SpareBank, a Norwegian bank, has set target for net zero emissions by 2050 and to halve its climate footprint by 2030. The bank recognizes the importance of achieving net-zero and is taking steps to reduce its emissions in scope 1, scope 2, and scope 3 categories. It follows both a market-based approach, where it purchases renewable energy with zero emissions, and a location-based approach, which considers actual emissions from energy consumption. In 2022, The company reported GHG emissions for scope 2 emissions (both location-based and market-based) were 783.05 and 1,898.09 tCO2e, respectively and scope 3 emissions (both upstream GHG-emissions and downstream GHG-emissions) were 20,145.35 and 1,076,599.37 tCO2e, respectively.

The bank has made investments to reduce emissions and is working on developing action plans to further reduce emissions. It aims to be a driver for green transition and is actively working to reduce emissions from its customers as well. In terms of specific emission figures, the bank's GHG emissions per NOK 1000 of total net turnover and total lent amount have decreased compared to the previous year. However, GHG emissions per man-year have increased slightly. The bank has also seen reductions in emissions intensity in some industries, except for shipping and offshore. SpareBank uses various models, such as Klimakost and FIGARO, to calculate emissions and assess the impact of its activities. These models provide insights into emissions from different sectors and help the bank track its progress in emission reduction.

Overall, SpareBank is committed to reducing its carbon/GHG emissions and is taking steps to achieve its net-zero targets. The bank is actively working on reducing emissions from its own operations and from its customers. It recognizes the importance of transitioning to a greener economy and is making investments and developing action plans to achieve its emission reduction goals.

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