Kommunalbanken AS
Kommunalbanken AS, commonly referred to as KBN, is a leading financial institution headquartered in Norway. Established in 1999, KBN primarily serves the public sector, providing financing solutions tailored for municipalities and county authorities across the country. With a strong focus on sustainable development, the bank has positioned itself as a key player in the Norwegian financial landscape. KBN offers a range of core services, including long-term loans and financial advisory, distinguished by its commitment to low-cost funding and risk management. The bank's unique approach to financing public projects has earned it a reputation for reliability and efficiency. As a result, Kommunalbanken AS has achieved significant milestones, solidifying its market position as a trusted partner for local governments in Norway.
DitchCarbon Score
How does Kommunalbanken AS'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 Financial Intermediation 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
Kommunalbanken AS's score of 44 is higher than 69% of the industry. This can give you a sense of how well the company is doing compared to its peers.
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Kommunalbanken AS's reported carbon emissions
In 2023, Kommunalbanken AS reported total carbon emissions of approximately 7,689,000 kg CO2e. This figure includes 8,000 kg CO2e from Scope 1 emissions, which primarily arise from direct operations. Scope 2 emissions accounted for about 3,572,000 kg CO2e, with a market-based approach contributing 162,110 kg CO2e. Notably, the majority of emissions, approximately 7,659,000 kg CO2e, were classified under Scope 3, primarily from business travel. Comparatively, in 2022, the bank's total emissions were about 4,321,000 kg CO2e, with Scope 1 emissions at 53,000 kg CO2e and Scope 2 emissions at 306,000 kg CO2e. This indicates a significant increase in emissions from 2022 to 2023, particularly in Scope 3 categories. Despite the increase in emissions, Kommunalbanken AS has not set specific reduction targets or initiatives as part of their climate commitments. The organisation does not currently participate in the Science Based Targets initiative (SBTi) or have documented reduction targets. The emissions data is not cascaded from any parent organisation, indicating that all reported figures are directly from Kommunalbanken AS. The bank continues to focus on transparency in its emissions reporting, as evidenced by its annual reports and green bond framework documentation.
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| 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | |
|---|---|---|---|---|---|---|
| Scope 1 | - | 000,000 | 00,000 | 00,000 | 00,000 | 0,000 |
| Scope 2 | 57,210 | 0,000,000 | 0,000,000 | 0,000,000 | 000,000 | 000,000 |
| Scope 3 | - | - | - | - | - | 0,000,000 |
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.
Kommunalbanken AS 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.
