Primary Climate Goal
Nordea Bank's target annual all Scopes emissions for 2030 should be equal to 21 Kt = 50% * 42 Kt, according to the company's stated climate goal.
In order to achieve this goal, Nordea Bank would need to reduce its emissions at least by 0.5 Kt per annum over the period from 2021 to 2030:
0.5 Kt = ( 21 Kt - 16 Kt ) / (2030 - 2020)
This translates into a +3.1% increase in 2021.
The projected range shown on the chart is based on the Exerica's algorithm which takes account of both the company's stated goal and its past performance.
Nordea Bank aims to reduce all Scopes by 50% by 2030 from a base year 2019
This target is most likely outdated and the company appears to have already achieved it
Science Based Targets initiative In October 2021 SBTi developed and launched world's first net zero standard, providing framework and tools for companies to set science-based net zero targets and limit global temperature rise above pre-industrial levels to 1.5 °C.
GHG emissions and Carbon intensity
Scope 1 + 2 GHG emissions (in tons of CO2e) divided by the company's Revenues (in USDm) for the same period
Nordea Bank reported Total CO2e Emissions - Market-Based Scope 1 + Scope 2 for the twelve months ending 31 December 2020 at 6.2 Kt (-0.78 /-11.1% y-o-y). Also positively, carbon intensity tumbled to 0.7 t (-0.1 /-12.5% y-o-y).
Nordea Bank's Scope 3 emissions plummeted to 9.7 Kt (
The company is committed to reducing all Scopes by 50% by 2030 from a base year 2019, which it appears to have already achieved as of 2020. This target, however, has not been recognised as science-based (and as aligned with Paris Agreement) by the SBTi.