Sustainable finance: Danske Bank ‘shows need for bigger accounting picture’

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Financial Times Special Report on Sustainable Finance, 5 December 2018. Please find editorial commentary by Turid E. Solvang, Founder and CEO, FutureBoards here

The Nordic corporate governance model is typically regarded as a North Star when it comes to openness, trust and responsibility. Yet, the recent Danske Bank scandal across the Nordics and the Baltics has painted a different picture.

The €200bn money laundering scandal has so far resulted in criminal investigations in the US, Denmark and Estonia, as well as costing the jobs of chief executive Thomas Borgen and members of his top management team. And scrutiny is now being directed towards the ousted chairman and members of the board.

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Ludvig Fjellberg