Swedbank

Swedbank, a financial intermediation services company headquartered in SE, reported total carbon emissions of approximately 10.25 billion kg CO2e in 2024. This figure includes Scope 1 emissions of 853,000 kg CO2e, Scope 2 market-based emissions of 3,417,000 kg CO2e, and Scope 3 emissions of 10,253,427,000 kg CO2e, which primarily consist of investments (10,249,459,000 kg CO2e) and business travel (3,968,000 kg CO2e). In 2023, Swedbank's reported emissions included 692,000 kg CO2e for Scope 1, 3,678,000 kg CO2e for Scope 2 market-based emissions, and 4,400,000 kg CO2e for Scope 3 business travel. For 2022, the company reported 622,000 kg CO2e for Scope 1, 5,065,000 kg CO2e for Scope 2 market-based emissions, and 3,224,000 kg CO2e for Scope 3 business travel.

Swedbank has set several climate commitments and targets. The company aims to achieve net-zero emissions by no later than 2050 and align its lending and investment portfolios with the 1.5-degree target of the Paris Agreement. A specific near-term target for its own operations is to reduce direct greenhouse gas emissions (Scope 1, Scope 2, and parts of Scope 3) by 60 per cent by 2030, using 2019 as a baseline year. Additionally, Swedbank Robur, an entity within Swedbank, aims to align its aggregated Assets Under Management (AUM) with the Paris Agreement by 2025 and reach net-zero by 2040. Swedbank has also committed to increasing its sustainable lending volumes by at least three times by 2027, compared to a 2022 baseline. The company has a long-standing commitment to reduce its own greenhouse gas emissions by 60 per cent between 2010 and 2018, specifically targeting Scope 1 and Scope 2 emissions. Swedbank AB is committed to Science Based Targets initiative (SBTi) for net-zero.