Spar Nord Bank A/S

Climate Impact & Sustainability Data (2023)

Total Carbon Emissions:409,000 tCO2e (investments) + 326,000 tCO2e (lending) + 1,017 tCO2e (own activities)

Scope 1 Emissions:216 tCO2e (own activities)

Scope 2 Emissions:327 tCO2e (own activities)

Scope 3 Emissions:474 tCO2e (own activities) + financed emissions from lending and investments

Reduced financed emissions from lending by 19% compared to the 2021 baseline.
Reduced financed emissions from investments by 29% compared to the 2020 baseline.

Provided more tools in online banking to increase the transparency of the sustainability of an investment and make it easier for customers to select investment products that suit their sustainability preferences.
All the Bank's business advisors as well as selected employees from the credit department, business development, as well as the risk management function have received ESG training.

Medium-term Goals:

Reduce financed emissions from investments in equities and corporate bonds by 60% in 2030 (compared to 2020 baseline).
Reduce financed emissions from lending by 45% in 2030 (compared to 2021 baseline).
Reduce carbon emissions from the Bank's own activities by 50% in 2030 (compared to 2021 baseline).

Short-term Goals:

Reduce financed emissions from investments in equities and corporate bonds by 30% in 2025 (compared to 2020 baseline).
Reduce financed emissions from lending by 20% in 2025 (compared to 2021 baseline).
Reduce carbon emissions from the Bank's own activities by 30% in 2025 (compared to 2021 baseline).

Uncertainty with regard to the quality of data for calculating financed emissions.
Dependence on assets composition and price developments in the various groups of assets.
Data quality of derived data is still inaccurate and incomplete for both lending and investments.

Regularly reassess targets and supporting actions to ensure achievement of objectives.
Use calculations as a foundation for further efforts to identify opportunities to reduce negative impacts and increase positive impacts.
Expect that the data basis for emissions data will be improved in the coming years.

Frameworks Used: PCAF, GHG Protocol

Spar Nord aims to support sustainable transition through financing and investment activities that mitigate climate change.