OP Financial Group Sustainability Profile
OP Financial Group, headquartered in Finland (FI), is a leading cooperative financial services provider established in 1902. With a strong presence across the Nordic region, OP Financial Group operates primarily in the banking, insurance, and asset management sectors. The organisation is renowned for its customer-centric approach, offering a diverse range of products including personal and business banking services, life and non-life insurance, as well as investment solutions. What sets OP Financial Group apart is its commitment to cooperative principles, ensuring that profits are reinvested for the benefit of its members. Over the years, the group has achieved significant milestones, solidifying its position as a trusted financial partner in Finland. With a focus on innovation and sustainability, OP Financial Group continues to lead the market, providing tailored financial solutions that meet the evolving needs of its customers.
DitchCarbon Score
How does OP Financial Group'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
OP Financial Group's score of 54 is higher than 72% of the industry. This can give you a sense of how well the company is doing compared to its peers.
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OP Financial Group's reported carbon emissions
In 2024, OP Financial Group reported total carbon emissions of approximately 4,667,928,000 kg CO2e. This figure includes 339,000 kg CO2e from Scope 1 emissions, 23,000 kg CO2e from Scope 2 (market-based), and a significant 4,667,586,000 kg CO2e from Scope 3 emissions, which encompasses investments, business travel, employee commute, and purchased goods and services. In 2023, the group's emissions were lower, with Scope 1 emissions at 282,000 kg CO2e and Scope 2 emissions at 7,156,000 kg CO2e. Notably, OP Financial Group has not set specific reduction targets or climate pledges, indicating a potential area for future commitment. The company has disclosed emissions data across all three scopes (1, 2, and 3) for the years 2022 to 2024, demonstrating transparency in its reporting practices. However, there are no documented reduction initiatives or targets currently in place, which may limit its ability to effectively address climate change impacts. Overall, OP Financial Group's emissions profile highlights the significant contribution of Scope 3 emissions, particularly from investments, which is a common trend in the financial services sector. The absence of reduction targets suggests a need for enhanced climate strategies moving forward.
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| 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | |
|---|---|---|---|---|---|---|---|---|
| Scope 1 | 48,000 | 00,000 | 00,000 | 00,000 | 00,000 | 000,000 | 000,000 | 000,000 |
| Scope 2 | 20,918,000 | 00,000,000 | 00,000,000 | 00,000,000 | 00,000,000 | 0,000,000 | 0,000,000 | 00,000 |
| Scope 3 | 7,186,000 | 0,000,000 | 0,000,000 | 000,000,000 | 000,000,000 | 000,000,000 | - | 0,000,000,000 |
How Carbon Intensive is OP Financial Group's Industry?
How Carbon Intensive is OP Financial Group's Location?
OP Financial Group's Scope 3 Categories Breakdown
OP Financial Group's Scope 3 emissions, which increased significantly last year and increased significantly since 2017, demonstrating supply chain emissions tracking. Nearly all of their carbon footprint comes from suppliers and value chain emissions, representing nearly all emissions under the GHG Protocol, with "Investments" being the largest emissions source at 93% of Scope 3 emissions.
Top Scope 3 Categories
OP Financial Group'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.
OP Financial Group 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.
