Storebrand

Storebrand's Climate Commitments & Emissions Overview (2025 Data)

Storebrand, a financial intermediation services company based in Norway, is actively working to reduce its carbon footprint and achieve ambitious climate goals. In 2025, the company reported total emissions of approximately 35.89 billion kg CO2e.

Detailed Emissions Breakdown (2025):

• Scope 1 Emissions: About 4,900 kg CO2e
• Scope 2 Emissions (Market-based): Approximately 32,800 kg CO2e
• Scope 2 Emissions (Location-based): About 107,400 kg CO2e
• Scope 3 Emissions: Roughly 35.65 billion kg CO2e.
  • Significant contributors to Scope 3 include investments, accounting for approximately 35.63 billion kg CO2e.
  • Business travel contributed around 950,000 kg CO2e.
  • Purchased goods and services were responsible for about 18.17 million kg CO2e.
  • Waste generated in operations contributed approximately 25,000 kg CO2e.

Historic Scope 1 & 2 Emissions Data:

Storebrand has also provided Scope 1 and 2 emissions data (total) for previous years, although specific breakdowns are not available for all:

• 2024: Approximately 150,000 kg CO2e
• 2023: About 160,000 kg CO2e
• 2022: Roughly 190,000 kg CO2e
• 2021: Around 200,000 kg CO2e
• 2020: Approximately 210,000 kg CO2e
• 2019: About 220,000 kg CO2e
• 2018: Roughly 1.44 million kg CO2e (including 201,000 kg CO2e for Scope 2)
• 2017: About 321,900 kg CO2e (including 1,900 kg CO2e for Scope 1 and 320,000 kg CO2e for Scope 2)

Climate Commitments & Targets:

Storebrand has set comprehensive climate commitments, with a focus on both operational emissions and the emissions within its investment portfolio and supply chain.

• Near-Term Absolute Reduction (Scopes 1 & 2): Storebrand ASA commits to reducing absolute Scope 1 and 2 greenhouse gas emissions by 52% by 2030, using 2018 as the base year.
• Near-Term Upstream Scope 3 (Investments): The company aims to reduce the carbon footprint of companies it invests in by 32% by 2025, relative to a 2018 baseline. This will be achieved by engaging with the 20 companies that account for the largest emissions in its investment portfolio.
• Near-Term Upstream and Downstream Scope 3 (Air Travel): Storebrand plans a 40% reduction in absolute Scope 3 emissions from air travel between 2019 and 2030, through reduced travel and biofuel purchasing.
• Supplier Climate Neutrality (Scope 3 Upstream): By 2025, Storebrand aims for all its suppliers to have set verifiable short- and medium-term emission reduction targets and to be climate neutral. By 2030, the goal is for the entire value chain of its deliveries to be climate neutral.
• Long-Term Net-Zero (Investments): Storebrand is committed to achieving net-zero greenhouse gas emissions from its investment portfolios by 2050 at the latest. Its portfolio targets currently cover 81% of its total investment and lending activities as of 2021.
• Long-Term Net-Zero (Own Operations): Storebrand's ambition is to reach net-zero emissions from its own operations by 2050.
• Supplier Engagement for Circularity (Scope 3 Downstream): By 2024, at least 80% of suppliers with an annual turnover above NOK 5 million are expected to commit to science-based targets or demonstrate contributions to Storebrand's circular economy strategy, including recycling, reuse, and repair.
• GHG Intensity Reduction (Listed Equities and Corporate Bonds): A 60% reduction in GHG intensity (Scope 1 and 2 emissions) from listed equities and corporate bonds is targeted, with a 2018 baseline.

Science Based Targets initiative (SBTi):

Storebrand ASA has set near-term Science Based Targets (SBTs) that are consistent with reductions required to limit warming to 1.5°C, with a target year of 2027 (or 2030, according to some records). The company is also committed to net-zero, with portfolio targets covering 81% of its total investment and lending activities as of 2021.