Avanza Sustainability Profile

In 2023, Avanza Bank Holding AB reported total carbon emissions of approximately 494,000 kg CO2e. This figure includes 31,000 kg CO2e from Scope 2 emissions, primarily related to purchased electricity, while Scope 1 emissions were recorded at 0 kg CO2e. The majority of their emissions, about 463,000 kg CO2e, stemmed from Scope 3 activities, which encompass various categories such as capital goods (229,000 kg CO2e), employee commute (73,000 kg CO2e), and purchased goods and services (98,000 kg CO2e). Comparatively, in 2022, Avanza's total emissions were about 300,000 kg CO2e, with Scope 2 emissions at 24,000 kg CO2e and Scope 3 emissions at 276,000 kg CO2e. This indicates a significant increase in total emissions year-on-year, primarily driven by Scope 3 activities. Avanza has committed to long-term net-zero targets, with a focus on reducing emissions across all scopes by 2050. Their portfolio targets cover 11% of total investment and lending activities based on total balance sheet assets as of 2021. This commitment aligns with the Science Based Targets initiative (SBTi) and aims to ensure that their operations are consistent with the reductions required to limit global warming to 1.5°C. Overall, Avanza's climate strategy reflects a proactive approach to managing carbon emissions, with a clear focus on enhancing sustainability within their investment and lending practices.