Target: 50-70% reduction in CO2e footprint* from investments in 2030 compared to the CO2e footprint in 2020
Responsible investment. It sounds easier than it is. But that will not make us give up without trying. Because a step no matter how small is still a step.
The target to halve the CO2e emissions from companies in the Bank’s investment portfolio is ambitious. Fortunately there are several different dials we can adjust to reach our target.
One of these dials is “active ownership” where we attempt to impact companies’ development through engagement and voting at general meetings.
Another dial is divestment. However we are basically of the opinion that selling off polluting companies in important industries such as the cement and steel industries will not contribute effectively to reducing de facto CO2e emissions worldwide. Instead we believe that more will be gained by helping to move production in a more sustainable direction.
At present data on CO2e footprints is most advanced within listed shares and corporate bonds. These two asset classes are therefore initially included in the calculation of the Bank’s CO2e footprint. However data is improved on an ongoing basis and over time we expect to be able to include investments in government bonds and mortgage bonds.
* Whereas CO₂ only refers to carbon dioxide, CO₂e includes other greenhouse gases such as methane.