Sparebanken Vest Sustainability Profile
Sparebanken Vest, a prominent Norwegian financial institution, is headquartered in Bergen, Norway. Established in 1823, it has evolved into a key player in the banking sector, primarily serving the western regions of Norway. The bank offers a comprehensive range of services, including personal banking, corporate financing, and investment solutions, distinguished by its commitment to customer-centric service and local expertise. With a strong focus on sustainability and community engagement, Sparebanken Vest has achieved notable milestones, including recognition for its innovative digital banking solutions. As a leading regional bank, it holds a significant market position, catering to both individual and business clients while prioritising responsible banking practices.
DitchCarbon Score
How does Sparebanken Vest'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
Sparebanken Vest's score of 80 is higher than 89% 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 Vest's reported carbon emissions
In 2024, Sparebanken Vest reported total carbon emissions of approximately 179,300 kg CO2e, comprising 10,500 kg CO2e from Scope 1, 125,400 kg CO2e from Scope 2, and 108,000 kg CO2e from Scope 3 emissions. This marks a significant reduction from 2023, where emissions were approximately 5,368,000 kg CO2e in Scope 2 and 4,362,000 kg CO2e in Scope 3, alongside 853,000 kg CO2e in Scope 1. The bank has set ambitious climate commitments, including a target to reduce its own climate footprint by 50% by 2025, a goal that was reportedly achieved in 2020. Additionally, Sparebanken Vest aims for a 55% reduction in its climate emissions from 2017 levels by 2030. The bank is also committed to achieving net-zero emissions by 2050. Sparebanken Vest's reduction initiatives include a near-term target to reduce Scope 1 and 2 emissions according to the Science Based Targets initiative (SBTi) decarbonisation trajectory, aiming for a 10% reduction by 2030. Furthermore, the bank has committed to reducing the carbon intensity of its portfolio by 42% by 2030. Overall, Sparebanken Vest demonstrates a proactive approach to managing its carbon emissions and addressing climate change, aligning with industry standards and expectations.
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| 2018 | 2019 | 2020 | 2022 | 2023 | 2024 | |
|---|---|---|---|---|---|---|
| Scope 1 | 62,500 | 00,000 | - | 0,000,000 | 000,000 | 00,000 |
| Scope 2 | 291,900 | 000,000 | - | 000,000 | 000,000 | 000,000 |
| Scope 3 | 581,600 | 000,000 | - | 0,000,000 | 0,000,000 | 000,000 |
How Carbon Intensive is Sparebanken Vest's Industry?
How Carbon Intensive is Sparebanken Vest's Location?
Sparebanken Vest'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 Vest has established climate goals through participation in recognized frameworks and target-setting initiatives. Companies often set interim 2030 targets and long-term 2050 net-zero goals to demonstrate measurable progress toward decarbonization.
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Frequently Asked Questions
Common questions about Sparebanken Vest's sustainability data and climate commitments