Folksam
Folksam, officially known as Folksam Group, is a prominent insurance and financial services provider headquartered in Stockholm, Sweden. Established in 1908, the company has evolved into a leading player in the Nordic insurance market, with a strong presence across Sweden and Finland. Specialising in life insurance, property insurance, and pension savings, Folksam is renowned for its commitment to sustainability and customer-centric solutions. The company’s unique approach combines comprehensive coverage with a focus on ethical investments, setting it apart in a competitive landscape. With a robust market position, Folksam has achieved significant milestones, including being one of the largest mutual insurance companies in Sweden. Its dedication to social responsibility and innovation continues to drive its success in the insurance industry.
DitchCarbon Score
How does Folksam's carbon action stack up? DitchCarbon scores companies based on their carbon action and commitment to reducing emissions. Read about our methodology to learn more.
Industry Average
Mean score of companies in the Insurance Services industry. Comparing a company's score to the industry average can give you a sense of how well the company is doing compared to its peers.
Industry Benchmark
Folksam's score of 35 is higher than 86% of the industry. This can give you a sense of how well the company is doing compared to its peers.
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Folksam's reported carbon emissions
In 2023, Folksam reported total carbon emissions of approximately 740,000,000 kg CO2e, with significant contributions from Scope 3 emissions, which accounted for about 99.7% of the total. Specifically, Scope 1 emissions were about 233,000 kg CO2e, including fugitive emissions of approximately 67,000 kg CO2e, while Scope 2 emissions totalled around 249,000 kg CO2e. Comparatively, in 2022, Folksam's total emissions were approximately 723,000,000 kg CO2e, with Scope 1 emissions at about 230,000 kg CO2e and Scope 2 emissions at around 232,000 kg CO2e. This indicates a slight increase in Scope 3 emissions year-on-year. Despite the substantial emissions figures, Folksam has not disclosed specific reduction targets or initiatives as part of their climate commitments. The absence of documented reduction strategies suggests a need for further clarity on their long-term climate action plans. Overall, Folksam's emissions profile highlights the significant impact of Scope 3 emissions, underscoring the importance of comprehensive strategies to address carbon footprints across all scopes.
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| 2017 | 2018 | 2020 | 2021 | 2022 | 2023 | |
|---|---|---|---|---|---|---|
| Scope 1 | 539,000 | 000,000 | 000,000 | 000,000 | 000,000 | 000,000 |
| Scope 2 | 544,000 | 000,000 | 000,000 | 000,000 | 000,000 | 000,000 |
| Scope 3 | 1,050,700 | 000,000,000 | 00,000 | 000,000,000 | 000,000,000 | 000,000,000 |
Industry emissions intensity
Location emissions intensity
Reduction initiatives & disclosure networks
Companies disclose and commit to reducing emissions to show they are serious about reducing emissions impact over time. They can also help a company track its progress over time.
Folksam is not participating in any of the initiatives that we track. This may change over time as the company engages with new initiatives or updates its commitments. DitchCarbon will update this information as it becomes available.
