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Sustainability Report: Carbon-Neutral Danske Targets Electricity Cuts

The Danske Bank Group has set a 20 percent electricity reduction target, building on its second straight year of carbon neutrality.

The company is now planning to cut electricity by one-fifth by 2014, from 2009 levels, according to its annual corporate responsibility report.

It was carbon neutral in 2009 and 2010. Last year, Danske cut CO2 emissions from its operations by two percent, and made up for the rest through carbon credits.

“The rather small reduction was satisfactory considering the 15 percent reduction the Group achieved from 2008 to 2009,” the company said.

In 2010, the group’s total CO2 emissions were almost 55,000 tons. This includes 28,412 tons from electricity, 12,431 from heat, 3,857 from travelling by air and 3,353 from travelling by car.

The approval of a new ambitious environmental target to follow up the Group’s achievement of carbon neutrality: 20% reduction in electricity use from 2009 level by 2014.

The group uses G3 Sustainability Reporting Guidelines, self declared GRI level B.

The Danske Bank Group is the leading financial services provider in Denmark, according to the group. It has more than five million retail customers and 21,000 employees in 15 countries.

This animated chart shows how the company’s carbon output and neutralization compares with its emissions reductions over the past two years.

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