Novo Nordisk A/S, together with its subsidiaries, engages in the research and development, manufacture, and distribution of pharmaceutical products. It operates through two segments, Obesity and Diabe... Novo Nordisk A/S, together with its subsidiaries, engages in the research and development, manufacture, and distribution of pharmaceutical products. It operates through two segments, Obesity and Diabetes Care, and Rare Disease. The Obesity and Diabetes care segment provides products for diabetes, obesity, cardiovascular, and other emerging therapy areas. The Rare Disease segment offers products in the areas of rare blood disorders, rare endocrine disorders, and hormone replacement therapy. The company also provides NovoPen 6 and NovoPen Echo Plus, smart insulin pens; Dose Check, an insulin dose guidance application; and growth hormone pens and injection needles. It operates in Europe, Canada, the United States, Japan, Korea, Oceania, Southeast Asia, Mainland China, Hong Kong and Taiwan, Latin America, the Middle East, and Africa. Novo Nordisk A/S was founded in 1923 and is headquartered in Bagsvaerd, Denmark.
In 2025, Novo Nordisk was subject to the Corporate Sustainability Reporting Directive (CSRD)'s requirements, which mandated the company to publish EU Taxonomy disclosures.
The company reported the eligibility and alignment of Turnover, Capital Expenditure (CAPEX) and Operating Expenditure (OPEX) with the EU Taxonomy, helping assess the extent to which its business activities align with Europe's environmental sustainability goals.
Novo Nordisk has also provided an activity-level breakdown of its EU Taxonomy disclosures. This granular reporting enhances transparency around which economic activities of Novo Nordisk are considered environmentally sustainable and contribute to at least one of the six environmental objectives defined under the EU Taxonomy framework.
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2022 - 2017
Total Taxonomy Aligned Turnover
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Total Taxonomy Eligible Turnover
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2024
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2022 - 2017
Total Taxonomy Aligned Opex
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Total Taxonomy Eligible Opex
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2024
2023
2022 - 2017
Total Taxonomy Aligned Capex
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Total Taxonomy Eligible Capex
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7.1 CCM/CCA - Construction of new buildings
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Limited Data Preview
You are viewing a limited preview of Novo Nordisk’s EU Taxonomy dataset. The full dataset, available for download, includes eligibility and alignment metrics for turnover, CAPEX, and OPEX across all EU Taxonomy categories, at both aggregate and activity level, with historical coverage back to 2022.
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Verified Sources Behind Novo Nordisk’s EU Taxonomy Data
Every figure on this dashboard has a transparent audit trail. With Tracenable, each data point is traceable back to its original source, viewable directly inside our platform. Explore Novo Nordisk’s data sources below and access millions more through our Disclosure Search.
a. Novo Nordisk's Annual Report 2025
b. Novo Nordisk's Annual Report 2024
c. Novo Nordisk's Annual Report 2023
d. Novo Nordisk's Annual Report 2022
Insights into Novo Nordisk's Revenues from Sustainable Activities
In 2025, Novo Nordisk reported EU Taxonomy-eligible revenues of DKK 309.06 billion, representing 100% of its total turnover. Of this amount, DKK 0 of Novo Nordisk's revenues was classified as EU Taxonomy-aligned, indicating that 0% of the revenue-generating activities undertaken by the company substantially contribute to one or more of the six environmental objectives, meet the Do No Significant Harm (DNSH) criteria, and comply with the Minimum Social Safeguards (MSS).a
Insights into Novo Nordisk's CAPEX from Sustainable Activities
In 2025, Novo Nordisk reported EU Taxonomy-eligible CAPEX of DKK 59.38 billion,representing 63% of its total CAPEX. Of this amount, DKK 5.84 billion of Novo Nordisk's CAPEX was classified as EU Taxonomy-aligned, indicating that 6% of the company's investments were directed toward economic activities that substantially contribute to one or more of the six environmental objectives, meet the Do No Significant Harm (DNSH) criteria, and comply with the Minimum Social Safeguards (MSS).a
Novo Nordisk's Taxonomy-Eligible Capex Over Time
Total Taxonomy Eligible Capex
Total Taxonomy Aligned Capex
Have Novo Nordisk's increased its investment in sustainable activities over time?
Compared to the previous year (2024), Novo Nordisk's taxonomy-aligned CAPEX increased by 100%,highlighting Novo Nordisk's strengthened commitment to investing in environmentally sustainable activities or improving how such investments are classified and reported under the EU Taxonomy.a, b
How much of Novo Nordisk's capital expenditure (CAPEX) is eligible under the EU Taxonomy?
In 2025, Novo Nordisk reported that DKK 59.38 billion of its capital expenditure (CAPEX) was eligible under the EU Taxonomy, representing 63% of the company's total CAPEX. Of this amount, DKK 5.84 billion (6% of total CAPEX) was classified as Taxonomy-aligned. This means that 57% of Novo Nordisk's CAPEX is eligible but not aligned, indicating that these investments either did not meet the technical screening criteria, failed to comply with the Do No Significant Harm (DNSH) requirements, or lacked evidence of meeting the Minimum Safeguards (MSS).a
How much of Novo Nordisk's eligible CAPEX is aligned with the EU Taxonomy?
In 2025, Novo Nordisk reported that DKK 5.84 billion of its CAPEX was aligned under the EU Taxonomy, representing 6% of its total capital investment.a
This low alignment reflects that Novo Nordisk is beginning to transition its capital allocation toward greener investments, but still retains substantial opportunities for further alignment with sustainability goals.
Novo Nordisk's Eligibility & Alignment Overview
Novo Nordisk's Contribution to Environmental Objectives
Total Taxonomy Aligned Capex
How is Novo Nordisk's taxonomy-aligned CAPEX distributed across the EU environmental objectives?
In 2025, Novo Nordisk reported that its taxonomy-aligned capital expenditure (CAPEX) was distributed across the following EU environmental objectivesa:
Climate Change Mitigation: 6%
Climate Change Adaptation: 0%
Sustainable Use and Protection of Water and Marine Resources: 0%
Transition to a Circular Economy: 0%
Pollution Prevention and Control: 0%
Protection and restoration of biodiversity and ecosystems: 0%
How much Novo Nordisk is investing in climate-related solutions?
In 2025, Novo Nordisk allocated DKK 5.65 billion of its CAPEX to activities contributing to the EU Taxonomy's climate-related objectives (Climate Change Mitigation and Climate Change Adaptation). This represented 6% of the company's total capital expenditure,indicating that Novo Nordiskhas only marginally directed its capital expenditure toward climate-related activities, suggesting limited alignment with climate objectives.a
Insights into Novo Nordisk's OPEX from Sustainable Activities
In 2025, Novo Nordisk reported EU Taxonomy-eligible OPEX of DKK 0,representing 0% of its total operating expenses (OPEX). Of this amount, DKK 0 of Novo Nordisk's OPEX was classified as EU Taxonomy-aligned, indicating that 0% of the company's operating expenses were directed toward economic activities that substantially contribute to one or more of the six environmental objectives, meet the Do No Significant Harm (DNSH) criteria, and comply with the Minimum Social Safeguards (MSS).a
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