Swedbank, a leading bank in Sweden, is committed to reduce emissions to contribute to a more sustainable society and the bank aims to transition its operations to meet the demands of climate change. Swedbank has adopted climate targets for its credit portfolio by 2030. In 2022, the company’s scope 1 GHG emissions reported was 622 tonnes CO2e, scope 2 GHG emissions were 5,065 tonnes CO2e, and scope 3 GHG emissions was 8,872 tonnes CO2e. The bank has established science-based targets to decrease financed emissions within several sectors by 2030, aligning with the 1.5°C target of the Paris Agreement. In the future, the EU Taxonomy can serve as one of the various tools to delineate customer activities that adhere to the Paris Agreement, aiding the bank in achieving its climate targets.

Swedbank has implemented various measures and the bank has developed emissions reduction targets for its loan portfolio, aiming to reduce absolute financed emissions for oil & gas by 50% and financed emissions intensity for commercial real estate by 43%. Swedbank also aligns its climate targets with the Science Based Targets initiative and the Net Zero Banking Alliance, with a goal to limit global warming to 1.5°C.

In addition to emission reduction targets, Swedbank has invested in green, social, and sustainable bonds, as well as products and services related to energy transition, sustainability, and green financing. These investments contribute to the bank's strategic steering towards a more sustainable future, increasing financing for sustainable activities while managing climate change-related risks and opportunities.

In conclusion, Swedbank is committed to a sustainable future and the bank has taken steps to reduce its emissions and has implemented measures to achieve its targets. Through investments in green financing and sustainable products, Swedbank aims to contribute to a more sustainable society while managing climate-related risks.

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