Swedbank AB
105 34 Stockholm

Tel: +46-8-585 900 00
Fax: +46-8-796 80 92
Email: csr@swedbank.com






Karolina Semionavite


None mentioned or found.



Report created by Sonria Willis


SECTIONS :  Sustainability  Targets    Evaluation  •  Key Points  •  Overview

Company Activity

Swedbank AB is a savings bank. The Company offers financial services and products in its home markets of Sweden, Estonia, Latvia and Lithuania. 

The Company’s segments are Swedish Banking, Baltic Banking, Large corporates & Institutions, and Group Functions & Other. The Company offers products mainly in the areas of lending, payments and savings. 

The Swedish Banking segment offers its products to private customers and companies in the Swedish market. The Baltic Banking segment offers its products to private customers and companies in Estonia, Latvia and Lithuania. The Large Corporates & Institutions segment offers its services to large companies and financial institutions.

Company Sustainability Activity

Swedbank states it is committed to align its strategies with the Paris Agreement targets by 2025 and is working towards carbon-neutrality by 2040. In 2020, Swedbank adopted a new climate change target to reduce Greenhouse gas emissions by 60% from 2019 to 2030. In 2021, the bank’s main goal is to develop climate targets for the real estate sector aligned with the Paris Agreement.

The bank supports several initiatives such as the UN Principles for Responsible Banking, the Principles for Responsible Investment, or the International Corporate Governance Network. Swedbank is also part of the Climate Action 100+, Green Bonds Principles and Institutional Investors Group on Climate Change. It has also notably joined the Net-zero asset manager initiative, a commitment to achieve carbon dioxide neutrality in asset management by 2050.

In 2020, a number of innovative and sustainable funds were launched as part of the Transition Energy fund. Five of the bank’s funds satisfy the Nordic Swan’s ecolabel-criteria — meaning they succeed in meeting sustainability requirements and exclude fossil fuels.

Swedbank has pledged to set climate goals in line with the Science-Based Targets Initiative. Swedbank is now developing climate targets related to its mortgage business and commercial real estate lending aligned with the Paris Agreement.

For its own operations, Swedbank has set targets to reduce resource consumption and promote a stable climate and energy transformation. In the period 2010–2020, Swedbank’s direct greenhouse gas emissions were reduced by 84%; however, the Covid-19 pandemic contributed significantly to the decrease in 2020. 

Swedbank is also working to promote circularity and IT equipment as reused to reduce the environmental impact. During the year it is estimated that this routine has led to emission savings of 1,756 tonnes. The aim of Swedbank’s climate-related targets is to further reduce direct emissions. 

To reduce the bank’s own environmental impacts as well as those of customers and suppliers, environmental work is carried out through a structured approach based on an environmental management system that has been ISO 14001 certified


  • Acted as a Joint Lead manager on a new bond with the European Investment Bank to mitigate the impact of COVID-19.
  • Acted as a structuring advisor to K2A in the development of a new green equity framework.
  • Acted as a Joint Lead Manager for Sweden’s first sovereign green bond.
  • Launched fund focused on energy transition: the ‘Swedbank Robur Transition Energy’ project.


  • Develop long-term climate targets for the real estate sector in line with the Paris Agreement.
  • Reduce Swedbank’s direct greenhouse gas emissions by 60% between 2019 and 2030.
  • Reduce energy consumption in the bank’s premises by 15% between 2017–2025.
  • Increase financial literacy among children and young adults by offering lectures in schools.
  • Achieve gender parity at all levels of the bank.
  • Reduce sickness absence in both the short and long term and identify early signs of illness.
  • Equal pay for equal work.
  • By 2025, the aggregate fund capital will be aligned with the target of the Paris Agreement to limit global warming to 1.5 degrees Celsius.
  • By 2040, the aggregate fund capital managed by Swedbank Robur will be placed in carbon neutral investments.
  • Increase sustainable finance to reduce the bank’s negative impact on climate change and resource efficiency.


No progress explicitly reported.


