Sparebanken Vest
Sparebanken Vest, a prominent Norwegian financial institution, is headquartered in Bergen, Norway. Established in 1823, it has evolved into a key player in the banking sector, primarily serving the western regions of Norway. The bank offers a comprehensive range of services, including personal banking, corporate financing, and investment solutions, distinguished by its commitment to customer-centric service and local expertise. With a strong focus on sustainability and community engagement, Sparebanken Vest has achieved notable milestones, including recognition for its innovative digital banking solutions. As a leading regional bank, it holds a significant market position, catering to both individual and business clients while prioritising responsible banking practices.
DitchCarbon Score
How does Sparebanken Vest'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 Insurance Services 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
Sparebanken Vest's score of 54 is higher than 76% of the industry. This can give you a sense of how well the company is doing compared to its peers.
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Sparebanken Vest's reported carbon emissions
In 2023, Sparebanken Vest reported total carbon emissions of approximately 1,107,974,000 kg CO2e. This figure includes 853,000 kg CO2e from Scope 1 emissions, 5,368,000 kg CO2e from Scope 2 emissions, and 10,194,000 kg CO2e from Scope 3 emissions, specifically related to purchased goods and services. Comparatively, in 2022, the bank's total emissions were about 2,157,121,000 kg CO2e, with Scope 1 emissions at 1,374,000 kg CO2e, Scope 2 emissions at 632,000 kg CO2e, and Scope 3 emissions remaining consistent at 10,194,000 kg CO2e. This indicates a significant reduction in total emissions year-on-year. Sparebanken Vest has set ambitious climate commitments, including a target to reduce its own climate footprint by 50% by 2025, a goal that was already achieved in 2020. Additionally, the bank aims to reduce its Scope 1 and 2 emissions in line with the Science Based Targets initiative (SBTi) decarbonisation trajectory, targeting a 10% reduction by 2030. For Scope 3 emissions, the bank has committed to reducing the carbon intensity of its portfolio by 42% by 2030. Overall, Sparebanken Vest demonstrates a proactive approach to climate action, with a focus on both absolute and intensity-based reduction targets across its emissions scopes.
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| 2020 | 2022 | 2023 | |
|---|---|---|---|
| Scope 1 | - | 0,000,000 | 000,000 |
| Scope 2 | - | 000,000 | 0,000,000 |
| Scope 3 | - | 00,000,000 | 00,000,000 |
Industry emissions intensity
Location emissions intensity
Reduction initiatives & disclosure networks
Companies disclose and commit to reducing emissions to show they are serious about reducing emissions impact over time. They can also help a company track its progress over time.
Sparebanken Vest is participating in some of the initiatives that we track. This may change over time as the company engages with new initiatives or updates its commitments. DitchCarbon will update this information as it becomes available.
