In 2024, Nordea Bank Abp 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).
Nordea Bank Abp has also provided a category-level breakdown for 6 out of 15 Scope 3 emissions categories, offering greater transparency into its value chain emissions.
| Metric (tCO2e) | 2024 | 2023 | 2022 | 2021-2019 |
|---|---|---|---|---|
Total Scope 1 | 1,025a | 1,142a | 1,315c | |
Total Scope 2 | ||||
Market-Based | 3,037a | 3,116a | 4,150c | |
Location-Based | 6,299a | 6,401a | 5,359b | |
Total Scope 3 | 23,928,722a | 24,885,109a | 17,716,566c | |
Total Scope 1 Revenue Intensity (tCO2e/$M) | 0.0815a | 0.0879a | N/A |
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In 2024, the total operational greenhouse gas (GHG) emissions of Nordea Bank Abp amounted to 7,324 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 Nordea Bank Abp decreased by 2.9%, showing that the company has made progress in taking action to reduce the climate impact of its operations.a
In 2024, the total Scope 1 emissions of Nordea Bank Abp were 1,025 metric tons of CO₂ equivalent (tCO₂e).a
Since 2019, Nordea Bank Abp's Scope 1 emissions have decreased by 37.35%, reflecting a declining long-term trend in Scope 1 emissions over time.a
Compared to the previous year (2023), Nordea Bank Abp's Scope 1 emissions decreased by 10.25%, highlighting the company's efforts to lower direct emissions from assets it owns or controls.a
In 2024, Nordea Bank Abp reported Scope 2 greenhouse gas (GHG) emissions of 3,037 tCO₂e using the market-based method and 6,299 tCO₂e using the location-based method.a
Since 2019, Nordea Bank Abp's Scope 2 greenhouse gas (GHG) emissions (Location-Based) have decreased by 45.87%, reflecting a declining long-term trend in Scope 2 emissions over time.a
Compared to the previous year (2023), Nordea Bank Abp's Scope 2 emissions (Location-Based) have remained relatively stable, indicating that Nordea Bank Abp's emissions have plateaued with no significant change in its energy consumption footprint.a
In 2024, Nordea Bank Abp reported its Scope 2 emissions using the market-based method and using the location-based method.a
In 2024, Nordea Bank Abp reported 23,928,722 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 Nordea Bank Abp includes a breakdown across 6 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, Nordea Bank Abp reported total Scope 3 emissions of 23,928,722 metric tons of CO₂ equivalent (tCO₂e).a
Approximately 0.07% of these emissions originated from upstream activities such as purchased goods and capital goods, while 99.93% came from downstream activities like product use, distribution, and end-of-life treatment.a
Since 2019, Nordea Bank Abp's Scope 3 emissions have decreased by 29.18%, reflecting a declining long-term trend in Scope 3 emissions over time.a
Compared to the previous year (2023), Nordea Bank Abp's Scope 3 emissions remained relatively stable, indicating that Nordea Bank Abp's emissions have plateaued with no significant change in its value chain footprint.a
In 2024, Nordea Bank Abp reported emissions for 6 out of the 15 Scope 3 categories defined by the GHG Protocol.a
This partial disclosure allows for some insight into the company's indirect impacts.
In 2024, the largest contributors to Nordea Bank Abp's Scope 3 emissions were:a
In 2024, Nordea Bank Abp reported Scope 1 greenhouse gas (GHG) emissions of 1,025 tCO₂e and total revenues of USD 12,577 millions. This translates into an emissions intensity of 0.08 tCO₂e per millions USD.a
In 2024, Nordea Bank Abp reported a Scope 1 emissions intensity of 0.08 tCO₂e per millions USD. Compared to the peer group median of 0.54, this places the company below its industry benchmark, indicating it is more carbon-efficient than most competitors.a
In 2024, Nordea Bank Abp ranked 6 out of 25 companies in its industry peer group, based on Scope 1 emissions intensity (measured in tCO₂e per millions USD).a
Nordea Bank Abp is therefore positioned in the mid-range of its industry, neither a clear leader nor a laggard in carbon efficiency.a
In 2024, Nordea Bank Abp reported a total carbon footprint of 23,936,046 metric tons of CO₂ equivalent (tCO₂e) across Scope 1, Scope 2, and Scope 3 emissions. This represents a 3.84% decrease compared to 2023, indicating progress in reducing its overall greenhouse gas output.a
The largest contributor to Nordea Bank Abp's total carbon footprint was Scope 3 emissions, accounting for 99.97% of the company's total carbon footprint, followed by Scope 2 emissions at 0.03%.a