Reducing our footprint

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. Between 2008 and 2015, we reduced our annual CO2 emissions by 54 per cent (read more below). 

Another important task is to channel funding and investments to critical areas in need of capital to enact changes to reduce our society's environmental impact. Read more in Sustainable finance.

Renewed targets to 2020

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. A new baseline has been established for 2015 including countries and processes that previously have not been accounted for due to limited data availability.

Besides the overall CO2 reduction, the targets for 2020 include a 20 per cent reduction of emissions from:

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

Results per focus areas

Business travel

Our carbon emissions from business travel increased with 10 per cent 2008 – 2015, as did distance travelled (25 per cent). This is due to business expansion as well as internal re-organisations. Thanks to more efficient airplanes SEB’s carbon emission from travelling has remained stable since 2012, despite increased travel distance. For the coming years we will increase efforts to offer alternatives to travel.

Company cars

CO2 emissions from company cars were reduced by 58 per cent compared to the 2008 baseline. The reduction was 14 per cent in 2015, compared to 2014. Between 2008 and 2015, the SEB average car has reduced emitted carbon dioxide by 32 per cent, calculated for the whole fleet.

Paper consumption

Our total paper consumption was reduced by 75 per cent compared to the 2008 baseline, The reduction was 17 per cent in 2015 compared to 2014. As an example, we have reduced our physical mailing to clients with over 10 million papers during 2015. This corresponds to a 1,000 meter high pile when papers are laid on top of each other.

Energy use

Energy use in our offices and branch offices has decreased by 32 per cent since 2008. Carbon emissions from our facilities have been reduced by 82 per cent. This due to more energy efficient buildings and increased use of renewable energy sources in many of the countries of operation. For 2015, 92 per cent of our electricity supply was based on renewable sources. Compared to 2008, our electricity consumption has decreased 39 per cent.

Exceeding our target 2008 – 2015

In SEB 2009, set an ambitious target to reduce the annual CO2 emissions by 45 per cent by 2015, compared to 2008 baseline. By the end of 2015, our annual CO2 emissions had been reduced by 54 per cent compared to emissions for 2008. SEB’s total CO2 emissions amounted to 19,118 tonnes in 2015 compared to 42,178 tonnes in 2008. Energy use and business travel represented the most material direct impact of our operations on the environment.

Our approach to reduce our carbon footprint starts with accounting for our CO2 emissions related to the operations over which we have control, such as energy and electricity use in our own buildings, paper consumption and business travel (Scope 2 and 3 emissions).

We include emissions from eleven countries, accounting for more than 94 per cent of our income and 96 per cent of our employees. We monitor our direct environmental footprint on a quarterly basis and report on the information requested by investors, customers and employees in – besides our CS report – also in specific reports, such as the Carbon Disclosure Project (CDP).