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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.
64
DitchCarbon score
+27 vs industry average
Swedbank’s score of 64 is higher than 77% 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, headquartered in Sweden, reported total carbon emissions of approximately 10.25 billion kg CO2e in 2024. This includes Scope 1 emissions of 853,000 kg CO2e, Scope 2 market-based emissions of 3.417 million kg CO2e, and significant Scope 3 emissions. Key contributors to Scope 3 emissions were investments at 8.841 billion kg CO2e, purchased goods and services at 811.307 million kg CO2e, and business travel at 3.968 million kg CO2e.
Looking back, Swedbank's emissions have fluctuated. In 2023, Scope 1 emissions were 692,000 kg CO2e, Scope 2 market-based emissions were 3.678 million kg CO2e, and Scope 3 business travel was 4.4 million kg CO2e. In 2022, Scope 1 emissions were 622,000 kg CO2e, Scope 2 market-based emissions were 5.065 million kg CO2e, and Scope 3 business travel was 3.224 million kg CO2e. In 2021, total emissions were 9.201 million kg CO2e, with Scope 1 at 466,000 kg CO2e, Scope 2 market-based at 4.787 million kg CO2e, and total Scope 3 at 3.948 million kg CO2e. In 2020, total emissions were 11.646 million kg CO2e, comprising Scope 1 at 632,000 kg CO2e, Scope 2 market-based at 5.331 million kg CO2e, and total Scope 3 at 5.683 million kg CO2e.
Swedbank is committed to various climate goals. The financial institution aims to achieve net-zero emissions by no later than 2050, aligning its lending and investment portfolios with the 1.5°C target of the Paris Agreement. For its own operations, Swedbank targets a 60% reduction in direct greenhouse gas emissions (covering Scope 1, Scope 2, and parts of Scope 3) by 2030, compared to a 2019 baseline. Furthermore, Swedbank Robur, the asset management arm, targets aligning its aggregate fund capital with the Paris Agreement's 1.5°C goal by 2025 and achieving net-zero by 2040. Historically, Swedbank also had a goal to reduce its own greenhouse gas emissions by 60% between 2010 and 2018 (Scope 1 and Scope 2), primarily through travel reduction and improved energy efficiency in its offices. Swedbank also plans to increase its sustainable lending volumes by at least three times by 2027, compared to a 2022 baseline.
Swedbank AB has committed to Science Based Targets initiative (SBTi) for near-term and net-zero targets as a Financial Institution.
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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
3 of 15 categories disclosedSee all scope 3 categories
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Climate initiatives
Science Based Targets Initiative
See details
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
Swedbank3 months ago
64
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Frequently asked questions
Common questions about Swedbank’s sustainability data and climate commitments
In 2024, Swedbank reported total carbon emissions of approximately 10.25 billion kg CO2e. The largest portion of these emissions, around 8.84 billion kg CO2e, originates from investments within Scope 3. Scope 3 also includes significant contributions from purchased goods and services, totaling roughly 811 million kg CO2e. Scope 1 emissions were approximately 853,000 kg CO2e, and Scope 2 market-based emissions were about 3.4 million kg CO2e. This breakdown highlights the substantial impact of Swedbank's investment activities on its overall carbon footprint.
Data year: 2024
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