In 2024, Codan completed a corporate carbon footprint assessment and publicly disclosed its greenhouse gas (GHG) emissions according to the GHG Protocol, covering Scope 1 (direct emissions from owned or controlled sources), Scope 2 (indirect emissions from purchased energy) and Scope 3 (indirect emissions across the value chain).
Codan has also provided a category-level breakdown for 12 out of 15 Scope 3 emissions categories, offering greater transparency into its value chain emissions.
| Metric (tCO2e) | 2024 | 2023 |
|---|---|---|
Total Scope 1 | 1,485a | 1,433a |
Total Scope 2 | ||
Unspecified Calculation Method | 1,037a | 948a |
Total Scope 3 | 51,835a | 50,601a |
Total Scope 1 Revenue Intensity (tCO2e/$M) | 4.0446a | 4.7109a |
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In 2024, the total operational greenhouse gas (GHG) emissions of Codan amounted to 2,522 metric tons of CO2 equivalent. This figure includes both direct emissions from owned or controlled sources (Scope 1) and indirect emissions from purchased energy (Scope 2).a
Compared to 2023, the total operational greenhouse gas (GHG) emissions of Codan increased by 5.92%, suggesting that the company faced challenges in reducing its emissions from its core operations.a
In 2024, the total Scope 1 emissions of Codan were 1,485 metric tons of CO₂ equivalent (tCO₂e).a
Compared to the previous year (2023), Codan's Scope 1 emissions increased by 3.63%, suggesting that the company faced challenges in reducing emissions from its directly owned or controlled operations.a
In 2024, Codan reported Scope 2 greenhouse gas (GHG) emissions of 1,037 tCO₂e without specifying the calculation method.a
Compared to the previous year (2023), Codan's Scope 2 emissions (Unspecified Calculation Method) have remained relatively stable, indicating that Codan's emissions have plateaued with no significant change in its energy consumption footprint.a
In 2024, Codan reported its Scope 2 emissions using an unspecified methodology.a
In 2024, Codan reported 51,835 metric tons of CO₂ equivalent (tCO₂e) of Scope 3 greenhouse gas (GHG) emissions, representing indirect emissions across its upstream and downstream value chain.a
The 2024 disclosure of Codan includes a breakdown across 12 of the 15 Scope 3 categories defined by the GHG Protocol, matching the level of disclosure in 2023, demonstrating consistent Scope 3 emissions reporting coverage year over year.a
In 2024, Codan reported total Scope 3 emissions of 51,835 metric tons of CO₂ equivalent (tCO₂e).a
Approximately 88.63% of these emissions originated from upstream activities such as purchased goods and capital goods, while 11.37% came from downstream activities like product use, distribution, and end-of-life treatment.a
Compared to the previous year (2023), Codan's Scope 3 emissions remained relatively stable, indicating that Codan's emissions have plateaued with no significant change in its value chain footprint.a
In 2024, Codan reported emissions for 12 out of the 15 Scope 3 categories defined by the GHG Protocol.a
This reflects a high level of granularity and transparency in the company's emissions reporting.
In 2024, the largest contributors to Codan's Scope 3 emissions were:a
In 2024, Codan reported Scope 1 greenhouse gas (GHG) emissions of 1,485 tCO₂e and total revenues of USD 367 millions. This translates into an emissions intensity of 4.04 tCO₂e per millions USD.a
In 2024, Codan reported a Scope 1 emissions intensity of 4.04 tCO₂e per millions USD. Compared to the peer group median of 1.8, this places the company above its industry benchmark, indicating it is less carbon-efficient than most competitors.a
In 2024, Codan ranked 21 out of 24 companies in its industry peer group, based on Scope 1 emissions intensity (measured in tCO₂e per millions USD).a
This places Codan among the least efficient performers, with one of the highest emissions intensities in its sector.a
In 2024, Codan reported a total carbon footprint of 54,357 metric tons of CO₂ equivalent (tCO₂e) across Scope 1, Scope 2, and Scope 3 emissions. This represents a 2.6% increase compared to 2023, suggesting a rise in emissions across its operations or value chain.a
The largest contributor to Codan's total carbon footprint was Scope 3 emissions, accounting for 95.36% of the company's total carbon footprint, followed by Scope 1 emissions at 2.73%.a