Spar Nord

Spar Nord, headquartered in Denmark and operating in the insurance and pension funding services industry, reported total emissions of approximately 787.9 million kg CO2e in 2024. This figure includes about 194,000 kg CO2e from Scope 1 emissions, 403,000 kg CO2e from market-based Scope 2 emissions, and roughly 787.3 million kg CO2e from Scope 3 emissions. A significant portion of Scope 3 emissions, about 762.8 million kg CO2e, came from investments.

Looking back, Spar Nord's total emissions in 2023 were approximately 962.8 million kg CO2e, with Scope 1 at 222,000 kg CO2e, market-based Scope 2 at 393,000 kg CO2e, and Scope 3 at around 962.2 million kg CO2e. In 2022, total emissions stood at about 599.5 million kg CO2e, comprising 256,000 kg CO2e in Scope 1, 422,000 kg CO2e in market-based Scope 2, and roughly 598.8 million kg CO2e in Scope 3. For 2021, the total emissions were approximately 716.3 million kg CO2e, with Scope 1 at 213,000 kg CO2e, market-based Scope 2 at 468,000 kg CO2e, and Scope 3 at about 715.6 million kg CO2e. In 2020, Spar Nord reported Scope 1 emissions of 123,000 kg CO2e and market-based Scope 2 emissions of 1.1 million kg CO2e, but Scope 3 data for that year is not available.

Spar Nord has set a long-term climate ambition to achieve net-zero emissions by 2050 across all scopes, aligning with the Paris Agreement. In the near term, the bank aims to reduce its Scope 1 and Scope 2 greenhouse gas emissions by 30% by 2025, using a 2021 baseline of 681,000 kg CO2e. This reduction target is specifically for Scope 1 and Scope 2 emissions.

Emissions data for Spar Nord is sourced from Spar Nord Bank A/S. However, it's noted that SBTi targets are cascaded from Nykredit Bank A/S through a corporate family relationship.