Folksam
Folksam, officially known as Folksam Group, is a prominent insurance and financial services provider headquartered in Stockholm, Sweden. Established in 1908, the company has evolved into a leading player in the Nordic insurance market, with a strong presence across Sweden and Finland. Specialising in life insurance, property insurance, and pension savings, Folksam is renowned for its commitment to sustainability and customer-centric solutions. The company’s unique approach combines comprehensive coverage with a focus on ethical investments, setting it apart in a competitive landscape. With a robust market position, Folksam has achieved significant milestones, including being one of the largest mutual insurance companies in Sweden. Its dedication to social responsibility and innovation continues to drive its success in the insurance industry.
DitchCarbon Score
How does Folksam's carbon action stack up? DitchCarbon scores companies based on their carbon action and commitment to reducing emissions. Read about our methodology to learn more.
Industry Average
Mean score of companies in the Insurance Services industry. Comparing a company's score to the industry average can give you a sense of how well the company is doing compared to its peers.
Industry Benchmark
Folksam's score of 35 is higher than 83% of the industry. This can give you a sense of how well the company is doing compared to its peers.
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Folksam's reported carbon emissions
In 2023, Folksam reported total carbon emissions of approximately 745,217,000 kg CO2e, with significant contributions from Scope 3 emissions, which accounted for about 99.5% of their total emissions. Specifically, Scope 1 emissions were approximately 233,000 kg CO2e, including about 67,000 kg CO2e from fugitive emissions, while Scope 2 emissions totalled around 249,000 kg CO2e. Comparatively, in 2022, Folksam's total emissions were about 727,456,000 kg CO2e, indicating a slight increase in their overall carbon footprint. The breakdown for 2022 showed Scope 1 emissions at approximately 230,000 kg CO2e and Scope 2 emissions at around 232,000 kg CO2e. Despite these figures, Folksam has not publicly committed to specific reduction targets or initiatives, as indicated by the absence of documented reduction targets or climate pledges. This lack of formal commitments may reflect broader industry trends where many organisations are still developing comprehensive strategies to address climate change. Overall, Folksam's emissions data highlights the significant impact of Scope 3 emissions in their carbon footprint, underscoring the importance of addressing these upstream and downstream activities in future climate strategies.
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| 2017 | 2018 | 2020 | 2021 | 2022 | 2023 | |
|---|---|---|---|---|---|---|
| Scope 1 | 539,000 | 000,000 | 000,000 | 000,000 | 000,000 | 000,000 |
| Scope 2 | 544,000 | 000,000 | 000,000 | 000,000 | 000,000 | 000,000 |
| Scope 3 | 1,050,700 | 000,000,000 | 00,000 | 000,000,000 | 000,000,000 | 000,000,000 |
Industry emissions intensity
Location emissions intensity
Reduction initiatives & disclosure networks
Companies disclose and commit to reducing emissions to show they are serious about reducing emissions impact over time. They can also help a company track its progress over time.
Folksam is not participating in any of the initiatives that we track. This may change over time as the company engages with new initiatives or updates its commitments. DitchCarbon will update this information as it becomes available.
