Norges Bank Investment Management Sustainability Profile
Norges Bank Investment Management (NBIM), a prominent entity within the financial sector, is headquartered in Oslo, Norway. Established in 1998, NBIM is responsible for managing the Government Pension Fund Global, one of the largest sovereign wealth funds in the world. The organisation operates primarily in Europe, North America, and Asia, focusing on investment management across various asset classes, including equities, fixed income, and real estate. NBIM's unique approach combines a long-term investment strategy with a commitment to responsible investment practices, setting it apart in the industry. With a strong emphasis on sustainability and ethical governance, the fund has achieved notable milestones, including significant returns that contribute to Norway's wealth. As a leader in the sovereign wealth fund space, Norges Bank Investment Management continues to influence global investment trends while prioritising financial stability and growth.
DitchCarbon Score
How does Norges Bank Investment Management'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 Investment Management's score of 36 is higher than 56% 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 Investment Management's reported carbon emissions
In 2022, Norges Bank Investment Management reported total carbon emissions of approximately 87.4 million kg CO2e. This figure includes Scope 1 emissions of about 25,000 kg CO2e, Scope 2 emissions of approximately 649,000 kg CO2e, and significant Scope 3 emissions totalling about 5.4 million kg CO2e. The Scope 3 emissions are primarily driven by purchased goods and services, which account for a substantial portion of their carbon footprint. Norges Bank has set ambitious climate commitments, aiming for net zero emissions across both Scope 1 and Scope 2 by 2050. This long-term target reflects their commitment to sustainability and aligns with global climate goals. The initiative is part of a broader strategy to mitigate climate impact and enhance responsible investment practices. The emissions data for 2021 is not available, while the 2020 emissions were reported at approximately 2.7 million kg CO2e, primarily from Scope 2 sources. The 2019 emissions were about 4.3 million kg CO2e, also mainly from Scope 2. Norges Bank Investment Management's climate strategy is not cascaded from any parent organization, indicating that their emissions data and commitments are independently reported.
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| 2019 | 2020 | 2022 | |
|---|---|---|---|
| Scope 1 | - | - | 00,000 |
| Scope 2 | 1,464,000 | 0,000,000 | 000,000 |
| Scope 3 | - | - | 0,000,000 |
How Carbon Intensive is Norges Bank Investment Management's Industry?
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Norges Bank Investment Management's Scope 3 Categories Breakdown
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 "Purchased Goods and Services" being the largest emissions source at 473222% of Scope 3 emissions.
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Norges Bank Investment Management'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 Investment Management 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.
