Codan

Codan, an Australian-headquartered machinery and equipment manufacturer, reported total emissions of approximately 58.9 million kg CO2e in 2025. This included about 456,000 kg CO2e from Scope 1, 1.26 million kg CO2e from Scope 2, and 57.17 million kg CO2e from Scope 3 emissions. Key contributors to Scope 3 emissions were purchased goods and services (approximately 33.7 million kg CO2e), use of sold products (about 10.8 million kg CO2e), and business travel (approximately 4.09 million kg CO2e).

In 2024, the company's total emissions were approximately 43.1 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.

Codan has initiated climate commitments to understand and reduce its emissions. In 2024, the company engaged external consultants to establish a baseline for its global operations' emissions, identify major emission sources, and assess reduction opportunities. This led to the finalisation of actions and timelines for emission reduction opportunities, alongside enhanced governance of climate-related issues. Codan is also progressively aligning with the recommendations of the Task Force on Climate-related Financial Disclosures (TCFD) for effective climate risk and opportunity management. The company has near-term net-zero targets for Scope 1 and Scope 2 emissions, with a target year of 2024, based on a 2023 baseline.