Swedish bank SEB has established a net zero-aligned 2030 target for the shipping sector, aligning with the Net Zero Banking Alliance’s goal. This alliance, comprising global banks, aims to transition the economy to net zero greenhouse gas emissions by 2050, representing over 40% of global banking assets.
SEB’s 2030 target for shipping mandates a 41% reduction in emission intensity compared to 2022 levels. This covers lending where ships serve as collateral, enabling emission monitoring at the ship level. The target evaluates emissions per freight capacity and distance traveled, encompassing all greenhouse gas emissions through a well-to-wake principle.
Hans Christian Kjelsrud, SEB’s head of shipping, emphasized the need for energy-efficient vessels, energy-saving technologies, and low or zero-carbon fuels. SEB has previously set net zero-aligned targets for six other sectors in its portfolio, covering 77% of financed emissions in 2022.Hans Beyer, SEB’s chief sustainability officer, stated the bank’s commitment to evaluating additional targets for other sectors.
Source: Splash247
