Swedbank Sustainability Profile
Swedbank AB, commonly referred to as Swedbank, is a leading financial institution headquartered in Sweden (SE). Established in 1820, the bank has evolved into a prominent player in the Nordic and Baltic regions, providing a wide range of banking services to millions of customers. Operating primarily in Sweden, Estonia, Latvia, and Lithuania, Swedbank focuses on retail banking, corporate banking, and asset management. Its core offerings include personal and business accounts, loans, mortgages, and investment services, distinguished by a strong commitment to digital innovation and customer-centric solutions. With a robust market position, Swedbank has achieved notable milestones, including a significant presence in sustainable finance, reflecting its dedication to responsible banking practices. The bank continues to be recognised for its stability and customer trust, making it a key player in the European banking landscape.
DitchCarbon Score
How does Swedbank'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 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
Swedbank's score of 71 is higher than 84% of the industry. This can give you a sense of how well the company is doing compared to its peers.
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Swedbank's reported carbon emissions
In 2024, Swedbank reported total carbon emissions of approximately 10,253,729,000 kg CO2e, with Scope 1 emissions at about 853,000 kg CO2e, Scope 2 emissions (market-based) at approximately 3,417,000 kg CO2e, and Scope 3 emissions reaching about 10,249,459,000 kg CO2e. The bank's emissions from business travel alone accounted for about 3,968,000 kg CO2e. For 2023, Swedbank's global emissions were approximately 7,098,167,621 kg CO2e, with Scope 1 emissions at about 692,000 kg CO2e and Scope 2 emissions (market-based) at approximately 3,678,000 kg CO2e. Notably, business travel contributed around 4,400,000 kg CO2e to Scope 3 emissions. Swedbank has set ambitious climate commitments, aiming to align its aggregate fund capital with the Paris Agreement's target to limit global warming to 1.5°C by 2025. Additionally, the bank has committed to achieving net-zero emissions by 2050, with a near-term target to reduce direct greenhouse gas emissions by 60% from 2019 levels by 2030 across all scopes. These targets are part of Swedbank's broader strategy to enhance sustainable financing and reduce its carbon footprint. The bank's climate initiatives are supported by its membership in the Science Based Targets initiative (SBTi), where it has committed to long-term net-zero targets. Swedbank's emissions data is not cascaded from any parent organization, ensuring that its reported figures reflect its own operational impact.
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| 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | |
|---|---|---|---|---|---|---|---|---|---|
| Scope 1 | 881,000 | 000,000 | 0,000,000 | 0,000,000 | 000,000 | 000,000 | 000,000 | 000,000 | 000,000 |
| Scope 2 | 16,583,000 | 0,000,000 | 0,000,000 | 0,000,000 | 0,000,000 | 0,000,000 | 0,000,000 | 0,000,000 | 0,000,000 |
| Scope 3 | 19,893,000 | 00,000,000 | 00,000,000 | 00,000,000 | 0,000,000 | 0,000,000 | 0,000,000 | 0,000,000 | 00,000,000,000 |
How Carbon Intensive is Swedbank's Industry?
How Carbon Intensive is Swedbank's Location?
Swedbank's Scope 3 Categories Breakdown
Swedbank's Scope 3 emissions, which increased significantly last year and increased significantly since 2016, demonstrating supply chain emissions tracking. Nearly all of their carbon footprint comes from suppliers and value chain emissions, representing nearly all emissions under the GHG Protocol, with "Investments" being the largest emissions source at 329% of Scope 3 emissions.
Top Scope 3 Categories
Swedbank'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.
Swedbank 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 Swedbank's sustainability data and climate commitments