Swedbank

Swedbank's reported carbon emissions

Swedbank, headquartered in Sweden and operating within financial intermediation services, has established several climate commitments and reported its carbon emissions. For the year 2024, Swedbank reported total emissions of approximately 10.25 billion kg CO2e. This figure includes Scope 1 emissions of about 853,000 kg CO2e and Scope 2 market-based emissions of approximately 3.42 million kg CO2e. Scope 3 emissions, predominantly from investments, amounted to about 10.25 billion kg CO2e, with business travel contributing approximately 3.97 million kg CO2e. Looking at previous years, Swedbank's total emissions were approximately 9.20 billion kg CO2e in 2021, with Scope 1 at about 466,000 kg CO2e, Scope 2 market-based at approximately 4.79 million kg CO2e, and Scope 3 at approximately 3.95 billion kg CO2e. In 2020, total emissions were approximately 11.65 billion kg CO2e, comprising Scope 1 of about 632,000 kg CO2e, Scope 2 at approximately 5.33 million kg CO2e, and Scope 3 at approximately 5.68 billion kg CO2e. In 2018, the total emissions were approximately 27.0 billion kg CO2e, with Scope 1 at approximately 1.02 million kg CO2e, Scope 2 at approximately 6.01 million kg CO2e, and Scope 3 at approximately 19.95 billion kg CO2e. In 2017, Scope 1 emissions were approximately 780,000 kg CO2e, Scope 2 was about 7.77 million kg CO2e, and Scope 3 was approximately 20.79 billion kg CO2e. For 2016, Scope 1 emissions were approximately 881,000 kg CO2e, Scope 2 was about 16.58 million kg CO2e, and Scope 3 was approximately 19.89 billion kg CO2e. In 2015, total emissions were approximately 35.44 billion kg CO2e, including Scope 1 of about 989,000 kg CO2e, Scope 2 of approximately 19.20 million kg CO2e, and Scope 3 of approximately 15.26 billion kg CO2e. For 2014, total emissions were approximately 41.72 billion kg CO2e, with Scope 1 at about 2.50 million kg CO2e, Scope 2 at approximately 21.99 million kg CO2e, and Scope 3 at approximately 17.24 billion kg CO2e. Swedbank has set ambitious climate targets. By 2030, the bank aims to reduce its direct greenhouse gas emissions (Scope 1, 2, and parts of Scope 3) by 60% compared to a 2019 baseline. Furthermore, Swedbank's overarching objective is to achieve net-zero emissions by 2050 and align its lending and investment portfolios with the 1.5-degree Paris Agreement target. Swedbank Robur, a part of Swedbank, has a target to reach net zero by 2040. The bank also aims to increase its sustainable lending volumes by at least three times by 2027, compared to a 2022 baseline.