Handelsbanken to set science-based targets

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Handelsbanken takes another step towards the goal of net zero emissions of greenhouse gas and joins the Business Ambition for 1.5 ° C. This means that we undertake to set science-based targets in line with what is required to meet the 1.5-degree goal using the framework set by the Science Based Targets initiative (SBTi).

The business community and the financial industry play an important role in the work to achieve net zero emissions of greenhouse gas. Earlier this year, Handelsbanken presented several measurable sustainability goals, including a climate goal to achieve net zero emissions as soon as possible, but no later than 2040. By joining the Business Ambition for 1.5 ° C, we undertake to submit scientifically based climate goals for validation by the Science Based Target initiative (SBTi), this includes setting intermediate goals. The purpose is to ensure that our climate work contributes to limiting global warming to 1.5 degrees, which we are convinced is best for our customers, the communities we operate in and thus also for us at Handelsbanken.

"Handelsbanken has an ambitious long-term climate goal, what is currently missing are the milestones we need to reach on our way there. Now we undertake to do just that, committing to setting reduction targets for 2030 that are in line with the 1.5-degree goal. Our ambition is to do so during the upcoming year and so continue our journey towards net zero. Hopefully this can also inspire others to raise their ambitions as this is not a journey we can take alone, we need to work together with our customers in order to achieve results", says Alexander Campiglia Hedvall, climate strategist at Handelsbanken.

The SBTi is a partnership between CDP, the United Nations Global Compact, World Resources Institute (WRI) and the World Wide Fund for Nature (WWF). The SBTi call to action is one of the We Mean Business Coalition commitments.