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Handelsbanken
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Exponential Framework
Standing firm in uncertain times - delivering world-leading results in climate solutions enablement
Handelsbanken's Leadership in the Exponential Framework
Where Handelsbanken Can Have the Biggest Impact: Pillar 4: Climate Finance (80%)
As a bank, Handelsbanken's operational footprint is tiny (2,449 tCO₂e). Their climate impact is 18,800x larger through what they finance (46M tCO₂e). With the lowest financed emissions intensity of Swedish Big 5 banks (3 tCO₂e/MSEK - 84% lower than SEB) and complete fossil fuel exit since 2019, capital allocation decisions are their climate lever.
Highlighted areas show where Handelsbanken demonstrates climate leadership
Click any highlighted category to see evidence
Financial Services
Banks, asset managers, insurers
Mobilize Finance & Investment
Green bonds, climate finance, capital allocation
No secondary pillar
(requires ≥15% weight)
Why These Weights?
As a bank, Handelsbanken's climate impact is almost entirely through financed emissions (P4: 80%). Their mortgage portfolio alone represents 700x their operational footprint. Green mortgages (SEK 31.8B) and sustainable lending are the primary levers for climate impact.
Climate Performance Across Five Pillars
Detailed assessment of commitment and reporting across each transformation pillar
Cut Operational Emissions
Commitment
50% Scope 1+2 reduction by 2030 - 100% renewable electricity since 2018
- 50% absolute reduction by 2030 (baseline 2021)
- 100% renewable electricity since 2018
- Energy efficiency improvements across branches
Progress & Evidence
Total operational emissions 2023: 2,449 tCO₂e - one of lowest among Swedish banks
- Scope 1: 1,200 tCO₂e (heating, vehicles)
- Scope 2: 1,249 tCO₂e (market-based)
- 100% renewable electricity since 2018
- Lowest operational footprint among Swedish Big 5
Decarbonize Value Chain
Commitment
Complete fossil fuel exit - strongest policy among Swedish banks
- No financing of fossil fuel extraction, production, or infrastructure
- Exit completed 2019 - 5 years ahead of peers
- Exclusion covers coal, oil, gas across entire value chain
Progress & Evidence
Financed emissions: 46M tCO₂e - but lowest intensity of Swedish Big 5 at 3 tCO₂e/MSEK
- Financed emissions: 46M tCO₂e (2023)
- Intensity: 3 tCO₂e/MSEK - 84% lower than SEB
- Zero fossil fuel exposure since 2019
- Real estate focus: 82% of SBTi targets coverage
Build & Scale Solutions
Commitment
Green financial products enabling customer decarbonization
- Green mortgages for energy-efficient homes
- Green bonds financing renewable energy and buildings
- Sustainability-linked loans with climate KPIs
Progress & Evidence
Green bonds avoided >170,000 tCO₂e in 2024 (25% increase vs 2023)
- Green bonds: >170,000 tCO₂e avoided (2024)
- Green mortgages: Growing portfolio
- Sustainability-linked loans: Climate KPIs
- 25% increase in avoided emissions vs 2023
Mobilize Finance & Investment
Commitment
Net Zero 2040 - most ambitious target among Swedish banks
- Net Zero by 2040 across all financed emissions
- SBTi targets covering 82% of loan portfolio
- NZBA member with interim targets
Progress & Evidence
SBTi targets cover 82% of loan portfolio (real estate focus)
- Net Zero 2040 target (5 years ahead of peers)
- SBTi coverage: 82% of loan portfolio
- NZBA member with interim milestones
- Lowest financed emissions intensity: 3 tCO₂e/MSEK
Shape Policy & Narrative
Commitment
Active in banking sector climate initiatives and policy advocacy
- NZBA member advocating for sector-wide standards
- TCFD-aligned reporting since early adoption
- Support for EU sustainable finance taxonomy
Progress & Evidence
TCFD-aligned reporting, CSRD/ESRS compliant
- NZBA member
- TCFD-aligned reporting
- CSRD/ESRS compliant
- Support for EU sustainable finance taxonomy
Company Details
Legal entity information and industry classification
Company Details
Industry Classification (GICS)
Legal Entity Identifier (LEI)
Wikidata
LinkedInLinkedIn Profile
We are Europe's safest commercial bank, with roots in local communities throughout Sweden, the Netherlands, Norway, and the UK. Across a range of digital and physical meeting places, our branch teams offer ‘up close and personal’ financial advice and solutions, based on customers’ individual needs. In this way, we aim to forge lasting relationships with satisfied private and corporate customers, helping us grow steadily through word of mouth. Our way of doing business is based on trust and respect, both for our customers and our 12,000 employees. Wherever colleagues move around our business, they enjoy everyday responsibility and the power to decide on the questions they are closest to - all within an open, cooperative culture. By running our bank prudently, we can contribute to the financial strength of our customers, employees and wider society, whatever the economic conditions. And by using our influence as a lender, an investor and a global business, we can make wide-ranging difference to the world around us. #banking #financialservices
Sources & References
Data sources and documentation supporting this profile
External Climate Data Sources
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