Climate strategy

The Danske Bank Group has set a goal of becoming carbon neutral by the end of 2009. To meet this objective, the Group developed a climate strategy in 2007.

In 2008, the Group updated the strategy with a view to taking the next steps in implementing short- and long-term climate targets. The strategy focuses on opportunities to confront the climate challenge in our financial business and operations as well as through dialogue with stakeholders. The strategy focuses on three areas where the Group can have a positive effect on climate: our own operations, our business and the dissemination of knowledge. In 2008, we launched several initiatives to reduce CO2 emissions in these three areas.

Carbon-neutral operations
As a financial services provider, our own carbon emissions are relatively low in comparison with many other industries. With more than 22,000 employees internationally, however, the Group’s total emissions are still significant. The emissions come primarily from energy consumption in offices and transport.

The Group aims for carbon neutrality through two activities:

1) Energy-efficient operations
We intend to reach carbon neutrality mainly by reducing the Group's own energy consumption. We will achieve this through an optimisation of energy consumption in buildings, the purchase of energy-efficient IT and office equipment, and improved energy efficiency from behavioural change and a reduction in business travel.

2) Offsetting emissions
Since it is not possible to operate a business without consuming a certain amount of energy, for example in heating, cooling and transport, it is not possible eliminate the Group's CO2 emissions entirely. The emissions we cannot eliminate by optimising our operations will be offset by the purchase of carbon credits for projects that guarantee a real reduction of CO2 emissions.

Towards a low-carbon economy
We believe that the financial services sector plays a vital role in providing the financial infrastructure to support a low-carbon economy. The Group therefore gives priority to developing new products and services that support innovation and the reduction of emissions.

Knowledge is the key to change
A transition to a low-carbon future demands first of all a change in our thinking and behaviour in our daily lives. As a large enterprise, the Danske Bank Group has the opportunity to engage many stakeholders and share knowledge about how to meet the challenge of climate change.