Nordea Bank

Nordea Bank, headquartered in Finland and operating in Financial intermediation services, except insurance and pension funding services, has reported its latest carbon emissions data. In 2025, the bank's total carbon emissions are approximately 19.79 billion kg CO2e. This includes about 1.03 million kg CO2e from Scope 1 emissions, 12.83 million kg CO2e from market-based Scope 2 emissions, and 19.78 billion kg CO2e from Scope 3 emissions.

Looking back, Nordea Bank's total emissions were approximately 19.85 billion kg CO2e in 2024, comprising 1.81 million kg CO2e (Scope 1), 16.54 million kg CO2e (market-based Scope 2), and 19.83 billion kg CO2e (Scope 3). In 2023, the total emissions were not specified, but Scope 1 emissions were approximately 1.14 million kg CO2e, market-based Scope 2 emissions were about 3.12 million kg CO2e, and Scope 3 emissions were approximately 24.89 billion kg CO2e. This Scope 3 figure notably included approximately 24.87 billion kg CO2e from investments.

Nordea Bank has set ambitious climate commitments. The bank aims to achieve net-zero emissions by the end of 2050 at the latest. For its internal operations, Nordea Bank has a near-term target to reduce carbon emissions by more than 50% by the end of 2030, compared to 2019 levels. This commitment extends to achieving a net positive carbon contribution through offsetting.

Specific targets include reducing Scope 1 and Scope 2 emissions by 30% from 2020 to 2030. Furthermore, Nordea Bank aims to reduce its Scope 1 and Scope 2 emissions to "near zero" by 2025. The bank also targets a 40-50% reduction in carbon emissions across its lending and investment portfolios by the end of 2030, compared to 2019. In terms of financed emissions, Nordea Bank states it has reduced portfolio-wide financed emissions by 44% since 2019, aligning with a 1.5°C pathway, and has significantly reduced lending to upstream oil and gas by over 99% in the same period.