The National Bank of Denmark published fourth quarter 2025 climate indicators showing that the Danish financial sector’s financed greenhouse gas emissions from investments in listed non-financial companies rose slightly to 11.3 million tonnes of CO2e in 2025. At end-2025, the sector held around DKK 2,200 billion of such investments. The increase versus 2024 was driven mainly by a larger share of investments in companies in the transport and materials sectors, although financed emissions have declined overall since 2018. The release notes that financed emissions are highly concentrated, with around 6 per cent of the sector’s investments accounting for half of total financed emissions, meaning small portfolio shifts can materially change the aggregate figure. The indicators cover insurance and pension companies, investment funds, banks and mortgage credit institutions, and measure financed scope 1 and 2 emissions from listed equities and bonds only. Bank lending and unlisted equities and bonds are excluded for now, and the National Bank of Denmark said coverage will be expanded gradually as additional data become available. The 2025 figures are preliminary.
National Bank of Denmark 2026-05-07
National Bank of Denmark reports Danish financial sector financed 11.3 million tonnes of CO2e in 2025 as climate footprint rose slightly
The National Bank of Denmark published preliminary Q4 2025 climate indicators showing financed greenhouse gas emissions from Danish financial sector investments in listed non-financial companies rose slightly to 11.3 million tonnes CO2e on holdings of about DKK 2,200 billion, mainly due to greater exposure to transport and materials, though emissions remain below 2018 levels. Around 6 per cent of investments account for half of financed emissions. Current indicators cover scope 1 and 2 emissions from listed equities and bonds of insurance and pension companies, investment funds, banks and mortgage credit institutions, with bank lending and unlisted instruments to be added as data improve.