Swedbank

Swedbank, a financial intermediation services company based in Sweden, reported total carbon emissions of 10,253,729,000 kg CO2e in 2024. This figure includes Scope 1 emissions of 853,000 kg CO2e, Scope 2 market-based emissions of 3,417,000 kg CO2e, and Scope 3 emissions, which notably included 10,249,459,000 kg CO2e from investments and 3,968,000 kg CO2e from business travel.

Looking back, Swedbank's total emissions in 2023 were not provided, but its Scope 1 emissions were 692,000 kg CO2e, Scope 2 market-based emissions were 3,678,000 kg CO2e, and Scope 3 business travel emissions were 4,400,000 kg CO2e. In 2022, Swedbank reported Scope 1 emissions of 622,000 kg CO2e, Scope 2 market-based emissions of 5,065,000 kg CO2e, and Scope 3 business travel emissions of 3,224,000 kg CO2e. For 2021, total emissions were 9,201,000 kg CO2e, with Scope 1 at 466,000 kg CO2e, Scope 2 market-based emissions at 4,787,000 kg CO2e, and total Scope 3 at 3,948,000 kg CO2e.

Swedbank has set a long-term goal to achieve net-zero emissions by no later than 2050, aligning its lending and investment portfolios with the 1.5-degree target of the Paris Agreement. The bank is committed to reducing its direct greenhouse gas emissions (Scope 1, 2, and parts of Scope 3) by 60% by 2030, using 2019 as a baseline year. Swedbank Robur, the bank's asset management arm, aims to align its aggregated assets under management (AUM) with the Paris Agreement by 2025 and achieve net zero by 2040. Additionally, Swedbank aims to increase its sustainable lending volumes by at least three times by 2027, compared to a 2022 baseline. Swedbank AB is also committed to net-zero targets as a Science Based Targets initiative (SBTi) member.