GlobalData offers a comprehensive analysis of Sampo, providing key insights into its Environmental, Social, and Governance(ESG) factors. By closely monitoring and aggregating mentions of Net Zero and associated ESG keywords, GlobalData delivers valuable information on Sampo‘s ESG performance. GlobalData’s company profile on Sampo offers a 360-degree view of the company, SWOT analysis, key financials, and business strategy including insights on ESG implementation among other information. Buy the report here.
Sampo, a Finnish financial services company, is working towards to the goal of limiting global warming by reducing the direct GHG emissions from the group companies. Sampo's latest filings mentioned the keywords 'Emissions' and 'Climate Change' most number of times in relation to 'Net Zero'.
In 2022, the company's subsidiary Topdanmark has committed to the Science Based Targets initiative (SBTi) and its Net-Zero Standard. Another subsidiary, Hastings, is dedicated to minimizing the environmental footprint of its investment portfolio and has made a firm commitment to achieve a 50% reduction in carbon intensity within the core investment portfolio by 2030, and to be net-zero by 2050. The company has taken steps to integrate climate change measures into its policies, strategies, and planning, and has set requirements and targets for its suppliers and overall supply chain management. Sampo's non-life insurers have made commitments to the Science-Based Targets initiative (SBTi) and are working on setting science-based climate targets. The company has also developed risk management services and preventative measures to increase resilience and climate change adaptation.
In 2022, the company reported Scope 1 emissions at 1,188 tCO2e and Scope 2 emissions at 4,066 tones CO₂ equivalent respectively. Scope 3 emissions (category 6 — business travel) were reported at 15,586 tCO2e. According to Sampo's sustainability report for 2022, the company's greenhouse gas (GHG) emissions have decreased by 36.4% for scope 1 emissions, which include direct GHG emissions from stationary and mobile combustion, and refrigerants. However, the company's scope 2 emissions, which include indirect GHG emissions from purchased electricity, heating, and cooling, have increased by 65.4%. Sampo's scope 3 emissions, which include other indirect emissions from business travel, waste generated in operations, and fuel and energy-related activities, have increased by 146.8%. Sampo's latest filings mentioned the keywords 'Emissions' and 'Climate Change' most number of times in relation to 'Net Zero'.
To achieve its net-zero targets, Sampo has set requirements and targets for the operations of its subsidiaries, as well as for its suppliers and overall supply chain management. The company has also invested in renewable electricity and is working on setting science-based climate targets. Sampo aims to reduce waste generation through prevention, reduction, recycling, and reuse, and to improve education, awareness raising, and human and institutional capacity for climate change mitigation, adaptation, impact reduction, and early warning.
In conclusion, Sampo has set ambitious targets to achieve net-zero emissions and has taken steps to integrate climate change measures into its policies, strategies, and planning. The company has set requirements and targets for its suppliers and overall supply chain management, and is investing in renewable electricity. However, the company's scope 2 and scope 3 emissions have increased, highlighting the need for further action to achieve its net-zero targets.