Climate change is one of today's most serious challenges. SEB recognises the importance of limiting the average global temperature rise to well below the 2°C target. We therefore actively work to reduce our direct environmental impact.

However, as a bank, our largest environmental impact is indirect, the results of our funding and investments to environmental areas in need of capital. Read more in Sustainable finance.

Renewed targets to 2020

Between 2008 and 2015, we reduced our annual CO2 emissions by 54 per cent. Keeping our ambitions high, we will continue to work with minimising our direct footprint. We will further optimise our energy consumption, reduce paper consumption and improve our company car fleet. Special focus will be put on air travel in order to further reduce emissions related to business travel, as this area now accounts for the major part of our carbon footprint.

Our target for 2020 is to reduce our carbon footprint with another 20 per cent and to improve resource efficiency. Besides the overall CO2 reduction, the targets for 2020 include a 20 per cent reduction of emissions from:

• business travel
• company cars
• paper consumption
• energy and electricity consumption

Results per focus areas

Business travel

Carbon emissions from business travel is our most challenging source of CO2 emissions. About 60% of our emissions  in 2018 were related to this. Compared with 2017, emissions from business travel increased by 2 per cent in 2018. Air travel distance has increased while train travel distance remained the same. Going forward, SEB will further focus on reducing emissions related to air travel.

Company cars

CO2 emissions from company cars were reduced by 8 per cent in 2018, compared to 2017. During the same period, the SEB average car has reduced emitted CO2 by 1 per cent.

Paper consumption

In 2018, SEB decreased its total paper consumption with 12 per cent. The bank continued to digitalise customer letters and internal reports saving up to 5 million printed pages.

Energy use

SEB’s electricity consumption decreased by 9.5 per cent in 2018. The major part of electricity used is based on renewable sources, 91 per cent (91).  The CO2 emissions from energy consumption decreased by 15 per cent during 2018. For all environmental details, see Sustainability Fact Book (pdf). 

For all environmental details, see Sustainability Fact Book.