP response. However, in its response to the JRC's first questionnaire on the Ecolabel, Danske Bank took a more cautious position, suggesting that green criteria should not be too strict and that verification should be kept simple to keep costs down. In response to the Commission in 2020 it also supported the accreditation of verifiers of EU Green Bonds and standards for sustainability-linked bonds or loans. In its 2021 Responsible Investment report, Danske Bank also appeared to support EU’s climate benchmarks.

In feedback to the Commission consultation on the Renewed Sustainable Finance Strategy in 2020, Danske Bank suggested that guidelines should be introduced to allow asset managers to understand fiduciary duties relating to sustainability but did not appear to support changes to the legal fiduciary duty framework. Danske Bank further did not appear to support the Commission’s suggestions to update the sustainability guidance and options offered to retail investors. However, it did state support for the Sustainable Finance Disclosure Regulation (SFDR) in its 2021 Responsible Investment report.

Danske Bank has disclosed some of its sustainable finance positions, although it lacks a clear dedicated disclosure of its policy positions and activities undertaken to influence these. Similarly, it has disclosed some of its memberships and board positions, but no further details on indirect influence governance.

QUERIES
DATA SOURCES
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Strength of Relationship
STRONG
 
 
 
 
 
 
 
WEAK
 
48%
 
48%
 
53%
 
53%
 
41%
 
41%
 
46%
 
46%
 
42%
 
42%
 
81%
 
81%

How to Read our Relationship Score Map

In this section, we depict graphically the relationships the corporation has with trade associations, federations, advocacy groups and other third parties who may be acting on their behalf to influence climate change policy. Each of the columns above represents one relationship the corporation appears to have with such a third party. In these columns, the top, dark section represents the strength of the relationship the corporation has with the influencer. For example if a corporation's senior executive also held a key role in the trade association, we would deem this to be a strong relationship and it would be on the far left of the chart above, with the weaker ones to the right. Click on these grey shaded upper sections for details of these relationships. The middle section contains a link to the organization score details of the influencer concerned, so you can see the details of its climate change policy influence. Click on the middle sections for for details of the trade associations. The lower section contains the organization score of that influencer, the lower the more negatively it is influencing climate policy.