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Swedbank AB, commonly referred to as Swedbank, is a leading financial institution headquartered in Sweden (SE). Established in 1820, the bank has evolved to become a prominent player in the financial intermediation services sector, specifically excluding insurance and pension funding services. With a strong presence in the Nordic and Baltic regions, Swedbank offers a comprehensive range of services, including retail banking, corporate banking, and asset management.
The bank is renowned for its commitment to sustainability and digital innovation, providing unique solutions tailored to meet the diverse needs of its customers. Swedbank's market position is bolstered by its extensive customer base and a robust network of branches, making it a trusted partner in financial services. Over the years, Swedbank has achieved significant milestones, reinforcing its reputation as a reliable and forward-thinking financial institution.
61
DitchCarbon score
+24 vs industry average
Swedbank’s score of 61 is higher than 74% of the industry. This can give you a sense of how well the company is doing compared to its peers.
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Industry Intensity
Very Low
Financial Intermediation is among the least carbon-intensive industries
Industry performance
0.096
20182025
The Financial Intermediation industry has reduced its overall emissions by 33% since 2018
Emissions trajectory 2020 – 2027
20202021202220232024202520262027
Reported emissions
Scope 1
•••kg CO₂e
Scope 2
•••kg CO₂e
Scope 3
•••kg CO₂e
Total reported
•••kg CO₂e
Scope 3 accounts for ••• of total emissions.
Swedbank's reported carbon emissions
Swedbank's Carbon Emissions & Climate Commitments
In 2024, Swedbank, a financial intermediation services provider headquartered in Sweden, reported total carbon emissions of approximately 10.25 billion kg CO2e. This included Scope 1 emissions of 853,000 kg CO2e, Scope 2 (market-based) emissions of 3.42 million kg CO2e, and Scope 3 emissions, notably investments at 10.25 billion kg CO2e and business travel at 3.97 million kg CO2e.
Looking back, Swedbank's total emissions have fluctuated. In 2023, the bank reported Scope 1 emissions of 692,000 kg CO2e, Scope 2 (market-based) emissions of 3.68 million kg CO2e, and Scope 3 business travel emissions of 4.40 million kg CO2e. In 2022, Scope 1 emissions were 622,000 kg CO2e, Scope 2 (market-based) were 5.07 million kg CO2e, and Scope 3 business travel was 3.22 million kg CO2e.
Swedbank has set ambitious climate commitments:
- Net-Zero Target: Swedbank aims to achieve net-zero emissions by no later than 2050, aligning its lending and investment portfolios with the 1.5°C global warming target. Swedbank has a long-term net-zero commitment with the Science Based Targets initiative (SBTi).
- Operational Emissions Reduction: The bank targets a 60% reduction in its direct greenhouse gas emissions (covering Scope 1, Scope 2, and parts of Scope 3) by 2030, compared to a 2019 baseline.
- Swedbank Robur Commitments: Swedbank Robur, the bank's asset management arm, aims to align its aggregate fund capital with the Paris Agreement's 1.5°C target by 2025 and achieve net-zero by 2040.
- Sustainable Financing Growth: Swedbank plans to increase its sustainable lending volumes by at least three times by 2027, against a 2022 baseline.
Historical reduction targets include a goal to reduce own greenhouse gas emissions by 60% between 2010 and 2018, primarily through reduced travel and improved energy efficiency in offices.
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Swedbank’s Climate Goals (2030 & 2050)
2025
Near-zero scope 1 & 2
Target to achieve near-zero emissions for direct operations and purchased energy
On track94%
2030
62% reduction in total GHG
Vs 2019 baseline. Validated by SBTi. Includes full supply chain.
At risk48%
2040
50% reduction in Scope 3 intensity
Across purchased goods and services and logistics.
Behind target22%
Showing SBTi-validated targets only. Sign up or sign in to see all disclosed climate targets.
Scope 3 top emissions categories
2 of 15 categories disclosedSee all scope 3 categories
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Climate initiatives
Science Based Targets Initiative
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Active
Carbon Disclosure Project
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Active
The Climate Pledge
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Not active
UN Global Compact Climate Champions initiative
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Active
RE 100
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Not active
Climate Action 100
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Not active
Emissions comparison with industry peers
View similar organisationsCompanyCountryIndustryLast updatedScoreDetails
Swedbank2 months ago
61
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Frequently asked questions
Common questions about Swedbank’s sustainability data and climate commitments
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