Spar Nord

Spar Nord's reported carbon emissions

Spar Nord, headquartered in DK, has set ambitious climate goals, aiming for net-zero emissions by 2050 in alignment with the Paris Agreement's target to limit global warming to 2°C. To support this long-term vision, the bank has established a near-term objective to reduce its Scope 1 and Scope 2 greenhouse gas emissions by 30% by 2025, using 2021 as the baseline year. In 2021, their Scope 1 and 2 emissions totalled approximately 681 tonnes of CO2e. For the most recent reporting year, 2024, Spar Nord reported total emissions of approximately 787,948,000 kg CO2e. This includes Scope 1 emissions of approximately 194,000 kg CO2e and Scope 2 emissions, which, on a market-based approach, were approximately 403,000 kg CO2e. Scope 3 emissions were significantly higher, totalling approximately 787,351,000 kg CO2e, with the largest contributions from investments (approximately 762,814,000 kg CO2e) and purchased goods and services (approximately 19,622,000 kg CO2e). In the preceding year, 2023, total emissions amounted to approximately 962,854,000 kg CO2e. Scope 1 emissions were approximately 222,000 kg CO2e, and Scope 2 emissions were approximately 393,000 kg CO2e (market-based). Scope 3 emissions were approximately 962,239,000 kg CO2e, with investments accounting for approximately 940,173,000 kg CO2e. For 2022, Spar Nord's total emissions were approximately 599,543,000 kg CO2e, comprising Scope 1 emissions of approximately 256,000 kg CO2e and Scope 2 emissions of approximately 422,000 kg CO2e (market-based). Scope 3 emissions for this year were approximately 598,866,000 kg CO2e, with a significant portion from purchased goods and services (approximately 16,562,000 kg CO2e). In 2021, total emissions were approximately 716,359,000 kg CO2e. Scope 1 emissions stood at approximately 213,000 kg CO2e, and Scope 2 emissions were approximately 468,000 kg CO2e (market-based). Scope 3 emissions were approximately 715,678,000 kg CO2e, predominantly from investments (approximately 576,906,000 kg CO2e). It is important to note that Spar Nord's emissions data is inherited as a current subsidiary from Spar Nord Bank A/S. Their Scope 1 and 2 reduction targets are cascaded from Nykredit Realkredit A/S, who is the source organization for these initiatives at cascade level 1.