Kommunalbanken AS Sustainability Profile
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 59 is higher than 76% 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 2024, Kommunalbanken AS reported total carbon emissions of approximately 218,300 kg CO2e, with Scope 1 emissions at 0 kg CO2e, Scope 2 emissions at about 15,800 kg CO2e, and Scope 3 emissions at approximately 66,800 kg CO2e. The previous year, 2023, saw total emissions of about 76890 kg CO2e, with Scope 1 emissions at 800 kg CO2e, Scope 2 emissions at approximately 162,110 kg CO2e (market-based), and Scope 3 emissions at about 76,590 kg CO2e. The bank has set ambitious climate commitments, aiming to reduce its Scope 1 and 2 emissions by at least 55% by 2030 compared to 2019 levels. This strategic objective reflects a strong commitment to climate change mitigation, aligning with industry standards for sustainability. In 2024, the bank's Scope 2 emissions in Norway were reported at approximately 158,000 kg CO2e, while Scope 3 emissions reached about 668,000 kg CO2e. The data indicates a focus on reducing emissions across all scopes, although specific targets for Scope 3 have not been disclosed. Overall, Kommunalbanken AS is actively working towards significant emissions reductions, demonstrating a commitment to sustainability and climate responsibility within the financial sector.
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| 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | |
|---|---|---|---|---|---|---|---|
| Scope 1 | - | 0,000 | 0,000 | 000 | 000 | 000 | - |
| Scope 2 | 57,210 | 00,000 | 00,000 | 00,000 | 00,000 | 000,000 | 00,000 |
| Scope 3 | - | - | - | - | - | 00,000 | 00,000 |
How Carbon Intensive is Kommunalbanken AS's Industry?
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Kommunalbanken AS's Scope 3 Categories Breakdown
Kommunalbanken AS's Scope 3 emissions, which decreased by 13% last year and decreased by approximately 13% since 2023, demonstrating supply chain emissions tracking. The vast majority of their carbon footprint comes from suppliers and value chain emissions, representing the vast majority of total emissions under the GHG Protocol, with "Business Travel" being the largest emissions source at 100% of Scope 3 emissions.
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Kommunalbanken AS's Climate Goals (2030 & 2050)
Climate goals typically focus on 2030 interim targets and 2050 net-zero commitments, aligned with global frameworks like the Paris Agreement and Science Based Targets initiative (SBTi) to ensure alignment with global climate goals.
Kommunalbanken AS has not publicly committed to specific 2030 or 2050 climate goals through the major frameworks we track. Companies often set interim 2030 targets and long-term 2050 net-zero goals to demonstrate measurable progress toward decarbonization.
