Methodology for developing the climate targets
Read more about the methodology for developing Swedbank’s climate targets.
Climate targets
Swedbank has adopted 2030 decarbonisation targets for the lending portfolio. The targets are in line with the global 1.5° C target and have been set for the following sectors: mortgages, commercial real estate, oil & gas, power generation, steel, and shipping.
Climate targets for the lending portfolio for 2030
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Mortgages: the target is to reduce the financed emission intensity (kgCO2e/m2) by 39 per cent (compared to baseline 2019).
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Commercial real estate: the target is to reduce the financed emission intensity (kgCO2e/m2) by 43 per cent (compared to baseline 2019).
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Oil & gas (exploration, production and refining): the target is to reduce the absolute financed emissions (tCO2e) by 50 per cent (compared to baseline 2019).
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Power generation: the target is to reduce the financed emission intensity (tCO2e/MWh) by 59 per cent (compared to baseline 2019).
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Steel: the target is to reduce the financed emission intensity (tCO2e/tonne) by 29 per cent (compared to baseline 2019).
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Shipping: the target is to align the emission intensity of Swedbank’s shipping portfolio with International Maritime Organization’s (IMO) most ambitious reduction pathway (reach 0% ‘alignment delta’). The target applies to lending to vessels covered by the Poseidon Principles (vessels above 5,000 gross tonnage).