Danske Bank is fully committed to leading the green transition. We have reduced investments in and lending to oil and gas production companies by 37% and 50% respectively since 2020.
The launch of a new and ambitious climate action plan that maps Danske Bank’s total carbon emissions from all of its activities, direct as well as indirect, marks the next step on this journey.
The mapping is based on 2020 figures, which provide the latest available data.
This data shows that the Group’s entire carbon footprint amounts to 41.1 million tonnes of carbon emissions, which underlines Danske Bank’s important role in the green transition as Denmark’s total carbon emissions in 2021 amounted to 44 million tonnes.
The mapping forms the basis for a comprehensive new climate action plan – a plan to ensure that by 2030 and 2050 Danske Bank and its customers will have reduced their carbon emissions in line with the goals of the Paris Agreement..
“Being the second-largest bank in the Nordic region with close to 3.3 million customers and DKK 2,800 billion in invested capital and lending, we are in a unique position to contribute to solving the climate challenge. We have therefore prepared an ambitious plan to support our own and our customers’ transition towards a sustainable future. The plan encompasses all activities, from providing finance to personal customers who want to improve the energy-efficiency of their homes to businesses involved with fossil energy production that want to transition to more sustainable alternatives,” says Carsten Egeriis, CEO of Danske Bank.
The vast majority – 99.9% – of Danske Bank’s climate footprint comes from so-called financed emissions. These are indirect downstream carbon emissions that are generated as a result of Danske Bank’s financing and investment activities.