Reducing our own footprint
We have a responsibility and work actively to reduce our own environmental footprint. Since 2008 we have been measuring our carbon emissions from energy consumption, use of paper, company cars and business travel. From 2021 we also measure our carbon emissions from waste.
We have set targets to reduce CO2 emissions to zero by 2045. This targets includes milestones to reduce emissions with 66 per cent by 2025 and with 75 per cent by 2030, both compared to baseline year 2008. During 2023, SEB’s total GHG emissions from own operations increased to 13,251 tonnes (11,610) which is below the bank’s target of limiting emissions to 17,000 tonnes ±5 per cent by 2025. Travel emissions increased to 8,170 tonnes (6,043) tonnes. We undertake several measures to achieve our reduction targets, such as improving energy efficiency of operations and buildings and increasing the use of renewable energy.
Climate compensation
Since 2021, we aim to achieve climate neutrality by offsetting the emissions that we cannot reduce on our own. SEB’s main strategy for offsetting its 2022 emissions was to buy CO2 removal certificates (CORCs) from Puro.earth, a carbon removal marketplace. These certificates support biochar projects that store carbon for at least 100+ years. SEB also bought Sustainable Aviation Fuel from SAS and emission rights from the EU Emissions Trading System (EU ETS).
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