Sparebanken Vest

Sparebanken Vest's reported carbon emissions

Sparebanken Vest, headquartered in Norway and operating in insurance and pension funding services, reported a total of approximately 1.8 million kg CO2e in emissions for 2024. This total comprises approximately 10.5 thousand kg CO2e from Scope 1 emissions and approximately 125.4 thousand kg CO2e from Scope 2 emissions. Scope 3 emissions for 2024 were approximately 108 thousand kg CO2e. In 2023, the bank's total emissions were approximately 10.7 million kg CO2e, with Scope 1 at approximately 853 thousand kg CO2e, Scope 2 at approximately 5.4 million kg CO2e (market-based), and Scope 3 at approximately 4.4 million kg CO2e. For 2022, total emissions were approximately 7.1 million kg CO2e, with Scope 1 at approximately 1.4 million kg CO2e, Scope 2 at approximately 632 thousand kg CO2e (market-based), and Scope 3 at approximately 5.2 million kg CO2e. In 2020, emissions for Scope 1 and 2 combined, on a location-based basis, were approximately 80.2 thousand kg CO2e. Sparebanken Vest has established several climate commitments. The bank previously set a target to reduce its own climate footprint by 50% by 2025, a goal that was achieved in 2020. More recently, the bank aims to reduce its Scope 1 and 2 emissions by 10% by 2030, following the Science Based Targets initiative's (SBTi) decarbonisation trajectory. Additionally, there is a commitment to a 55% reduction in the bank's own climate emissions between 2017 and 2030 for Scope 1 and Scope 2. Looking further ahead, Sparebanken Vest has a net-zero emissions target by 2050. For portfolio carbon intensity, specifically in tonnes of CO2e per tonne of fish, a 42% reduction is targeted by 2030. The bank is also committed to net-zero emissions by 2040, aligning with the Science Based Targets initiative's principles for residual emissions.