Climate
The direction is clear. Swedbank sees climate change as one of the greatest challenges of our time. Considering its purpose and long-term strategy, Swedbank aims to support the climate transition through its business activities. The bank has established climate-related commitments and targets aligned with the goals of the Paris Agreement and integrates sustainability-related considerations into relevant decision-making processes.
Sustainability in business strategy
Swedbank’s vision is a financially sound and sustainable society where we empower the many people and businesses to create a better future. A major transition of society is needed, and banks have an important role to play to manage global environmental challenges that affect us and future generations. In Swedbank’s Position Statement on Climate Change and Nature the bank clarifies that Swedbank aims to support and participate in financing climate transition of our customers. Swedbank also emphasises its role in promoting technologies to enable a sustainable transition, such as electrification and renewable energy. Furthermore, Swedbank has specified restrictions on fossil fuels as part of its work to mitigate climate change.
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.