Codan

Codan, an Australian-headquartered machinery and equipment company, reported total greenhouse gas emissions of approximately 58.88 million kg CO2e in 2025. This includes about 456,000 kg CO2e from Scope 1 emissions, 1.26 million kg CO2e from Scope 2 emissions, and approximately 57.17 million kg CO2e from Scope 3 emissions. The largest contributors to Scope 3 emissions in 2025 were purchased goods and services (approximately 33.70 million kg CO2e) and use of sold products (about 10.81 million kg CO2e).

In 2024, Codan's total emissions were approximately 43.09 million kg CO2e, comprising about 1.49 million kg CO2e from Scope 1, 1.04 million kg CO2e from Scope 2, and 40.56 million kg CO2e from Scope 3.

For 2023, the company reported total emissions of approximately 52.98 million kg CO2e, with Scope 1 emissions around 1.43 million kg CO2e, Scope 2 emissions about 948,000 kg CO2e, and Scope 3 emissions at approximately 50.60 million kg CO2e.

Looking further back, in 2022, Codan's combined Scope 1 and 2 emissions were approximately 1.10 million kg CO2e. In 2021, these combined emissions stood at about 623,000 kg CO2e.

Codan has initiated near-term net-zero commitments for both Scope 1 and Scope 2 emissions, with a target year of 2024 and a timeframe between 2023 and 2025. These commitments involve engaging external consultants to calculate emissions, establish a baseline, identify significant emission sources, and assess reduction opportunities. The company has also developed action plans and timelines for these reductions and is progressively aligning with TCFD recommendations for climate-related risk management.