Swedbank has set net-zero targets to transition its operations to meet the demands of climate change and its impacts. Swedbank's latest filings mentioned the keywords 'Emissions' and 'Climate Change' most number of times in relation to 'Net Zero'.

The bank aims to contribute to a more sustainable society and meet its net-zero targets by 2040. The company has adopted the Science Based Targets initiative (SBTi) methodology, utilizing it to establish and verify science-based climate targets that align its AUM (assests under management) with the goals outlined in the Paris Agreement by 2025. In 2022, the company reported Scope 1 emissions at 622 tonnes CO₂ equivalent and Scope 2 emissions at 5,065 tonnes CO₂ equivalent (market based) and 8,872 tonnes CO₂ equivalent for Scope 3 emissions.

The bank has already taken steps to reduce emissions, including setting emissions reduction targets for parts of its loan portfolio to limit global warming to 1.5°C. One of its goals is to reduce direct greenhouse gas emissions by 60% by 2030 compared with 2019. The bank has also invested in green, social, and sustainable bonds, products and services in connection with energy transition, sustainability linked loans, green loans, green mortgages, and solar energy loans. Swedbank reports in accordance with the standards and frameworks indicated above and with reference to the SASB's framework.

In conclusion, Swedbank has set its net-zero targets, aligned with the Paris Agreement, to transition its operations and contribute to a more sustainable society, while adopting the Science Based Targets initiative (SBTi) methodology. The bank has taken steps to reduce emissions, invest in green initiatives, and reports in accordance with recognized standards and frameworks, such as SASB.

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