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 68% 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 (with 162,110 kg CO2e attributed to market-based accounting), and a significant 7,659,000 kg CO2e from Scope 3 emissions, primarily from 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 data shows a clear trend of increasing emissions, with 2021 reporting approximately 913,000 kg CO2e, and 2020 at about 2,308,000 kg CO2e. Notably, in 2019, emissions peaked at around 13,125,000 kg CO2e. The data indicates that while Scope 1 and 2 emissions have been relatively stable, the dramatic rise in Scope 3 emissions, particularly from business travel, has significantly impacted overall totals. Currently, Kommunalbanken AS has not set specific reduction targets or initiatives, as indicated by the absence of documented reduction targets or commitments to the Science Based Targets initiative (SBTi). The lack of climate pledges further highlights the need for the bank to establish a clearer strategy for emissions reduction. Overall, while Kommunalbanken AS has made strides in reporting its emissions, the increasing trend, particularly in Scope 3 emissions, underscores the importance of developing robust climate commitments and reduction strategies to align with global climate goals.
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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.
