Norges Bank Sustainability Profile
Norges Bank, the central bank of Norway, is headquartered in Oslo, NO, and plays a pivotal role in the country's financial landscape. Established in 1816, it has a rich history marked by significant milestones, including the management of Norway's monetary policy and foreign exchange reserves. Operating primarily within the banking and finance industry, Norges Bank is renowned for its core services, which include the issuance of currency, management of the Government Pension Fund Global, and oversight of the national payment system. Its unique approach to sustainable investment sets it apart in the global market. With a strong market position, Norges Bank is recognised for its commitment to economic stability and transparency, making it a key player in both national and international finance.
DitchCarbon Score
How does Norges Bank'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
Norges Bank's score of 45 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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Norges Bank's reported carbon emissions
In 2024, Norges Bank reported total carbon emissions of approximately 11,068,000 kg CO2e. This figure includes 19,000 kg CO2e from Scope 1 emissions, 712,000 kg CO2e from Scope 2, and a significant 10,337,000 kg CO2e from Scope 3 emissions. In comparison, the previous year, 2023, saw total emissions of about 8,960,000 kg CO2e, with Scope 1 at 28,000 kg CO2e, Scope 2 at 717,000 kg CO2e, and Scope 3 at 8,215,000 kg CO2e. Norges Bank has not set specific reduction targets or initiatives as part of its climate commitments, and there are no emissions reduction targets reported through the Science Based Targets initiative (SBTi). The bank's emissions data is not cascaded from any parent organization, indicating that it operates independently in its reporting and climate strategy. The bank's emissions intensity for its equity portfolio is reported at 83,000 kg CO2e per million USD in revenue, while the fixed income portfolio has an intensity of 89,000 kg CO2e per million USD in revenue. This data reflects Norges Bank's ongoing commitment to transparency in its carbon footprint and its efforts to monitor and report on its emissions across all scopes.
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| 2019 | 2020 | 2021 | 2023 | 2024 | |
|---|---|---|---|---|---|
| Scope 1 | 21,000 | 00,000 | 00,000 | 00,000 | 00,000 |
| Scope 2 | 749,000 | 000,000 | 000,000 | 000,000 | 000,000 |
| Scope 3 | 8,896,000 | 000,000 | 000,000 | 0,000,000 | 00,000,000 |
How Carbon Intensive is Norges Bank's Industry?
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Norges Bank'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.
Norges Bank 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.
