In 2023, Swedbank disclosed key data related to its energy management practices, providing transparency into its operational energy use in line with recognized sustainability reporting frameworks.
Swedbank disclosed progress toward renewable energy adoption, highlighting the share of total energy sourced from renewable versus non-renewable sources.
| Metric (GJ) | 2023 | 2022 | 2021 | 2020-2019 |
|---|---|---|---|---|
Total Energy Consumption | 245,056a | 289,998a | 285,167a | |
Non-Renewable Energy Consumption | 125,842a | 134,731a | 138,470a | |
Renewable Energy Consumption | 119,213a | 155,267a | 146,697a |
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In 2023, Swedbank consumed a total of 245,055.6 Gigajoules of energy across its operations. Of this total, 48.65% was sourced from renewable energy, either derived from natural resources like biofuels, biomass, or biogas, or generated using renewable technologies such as solar or wind power. The remaining 51.35% was classified as non-renewable energy, coming from fossil-based fuels such as coal, natural gas, or crude oil, or from non-renewable generation technologies like nuclear power.a
In 2023, Swedbank consumed a total of 245,055.6 Gigajoules of energy, of which 48.65% was derived from renewable sources, including biofuels, biomass, biogas, solar, and wind power.a
This moderate level of renewable energy adoption indicates that Swedbank is transitioning toward cleaner energy sources, though a significant share of its energy mix still relies on non-renewable inputs.
Since 2021, Swedbank's total energy consumption decreased by 14.07%, including a further 15.5% drop in 2023, highlighting a continued decline in energy use.a
Over the same period, the share of renewable energy decreased by 5.43%, with a further 9.14% drop in 2023, highlighting a weakening in renewable energy performance.a
Overall, Swedbank’s energy trends reveal a complex picture, with variations in total consumption and renewable sourcing. A closer examination of operational drivers and sourcing strategies is needed to fully assess the company’s environmental impact.