We are integrating environmental considerations in our business in two ways. Both by taking into account our customers’ and holdings environmental risks and opportunities in our investment- and credit decisions. And also by taking responsibility for the environmental impact from our own operations.
The process of minimising resource consumption and waste is a never ending story. All processes need specific adjustments and targeted actions in order to be more efficient.
The development of reducing the purchase of non-renewable energy is central for Swedbank Group as it has a significant impact on the total emissions volume. More work needs to be done in the area and the incentives for our tenants of choosing more carbon efficient energy solutions increases consistently in line with improved and more cost efficient alternatives, such as solar panels.
Important actions to reduce emissions from energy use in Swedbank Group are to:
- Continue to increase the share of renewable electricity in Baltic Banking, steering the focus to Latvia and Lithuania.
- Switch to and/or choose biogas over natural gas as an energy source for heating in Baltic Banking.
- Improve the energy efficiencies in our Swedish premises, to incorporate more energy-efficient and space-saving properties, and continuously encourage property owners to adopt energy conservation measures in the buildings we rent.
Pollution as well as climate impact from business travel and transports, are focus areas for environmental impact reduction. A policy for business travel urges employees to always consider environmental impact when choosing means of travelling. Everyone is encouraged to travel by train, rather than by airplane. During 2018 an air travel free week was introduced to reduce flying. Swedbank use alternative meeting solutions such as digital conference meetings. These activities continued during 2019.
Swedbank has set ambitious group-wide targets to reduce climate emissions from our direct operations on a short, medium term and long term perspective. Read more in our Sustainable Banking-strategy
Learn more about the details in our environmental impact in our Annual Report.