Nasdaq Green Designations support equity issuers on Nasdaq European markets with their green business models and strategies. The aim of the Nasdaq Green Designations is to enable increased visibility and transparency for companies toward investors looking for sustainable investments.
Nasdaq Green Designations encompass two voluntary designations that companies can apply for: Nasdaq Green Equity Designation and Nasdaq Green Equity Transition Designation. Nasdaq Green Equity Designation targets companies that have over 50 percent of their turnover deriving from activities considered green and are continuing to invest a significant share in green activities. Nasdaq Green Equity Transition Designation is attainable for companies with the ambition to transition to become green and have a significant share of their investments allocated to green activities.
The qualitative assessments of the companies applying for the designations are done by a Nasdaq approved reviewer.
Who Can Apply
The Nasdaq Green Designations are offered to new and existing issuers on Nasdaq's European Main Markets and First North Growth Market, including First North Premier Growth Market in Sweden, Finland, and Denmark. Companies in listing process for a Nasdaq Nordic listing may also apply and are eligible from their first day of trading. Approved issuers will be indicated with a symbol in the Shares list and the reviewer’s assessment report and additional relevant information will be available on the company information page on the Nasdaq Nordic website.
Nasdaq Green Equity Designation
The Green Equity Designation is a designation for equity issuers listed on our Nordic markets that have more than 50 percent of their revenue deriving from business activities considered green. Furthermore, more than 50 percent of the company’s investments must be allocated to activities considered green and revenue derived from fossil fuel activities must be less than 5 percent.
For companies in pre-revenue phase the 50 percent threshold requirement for revenue considered green does not apply. As soon as a pre-revenue company starts generating any revenue, it must comply with the minimum requirement.
Nasdaq Green Equity Transition Designation
The Green Equity Transition Designation is a designation for equity issuers listed on our Nordic markets that have more than 50 percent of their investments allocated to green business operations.
For Nasdaq Green Equity Transition Designation there is no minimum threshold for revenue from activities considered green. The company must have less than 50 percent revenue deriving from fossil fuels.
The Nasdaq Green Equity Principles are requirements to be fulfilled by a company to be approved for the Nasdaq Green Designations. A company’s alignment with these Principles must be assessed by a Nasdaq approved reviewer firm, that shall apply its own public proprietary methodology for the assessment.
The proprietary methodology used by each reviewer is available in the reviewer information section.
How To Apply
The company must submit an application in the Listing Center which can be accessed here.
The requirements are outlined in the Nasdaq Green Equity Principles. The reviewer will use its own proprietary methodology for their assessment of a company's alignment with the Nasdaq Green Equity Principles. Nasdaq will not make a qualitative environmental assessment. The applicaton process includes the following steps:
Nasdaq Green Designation Webinar
On June 9 we launched our Nasdaq Green Equity Designation, a voluntary designation for companies listed on our Nordic markets that want to increase visibility around their green business models and strategies.
Key Benefits of Nasdaq Green Designations
Via Nasdaq websites and market data dissemination channels, the Green Designation enables companies to showcase their green business model, strategies and KPIs towards investors. The methodology used by the Nasdaq approved reviewer is made public and is included in the reviewer’s assessment report.
Nasdaq Green Equity Principles are based on the latest developments within sustainable finance, and the approved reviewer assessment provides credibility to the company’s green status.
Nasdaq amplifies the company's Green Designation visibility via Nasdaq’s digital channels.
Platzer wants to make a positive contribution to society by having a carbon footprint that is as small as possible. Today we are very proud to be one of the first companies in Sweden to have been approved under the Nasdaq Green Equity Designation. Nasdaq’s Green Equity Designation will make it easier for investors of all sizes to make wise, sustainable investment decisions.
Green Equity Designation Factsheet Download Green Equity Designation Factsheet
Green Equity Transition Designation Factsheet Download Green Equity Transition Designation Factsheet
Green Equity Principles Download Green Equity Principles
Green Designations Required Information Download Green Designations Required Information
Green Designations Assessment & Renewal Process Download Green Designations Assessment & Renewal Process
Nasdaq Green Designations are available to issuers listed on Nasdaq Main Markets and First North Growth Markets including Premier segments in Sweden, Finland, and Denmark. Additionally, companies in listing process can apply, and once approved will be eligible for the Nasdaq Green Equity Designation from their first day of trading. Companies not listed on Nasdaq markets are not eligible for Nasdaq Green Designations.
- A Nasdaq approved reviewer will make a qualitative assessment regarding a company’s alignment with the qualification criteria in the Nasdaq Green Equity Principles. Currently, the approved firm is CICERO Shades of Green and V.E, a part of Moody's ESG Solutions.
- A Nasdaq approved reviewer will assess the company's alignment with the requirements in the Nasdaq Green Equity Principles. The approved reviewer will use its own methodology for the assessment. Nasdaq does not make any qualitative assessment and relies on the approved reviewer's assessment of issuers' alignment with the Nasdaq Green Equity Principles.
The company must commit to an annual limited assessment of its alignment with the Nasdaq Green Equity Principles by a Nasdaq approved reviewer and submit a renewal application to Nasdaq via the Listing Center application. The company must commit to share relevant information including environmental information in Nasdaq’s ESG Data Portal and update it on an annual basis in connection with the renewal application of the designation. A full assessment is required every third year. However, if there have been structural or other material changes in the company a full assessment is required.
- While the timeline for an assessment and approval process may vary, it generally takes from one to two months.
- The designation is valid 12 months. To uphold the designation, an approved reviewer must conduct a timely annual limited assessment to validate that the company still meets the requirements, and the renewal application must be submitted to Nasdaq no later than 10 business days ahead of expiration of the designation. See the product sheet for more information.
Reviewer Contact List Download Reviewer Contact List
Methodology Description – CICERO Shades of Green Download Methodology Description – CICERO Shades of Green
Methodology Description - V.E, a part of Moody's ESG Solutions Download Methodology Description - V.E, a part of Moody's ESG Solutions
As part of Nasdaq’s commitment to ESG, and based on the increased demand for sustainable investments, we are launching Nasdaq Green Designations to support equity issuers with their green business models and strategies.Senior Vice President, Head of European Listings
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