NIB Validates Ambitious Emission Reduction Targets with SBTi, Paving the Way for a Greener Future

NIB Validates Ambitious Emission Reduction Targets with SBTi, Paving the Way for a Greener Future

(IN BRIEF) The Nordic Investment Bank (NIB) has received official validation for its emission reduction targets from the Science Based Targets initiative (SBTi), confirming its alignment with a 1.5°C pathway. These targets, announced at COP28 in 2023, are part of NIB’s broader climate strategy designed to support decarbonisation in its Nordic and Baltic member countries. NIB has set sector-specific goals for financed emissions, covering 71% of its total lending and investments, and plans to reduce its own emissions (scope 1 and 2) by 57.6% by 2030. The bank is driving the transition to a low-carbon economy by providing tailored financial solutions to help clients reduce emissions and accelerate their green transitions.

(PRESS RELEASE) HELSINKI, 28-Feb-2025 — /EuropaWire/ — The Nordic Investment Bank (NIB), an international financial institution with focus on the Nordic and Baltic countries, has officially received validation for its near-term emission reduction targets from the Science Based Targets initiative (SBTi), reinforcing its commitment to sustainability and climate action.

At the COP28 summit in 2023, NIB introduced its climate strategy, which outlined science-based targets aimed at reducing emissions from both its financing activities and operations. These targets were designed to align with the objectives of the Paris Agreement and the EU’s neutrality goals, supporting the decarbonisation efforts of NIB’s Nordic and Baltic member countries.

With the targets now validated by the SBTi, NIB can confidently move forward in its efforts to limit global warming to 1.5°C. A summary of the validation is available on the SBTi website at sciencebasedtargets.org.

André Küüsvek, NIB’s President & CEO, commented, “The SBTi validation affirms that our 2030 targets are aligned with a 1.5°C pathway. This is a significant step in demonstrating our commitment to achieving meaningful emission reductions as part of our broader sustainability objectives.”

NIB’s primary impact stems from the emissions held in its financing portfolio—specifically, its financed indirect emissions (scope 3 emissions). The bank has established sector-specific targets for these emissions, covering 71% of its total lending and investments by financed emissions as of 2022. Additionally, NIB is committed to reducing its absolute scope 1 and 2 greenhouse gas emissions by 57.6% by 2030, using 2022 as the base year.

Luca De Lorenzo, Head of Sustainability & Mandate, highlighted, “NIB is playing a key role in the transition to a low-carbon economy, not only by supporting fast-growing sectors with proven green solutions but also by engaging with industries where low-carbon options are scarce and transformative change is necessary.”

De Lorenzo added, “Through our customized financial solutions, including sustainability-linked loans and expert advisory services, we empower our clients to accelerate their transition to a greener future while reducing emissions.”

The Science Based Targets initiative (SBTi) collaborates with leading organizations like the Carbon Disclosure Project, the United Nations Global Compact, the We Mean Business Coalition, the World Resources Institute, and the World Wide Fund for Nature (WWF) to develop standards, tools, and guidance for companies to set greenhouse gas reduction targets that will help limit global warming to well below 2°C, striving for net-zero emissions by 2050.

NIB is the international financial institution of Denmark, Estonia, Finland, Iceland, Latvia, Lithuania, Norway, and Sweden. The Bank finances projects that improve productivity and benefit the environment of the Nordic-Baltic region. The Bank is headquartered in Helsinki with a regional hub in Riga. NIB has the highest possible credit rating, AAA/Aaa, with S&P Global Ratings and Moody’s.

For more information, please contact
Luca De Lorenzo, Head of Sustainability & Mandate, +358 10 618 0297, luca.delorenzo@nib.int

Jukka Ahonen, Head of Communications, +358 10 618 0295, jukka.ahonen@nib.int

SOURCE: Nordic Investment Bank