Spar Nord

Spar Nord, a Danish insurance and pension funding services provider, reported total carbon emissions of approximately 787,948,000 kg CO2e in 2024. This figure includes Scope 1 emissions of 194,000 kg CO2e, market-based Scope 2 emissions of 403,000 kg CO2e, and Scope 3 emissions of approximately 787,351,000 kg CO2e. A significant portion of Spar Nord's Scope 3 emissions in 2024, approximately 762,814,000 kg CO2e, stemmed from investments.

Looking at previous years, Spar Nord's total emissions were approximately 962,854,000 kg CO2e in 2023, comprising Scope 1 emissions of 222,000 kg CO2e, market-based Scope 2 emissions of 393,000 kg CO2e, and Scope 3 emissions of approximately 962,239,000 kg CO2e. In 2022, total emissions were around 599,543,000 kg CO2e, with Scope 1 at 256,000 kg CO2e, market-based Scope 2 at 422,000 kg CO2e, and Scope 3 at approximately 598,866,000 kg CO2e. The 2021 total emissions stood at approximately 716,359,000 kg CO2e, including Scope 1 emissions of 213,000 kg CO2e, market-based Scope 2 emissions of 468,000 kg CO2e, and Scope 3 emissions of approximately 715,678,000 kg CO2e. In 2020, Spar Nord reported Scope 1 emissions of 123,000 kg CO2e and market-based Scope 2 emissions of 1,102,000 kg CO2e; Scope 3 data for 2020 was not fully disclosed.

Spar Nord has committed to a long-term climate ambition of reaching net zero by 2050 across all scopes, aligning with the Paris Agreement's goal of limiting global warming to 2°C. Additionally, the bank has set a near-term target to reduce its Scope 1 and Scope 2 greenhouse gas emissions by 30% by 2025, using a 2021 baseline of 681 tonnes CO2e. This data is cascaded from Spar Nord Bank A/S.