Kommunalbanken AS
Kommunalbanken AS, commonly referred to as KBN, is a leading financial institution headquartered in Norway. Established in 1999, KBN primarily serves the public sector, providing financing solutions tailored for municipalities and county authorities across the country. With a strong focus on sustainable development, the bank has positioned itself as a key player in the Norwegian financial landscape. KBN offers a range of core services, including long-term loans and financial advisory, distinguished by its commitment to low-cost funding and risk management. The bank's unique approach to financing public projects has earned it a reputation for reliability and efficiency. As a result, Kommunalbanken AS has achieved significant milestones, solidifying its market position as a trusted partner for local governments in Norway.
DitchCarbon Score
How does Kommunalbanken AS's carbon action stack up? DitchCarbon scores companies based on their carbon action and commitment to reducing emissions. Read about our methodology to learn more.
Industry Average
Mean score of companies in the Financial Intermediation industry. Comparing a company's score to the industry average can give you a sense of how well the company is doing compared to its peers.
Industry Benchmark
Kommunalbanken AS's score of 44 is higher than 69% of the industry. This can give you a sense of how well the company is doing compared to its peers.
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Kommunalbanken AS's reported carbon emissions
In 2023, Kommunalbanken AS reported total carbon emissions of approximately 7,689,000 kg CO2e. This figure includes 8,000 kg CO2e from Scope 1 emissions, 3,572,000 kg CO2e from Scope 2 emissions, and a significant 7,659,000 kg CO2e from Scope 3 emissions, primarily attributed to business travel. The total emissions for 2022 were about 4,321,000 kg CO2e, indicating a substantial increase in emissions year-on-year. The bank's emissions profile shows a notable reliance on Scope 3 emissions, which highlights the impact of business travel on their overall carbon footprint. In contrast, Scope 1 and 2 emissions combined accounted for approximately 3,580,000 kg CO2e in 2023, reflecting a shift in focus towards indirect emissions. Despite the increase in total emissions, there are currently no publicly disclosed reduction targets or initiatives from Kommunalbanken AS aimed at mitigating their carbon footprint. The absence of specific climate pledges or science-based targets suggests that the bank may need to enhance its climate commitments to align with industry standards and expectations for sustainability. Overall, Kommunalbanken AS's emissions data underscores the importance of addressing both direct and indirect emissions, particularly in the context of their operational practices and business travel policies.
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| 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | |
|---|---|---|---|---|---|---|
| Scope 1 | - | 000,000 | 00,000 | 00,000 | 00,000 | 0,000 |
| Scope 2 | 57,210 | 0,000,000 | 0,000,000 | 0,000,000 | 000,000 | 000,000 |
| Scope 3 | - | - | - | - | - | 0,000,000 |
Industry emissions intensity
Location emissions intensity
Reduction initiatives & disclosure networks
Companies disclose and commit to reducing emissions to show they are serious about reducing emissions impact over time. They can also help a company track its progress over time.
Kommunalbanken AS is not participating in any of the initiatives that we track. This may change over time as the company engages with new initiatives or updates its commitments. DitchCarbon will update this information as it becomes available.
