Activist-captured Danish funds back challenge against Nordea over Arctic oil at AGM

Nordea is one of 19 banks that participate in a revolving credit facility worth $5 billion to Equinor, which, "serves as a backstop facility for the group's borrowing in the US Commercial Paper market," Equinor said in its debt presentation.

Sampension said they would vote in favour of the resolution because, "certain types of activities appeared to have been excluded," from Nordea's assessment of its exposure to fossil fuel expansion.

"In our assessment of both the proposal and the board of directors' response to the proposal, it appears that the company has not provided shareholders with a sufficiently transparent picture of its activities related to the financing of fossil fuel expansion," Jacob Ehlerth Jorgensen, Head of ESG at Sampension, told Reuters by email.

(Reporting by Anne Kauranen in Helsinki, additional reporting by Nora Buli in Oslo, editing by Andrei Khalip)