Nordea Bank

Nordea Bank's reported carbon emissions

Nordea Bank, headquartered in Finland, reported substantial carbon emissions across Scopes 1, 2, and 3. For the year 2025, the bank's total emissions were approximately 19.8 billion kg CO2e. This figure is comprised of about 1 million kg CO2e for Scope 1, around 12.8 million kg CO2e for Scope 2 (market-based), and nearly 19.8 billion kg CO2e for Scope 3. In 2024, total emissions were approximately 19.8 billion kg CO2e, with Scope 1 emissions at about 1.8 million kg CO2e, Scope 2 at approximately 16.5 million kg CO2e (market-based), and Scope 3 at approximately 19.8 billion kg CO2e. Looking back, in 2023, total emissions were around 24.9 billion kg CO2e, with Scope 1 at about 1.1 million kg CO2e, Scope 2 at approximately 3.1 million kg CO2e (market-based), and Scope 3 at around 24.9 billion kg CO2e. In 2022, total emissions were approximately 18.2 million kg CO2e, with Scope 1 at about 1.3 million kg CO2e, Scope 2 at approximately 4.2 million kg CO2e, and Scope 3 at around 12.7 million kg CO2e. Nordea Bank has established ambitious climate commitments. The bank aims to reduce its Scope 1 and Scope 2 emissions to near zero by 2025. Furthermore, Nordea is committed to reducing its Scope 1 and Scope 2 emissions by 30% between 2020 and 2030. Beyond internal operations, Nordea Bank aims to reduce carbon emissions from its lending and investment portfolios by 40-50% by the end of 2030, compared to 2019 levels. More broadly, the bank has set a target to reduce carbon emissions from its internal operations by more than 50% by the end of 2030, relative to 2019, and to achieve a net positive carbon contribution. Nordea's long-term vision includes achieving net-zero emissions by 2050 at the latest across its entire value chain. Since 2019, the bank reports having already reduced its portfolio-wide financed emissions by 44%.