Climate Transition Plan
Our Climate Transition Plan outlines how we work to achieve net zero emissions and presents our ambition for sustainable financing volumes.
Climate
The direction is clear. Swedbank sees climate change as one of the greatest challenges of our time. Considering our history, our purpose, and our vision, we are determined to facilitate a climate transition that aligns with the Paris Agreement and to contribute to meeting the UN Sustainable Development Goals (SDGs). This commitment will help Swedbank to influence society in a more sustainable direction.
A sustainable business strategy
Swedbank revised its strategic direction at the end of 2020 and placed sustainability at the core of the business strategy. Swedbank’s vision is a financially sound and sustainable society where the bank empowers people and businesses to create a better future. Consequently, Swedbank decided not to provide any new direct financing of unconventional production of fossil fuels, nor exploration of new gas and oil fields unless the customer can supply and demonstrate a transition agenda for their entire value chain that aligns with the Paris Agreement. This is one step forward in our sustainable business strategy.
Climate analysis and follow-up
Swedbank continuously develops its climate change disclosure through improved data collection and future climate scenario analysis. In Swedbank’s annual and Sustainability Report, we disclose detailed exposure towards climate risks in our lending and investments including specific sector reporting.