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 61% 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 740,000,000 kg CO2e, with emissions distributed across various scopes: 233,000 kg CO2e from Scope 1, 249,000 kg CO2e from Scope 2, and a significant 740,000,000 kg CO2e from Scope 3. Notably, Scope 3 emissions included about 327,620 kg CO2e from business travel and 3,000 kg CO2e from waste generated in operations. Comparatively, in 2022, Folksam's emissions were slightly lower, totalling around 723,000,000 kg CO2e, with Scope 1 emissions at 230,000 kg CO2e and Scope 2 at 232,000 kg CO2e. The trend shows a slight increase in Scope 3 emissions from 660,954,000 kg CO2e in 2021 to the current figure. Despite these figures, Folksam has not set specific reduction targets or initiatives as part of their climate commitments, nor do they appear to have cascaded data from a parent organisation. Their emissions data is independently reported, reflecting their operational impact without external influence. Overall, while Folksam's emissions remain substantial, the absence of defined reduction strategies highlights an area for potential improvement in their climate action framework.
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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.
