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Reducing our own footprint

Five small brown houses near the sea.

We have a responsibility and works 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. From 2021 onwards, our goal is to reach a net effect of zero through climate compensation.

To achieve our goals SEB will work to, among others, improve energy efficiency of operations and buildings, reduce business travel by using alternative meeting formats and reduce travel-related fossil emissions and shift to an electrified fleet of company cars.

Reduced total carbon emissions

In 2021 we continued to see the effects of the Covid-19 pandemic, mainly on business travel, which more than halved in terms of carbon emissions compared to 2020. SEB's total carbon emissions decreased by almost 4 per cent from 9,734 tonnes in 2020 to 9,389 tonnes in 2021, which is significantly below the bank's target of limiting emissions to 17,000 tonnes ±5 percent by 2025. The long-term ambition is to reduce own carbon emissions to close to zero in 2045.

In 2021 we acquired emission rights corresponding to 5,000 tonnes, compensating for part of the direct emissions measured in 2020. We will achieve the goal to become climate neutral for 2021, through climate compensation. Emission rights are acquired during 2022.