Swedbank

Swedbank, a financial intermediation services provider based in SE, reported total carbon emissions of approximately 10.25 billion kg CO2e in 2024. This includes Scope 1 emissions of 853,000 kg CO2e, market-based Scope 2 emissions of 3.417 million kg CO2e, and Scope 3 emissions, which primarily include investments at 10.249 billion kg CO2e and business travel at 3.968 million kg CO2e.

Looking at previous years, Swedbank's reported emissions show fluctuations. In 2023, total Scope 1 emissions were 692,000 kg CO2e, market-based Scope 2 emissions were 3.678 million kg CO2e, and Scope 3 business travel emissions were 4.4 million kg CO2e. In 2022, Scope 1 emissions were 622,000 kg CO2e, market-based Scope 2 emissions were 5.065 million kg CO2e, and Scope 3 business travel emissions were 3.224 million kg CO2e.

Swedbank is committed to ambitious climate action, aligning its efforts with the Paris Agreement. The company aims for net-zero emissions by no later than 2050. This overarching objective includes aligning its lending and investment portfolios with the 1.5°C target. For its own operations, Swedbank has set a near-term target to reduce its direct greenhouse gas emissions (Scope 1, Scope 2, and parts of Scope 3) by 60% by 2030, using 2019 as a baseline year. Swedbank Robur, the company's asset manager, also aims to align its aggregated Assets Under Management (AUM) with the Paris Agreement by 2025 and achieve net zero by 2040. Additionally, Swedbank has an ambition to increase its sustainable lending volumes by at least three times by 2027, compared to a 2022 baseline. Swedbank is also committed to the Science Based Targets initiative (SBTi) for net-zero.