KfW, officially known as Kreditanstalt für Wiederaufbau, is a prominent financial institution headquartered in Frankfurt, Germany. Established in 1948, KfW has played a pivotal role in Germany's economic development, focusing on financial intermediation services, excluding insurance and pension funding. The bank primarily operates within Europe, providing essential funding for various sectors, including infrastructure, innovation, and environmental sustainability.
KfW's core offerings include low-interest loans, grants, and investment support, uniquely tailored to foster economic growth and social development. With a strong commitment to sustainability, KfW has positioned itself as a leader in financing green projects, contributing significantly to Germany's transition to a low-carbon economy. Notable achievements include its consistent ranking among the world's most sustainable banks, reflecting its dedication to responsible financial practices and social impact.
+11 vs industry average
Kfw’s score of 48 is higher than 65% of the industry. This can give you a sense of how well the company is doing compared to its peers.
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Industry Intensity
Financial Intermediation is among the least carbon-intensive industries
Industry performance
The Financial Intermediation industry has reduced its overall emissions by 33% since 2018
Emissions trajectory 2020 – 2027
Reported emissions
Scope 3 accounts for ••• of total emissions.
Kfw's reported carbon emissions
KfW, headquartered in Germany and operating in financial intermediation services, demonstrates a commitment to climate action through its emissions reporting and reduction initiatives.
Emissions Data:
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In 2024, KfW reported Scope 1 emissions of approximately 3.9 million kg CO2e, Scope 2 (market-based) emissions of about 2.0 million kg CO2e, and Scope 2 (location-based) emissions of approximately 11.6 million kg CO2e. Scope 3 emissions for this year included:
- Capital goods: approximately 7.8 million kg CO2e
- Business travel: about 5.9 million kg CO2e
- Employee commute: approximately 7.8 million kg CO2e
- Purchased goods and services: about 54.8 million kg CO2e
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For 2023, KfW reported total emissions of approximately 17.3 million kg CO2e, with Scope 1 emissions at about 3.0 million kg CO2e, Scope 2 emissions at approximately 1.2 million kg CO2e, and Scope 3 business travel emissions totalling roughly 12.9 million kg CO2e.
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Previous years show varying absolute emissions figures:
- 2022: Total emissions of approximately 10.8 million kg CO2e, including Scope 1 at about 4.6 million kg CO2e, Scope 2 at around 1.4 million kg CO2e, and Scope 3 business travel at approximately 4.8 million kg CO2e.
- 2021: Total emissions were about 9.2 million kg CO2e, with Scope 1 at approximately 6.6 million kg CO2e, Scope 2 at roughly 1.4 million kg CO2e, and Scope 3 business travel at about 1.2 million kg CO2e.
- 2020: Total emissions were approximately 8.2 million kg CO2e, comprising Scope 1 at about 5.4 million kg CO2e, Scope 2 at around 1.2 million kg CO2e, and Scope 3 business travel at approximately 1.6 million kg CO2e.
- 2019: Total emissions stood at about 14.6 million kg CO2e, with Scope 1 at approximately 5.4 million kg CO2e, Scope 2 at about 1.3 million kg CO2e, and Scope 3 business travel at roughly 7.8 million kg CO2e.
- 2018: Total emissions were approximately 16.2 million kg CO2e, including Scope 1 at about 5.6 million kg CO2e, Scope 2 at roughly 1.9 million kg CO2e, and Scope 3 business travel at about 8.7 million kg CO2e.
- 2017: Total emissions were around 15.3 million kg CO2e, with Scope 1 at approximately 5.6 million kg CO2e, Scope 2 at about 1.4 million kg CO2e, and Scope 3 business travel at roughly 8.2 million kg CO2e.
- 2016: Scope 1 emissions were about 5.3 million kg CO2e, Scope 2 at approximately 1.4 million kg CO2e, and Scope 3 at around 7.4 million kg CO2e.
- 2015: Scope 1 emissions were roughly 5.1 million kg CO2e, Scope 2 at approximately 1.1 million kg CO2e, and Scope 3 at about 7.4 million kg CO2e.
- 2014: Total emissions were approximately 16.3 million kg CO2e, including Scope 1 at about 4.6 million kg CO2e, Scope 2 at roughly 2.1 million kg CO2e, and Scope 3 business travel at about 9.4 million kg CO2e.
- 2013: Total emissions were approximately 16.6 million kg CO2e, with Scope 1 at about 5.9 million kg CO2e, Scope 2 at roughly 2.6 million kg CO2e, and Scope 3 business travel at about 8.1 million kg CO2e.
- 2012: Total emissions were around 13.6 million kg CO2e, including Scope 1 at about 5.1 million kg CO2e, Scope 2 at roughly 0.4 million kg CO2e, and Scope 3 business travel at approximately 8.1 million kg CO2e.
Climate Commitments and Reduction Targets:
KfW has established several climate-related objectives:
- Scope 2 Emissions Reduction: KfW aims to reduce its Scope 2 emissions by 30% by 2030, using 2020 as a baseline.
- Scope 1 Emissions Reduction: Similarly, KfW aims to decrease its Scope 1 emissions by 30% by 2030, also from a 2020 baseline.
- Decarbonisation of Site Energy Supply: The KfW Group is committed to decarbonising the energy supply to its sites by 2030. This involves minimising CO2 emissions and reducing the use of fossil fuels wherever possible. This initiative is expected to achieve an 80% reduction in carbon emissions at its sites.
- Site-Specific Initiatives: As part of the "Climate-neutral Site Plan 2030," KfW has implemented projects such as the "Sustainable Energy Supply" at its Bonn site, targeting an approximate 80% reduction in carbon emissions at that location.
- Energy Efficiency Project: Since 2017, KfW has been upgrading its uninterruptible power supply (UPS) system. This project is expected to result in efficiency gains, reducing power loss and consequently CO2 emissions.
KfW's climate commitments and emissions reporting reflect its dedication to mitigating its environmental impact within the financial intermediation sector.
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Kfw’s Climate Goals (2030 & 2050)
4 goals2030
30% reduction in Scope 1
KfW aims to reduce its Scope 1 emissions by 30% by 2030 from a 2020 baseline.
2030
62% reduction in total GHG
Vs 2019 baseline. Validated by SBTi. Includes full supply chain.
2040
50% reduction in Scope 3 intensity
Across purchased goods and services and logistics.
See all 4 climate goals
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Scope 3 top emissions categories
4 of 15 categories disclosedSee all scope 3 categories
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Climate initiatives
Science Based Targets Initiative
Carbon Disclosure Project
The Climate Pledge
UN Global Compact Climate Champions initiative
RE 100
Climate Action 100
Emissions comparison with industry peers
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