In 2024, Swedbank 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).
Swedbank has also provided a category-level breakdown for 2 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 | 853a | 692a | 622a | |
Total Scope 2 | ||||
Market-Based | 3,417a | 3,678a | 5,065a | |
Location-Based | 9,500a | 9,302b | 13,999b | |
Total Scope 3 | 10,253,427a | 4,400a | 3,224a | |
Total Scope 1 Revenue Intensity (tCO2e/$M) | 0.1282a | 0.0966a | 0.1265a |
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In 2024, the total operational greenhouse gas (GHG) emissions of Swedbank amounted to 10,353 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 Swedbank increased by 3.59%, suggesting that the company faced challenges in reducing its emissions from its core operations.ab
In 2024, the total Scope 1 emissions of Swedbank were 853 metric tons of CO₂ equivalent (tCO₂e).a
Since 2019, Swedbank's Scope 1 emissions have decreased by 16.37%, reflecting a declining long-term trend in Scope 1 emissions over time.a
Compared to the previous year (2023), Swedbank's Scope 1 emissions increased by 23.27%, suggesting that the company faced challenges in reducing emissions from its directly owned or controlled operations.a
In 2024, Swedbank reported Scope 2 greenhouse gas (GHG) emissions of 3,417 tCO₂e using the market-based method and 9,500 tCO₂e using the location-based method.a
Compared to the previous year (2023), Swedbank's Scope 2 emissions (Location-Based) have remained relatively stable, indicating that Swedbank's emissions have plateaued with no significant change in its energy consumption footprint.ab
In 2024, Swedbank reported its Scope 2 emissions using the market-based method and using the location-based method.a
In 2024, Swedbank reported 10,253,427 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 Swedbank includes a breakdown across 2 of the 15 Scope 3 categories defined by the GHG Protocol, up from 1 in 2023, reflecting improved emissions accounting practices and greater transparency across the company's value chaina
In 2024, Swedbank reported total Scope 3 emissions of 10,253,427 metric tons of CO₂ equivalent (tCO₂e).a
Approximately 0.04% of these emissions originated from upstream activities such as purchased goods and capital goods, while 99.96% came from downstream activities like product use, distribution, and end-of-life treatment.a
Since 2019, Swedbank's Scope 3 emissions have increased by 62,577.59%, reflecting a rising long-term trend in Scope 3 emissions over time.a
Compared to the previous year (2023), Swedbank's Scope 3 emissions increased by 232,932.43%, suggesting that the company faced challenges in reducing emissions across its value chain.a
In 2024, Swedbank reported emissions for 2 out of the 15 Scope 3 categories defined by the GHG Protocol.a
The limited disclosure restricts visibility into specific emission sources across the company's value chain.
In 2024, the largest contributors to Swedbank's Scope 3 emissions were:a
In 2024, Swedbank reported Scope 1 greenhouse gas (GHG) emissions of 853 tCO₂e and total revenues of USD 6,654 millions. This translates into an emissions intensity of 0.13 tCO₂e per millions USD.a
In 2024, Swedbank reported a Scope 1 emissions intensity of 0.13 tCO₂e per millions USD. Compared to the peer group median of 0.99, this places the company below its industry benchmark, indicating it is more carbon-efficient than most competitors.a
In 2024, Swedbank ranked 8 out of 24 companies in its industry peer group, based on Scope 1 emissions intensity (measured in tCO₂e per millions USD).a
Swedbank is therefore positioned in the mid-range of its industry, neither a clear leader nor a laggard in carbon efficiency.a
In 2024, Swedbank reported a total carbon footprint of 10,263,780 metric tons of CO₂ equivalent (tCO₂e) across Scope 1, Scope 2, and Scope 3 emissions. This represents a 71,205.96% increase compared to 2023, suggesting a rise in emissions across its operations or value chain.ab
The largest contributor to Swedbank's total carbon footprint was Scope 3 emissions, accounting for 99.9% of the company's total carbon footprint, followed by Scope 2 emissions at 0.09%.a