UN Sustainable Development Goals

UN SDGs Compliance

SDG1: No Poverty

  • Community services targeted to low and moderate-income individuals for health care, education and social services

SDG 3: Good Health and Well-being

  • Elaborate paid time-off programs for medical leave

SDG 8: Decent Work and Economic Growth

  • Support for small business lending

SDG 9: Industry, Innovation and Infrastructure

  • Making office buildings more energy-efficient 

SDG 13: Climate Action

  • During the years 2019–2020, the bank has reduced emissions by 53%
  • The carbon footprint of Swedbank Robur’s funds has decreased by 60% since 2018
  • Included in Dow Jones Sustainability Index with the result 93 out of 100 in the Environmental Dimension category


Swedbank emphasizes its commitment to UN-led initiatives, specifically the UN SDGs, and has created partnerships with local and international organizations to meet these goals as well as the Paris Agreement objectives. Indeed, the bank is involved in a number of initiatives such as the Institutional Investors Group on Climate Change or the Climate Action 100+.

In 2020, Swedbank adopted a new climate change target to reduce Greenhouse gas emissions by 60% from 2019 to 2030. In 2021, the bank’s main goal is to develop climate targets for the real estate sector aligned with the Paris Agreement. However, in its report, no specific data on progress is mentioned.

Swedbank holds a LEED certification and has made several note-worthy listings such as achieving an MSCI rating of AA and a score of A- in the CDP Climate Change survey. However, no awards are mentioned.

This report gives Swedbank a grade of C.

Analyst Outlook: Neutral 

Swedbank has recently been involved in a few partnerships that support sustainable business practices to couple with its stated report of sustainable finance.

Swedbank would have received a higher score if it was more explicit in reporting its progress since no progress table or list was found.

Key Points

  • Swedbank Lithuania has partnered with EarthBank to pilot the delivery of carbon and climate reporting for corporate and SME banking customers, which can open the door to sustainable finance opportunities

Swedbank is active in a number of strategic forums that collaborate to promote sustainable development in the financial sector. The bank is a part of multiple commitments, networks and partnerships stated below: 


  • Equator Principles
  • Principles for Responsible Banking (PRB)
  • Science-Based Targets initiative
  • Task Force on Climate-related Financial Disclosures (TCFD)
  • UN Women’s Empowerment Principles
  • UN Global Compact
  • UN Guiding Principles on Business and Human Rights
  • Climate Action 100+
  • Finance for Biodiversity 
  • International Corporate Governance Network (ICGN)
  • Principles for Responsible Investments (PRI) 
  • Networks
  • Bankers’ associations in Sweden, Estonia, Latvia and Lithuania.
  • Energy Efficiency Financial Institutions Group (EEFIG)
  • EU Diversity Charter and Diversity Charter in Estonia, Latvia and Lithuania
  • European Savings and Retail Banking Group Sustainable Task Force
  • ICC Business Charter for Sustainable Development
  • Institute for Sustainability and Corporate Social Responsibility in Latvia
  • Lithuanian Association of Responsible Business
  • Nordic CEOs for a Sustainable Future
  • The Swedish Association for Sustainable Business (NMC)
  • Swedish Bankers’ Association’s Sustainability Council and Sustainability Committee
  • Swedish banking sector’s (employer association BAO and trade union
  • Finansförbundet) Central Gender Equality and Diversity Committee
  • Swedish National Advisory Board for Impact Investing (NAB)
  • UN Environmental Programme for the Financial Sector (UNEP-FI)
  • UN Global Compact’s Sustainable Ocean Business Action Platform in Norway 


  • Swish – payment processing
  • Bankgiro – a real-time clearinghouse for mass payments in Sweden
  • Gigstr – “Switch Jobs” initiative where companies can share employees
  • Minna Technologies – subscription service through mobile app
  • Meniga – mobile service that empowers people to manage their personal finances
  • Asteria – a digital cash flow and decision-making tool for small to mid-sized companies
  • Kaching – a cloud-based, mobile and simple payment solution for merchants
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