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 57% 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 6,056,000 kg CO2e. This figure includes 25,000 kg CO2e from Scope 1 emissions, primarily from mobile combustion, and 649,000 kg CO2e from Scope 2 emissions, predominantly from purchased electricity (646,000 kg CO2e) and purchased heat (3,000 kg CO2e). The majority of their emissions, about 5,382,000 kg CO2e, fall under Scope 3, which encompasses business travel (156,000 kg CO2e), purchased goods and services (approximately 25,468,783,000 kg CO2e), waste generated in operations (40,000 kg CO2e), and fuel and energy-related activities (approximately 18,601,752,000 kg CO2e). Norges Bank has set ambitious climate commitments, aiming for net zero emissions by 2050 for both Scope 1 and Scope 2 emissions. This long-term target was established in 2023, reflecting their commitment to reducing their carbon footprint significantly over the coming decades. The organisation's emissions data is not cascaded from any parent company, indicating that these figures are independently reported. Overall, Norges Bank Investment Management is actively working towards enhancing its sustainability practices and reducing its carbon emissions in alignment with global climate goals.
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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?
How Carbon Intensive is Norges Bank Investment Management's Location?
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.
Top Scope 3 Categories
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.
