Sparebanken Sor Sustainability Profile
Sparebanken Sør, a prominent financial institution based in Norway, has been serving its customers since its establishment in 1822. Headquartered in Kristiansand, the bank operates primarily in the southern regions of Norway, providing a range of banking services tailored to both personal and business clients. As a key player in the Norwegian banking industry, Sparebanken Sør offers unique products such as competitive mortgage solutions, savings accounts, and comprehensive investment services. The bank is renowned for its commitment to local communities and sustainable banking practices, which set it apart from competitors. With a strong market position, Sparebanken Sør has achieved notable milestones, including significant growth in customer base and assets under management, reinforcing its reputation as a trusted financial partner in the region.
DitchCarbon Score
How does Sparebanken Sor'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 Services Auxiliary to Financial Intermediation 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
Sparebanken Sor's score of 56 is higher than 73% of the industry. This can give you a sense of how well the company is doing compared to its peers.
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Sparebanken Sor's reported carbon emissions
In 2023, Sparebanken Sør reported total carbon emissions of approximately 321,200 kg CO2e. This figure includes 23,600 kg CO2e from Scope 1 emissions, 114,200 kg CO2e from Scope 2, and 183,300 kg CO2e from Scope 3 emissions. The bank's emissions have seen fluctuations over the years, with a total of 297,600 kg CO2e in 2022, 232,400 kg CO2e in 2021, and 273,000 kg CO2e in 2020. Sparebanken Sør's emissions data is cascaded from its parent company, Sparebanken Vest, reflecting a merged entity relationship. The bank has not set specific reduction targets through the Science Based Targets initiative (SBTi) or other climate pledges, indicating a potential area for future commitment. The bank's emissions profile highlights a significant reliance on Scope 2 emissions, primarily from electricity usage, which accounted for about 35% of total emissions in 2023. The bank's commitment to sustainability is evident, but further initiatives and targets could enhance its climate strategy.
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| 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | |
|---|---|---|---|---|---|---|---|
| Scope 1 | 332,000 | 000,000 | 00,000 | 00,000 | 00,000 | 00,000 | 00,000 |
| Scope 2 | 3,332,000 | 0,000,000 | 000,000 | 000,000 | 000,000 | 000,000 | 000,000 |
| Scope 3 | 1,463,000 | 0,000,000 | 000,000 | 00,000 | 00,000 | 000,000 | 000,000 |
How Carbon Intensive is Sparebanken Sor's Industry?
How Carbon Intensive is Sparebanken Sor's Location?
Sparebanken Sor's Climate Goals (2030 & 2050)
Climate goals typically focus on 2030 interim targets and 2050 net-zero commitments, aligned with global frameworks like the Paris Agreement and Science Based Targets initiative (SBTi) to ensure alignment with global climate goals.
Sparebanken Sor has not publicly committed to specific 2030 or 2050 climate goals through the major frameworks we track. Companies often set interim 2030 targets and long-term 2050 net-zero goals to demonstrate measurable progress toward decarbonization.
