Sampo Group’s environmental impact in 2021
The Sampo Group companies are conscious of their impact on the environment and are committed to tackling the challenges of climate change by assessing and improving their operations and setting targets to reduce emissions.
GHG emissions
Sampo Group measures the environmental impact of its own operations by calculating GHG emissions. The emissions are reported in accordance with the Green House Gas Protocol. Scope 1 includes direct emissions from operations that are owned or controlled by the reporting company such as onsite energy use and fuel in company-owned or leased vehicles. Scope 2 includes indirect GHG emissions from the generation of purchased or acquired electricity, heating, or cooling consumed by the reporting company, and Scope 3 includes indirect emissions that occur in the company’s value chain.
In 2021, Sampo Group’s total GHG emissions from own operations were 10,641.3 tonnes, which equals 0.89 tonnes per employee. Scope 1 emissions were 17.6 per cent, scope 2 emissions were 23.1 per cent, and scope 3 emissions were 59.3 per cent of the total. Most of the emissions originate from business travel, IT and cloud services, and electricity, with the shares being 25.8 per cent, 20.8 per cent, and 18.8 per cent, respectively. The carbon footprint of investments is calculated separately. More information on the carbon footprint and climate impact of investments can be found here.internal link
Source of GHG emissions, Sampo Group 2021
In 2021, the increase in Scope 1 emissions was due to the inclusion of Hastings in Sampo Group’s GHG calculations for the first time. In addition, the increase was driven by Topdanmark’s increased consumption of natural gas due to changes in ventilation to decrease the spread of the coronavirus in the company’s headquarters. The reduction of Scope 2 emissions was a result of lower electricity consumption and heating and cooling at If, Topdanmark, and Mandatum compared to 2020. During 2021, air travel continued to decrease, which was the main reason for the lower Scope 3 emissions compared to the previous year. The decrease is still attributed to the pandemic, but new practices using digital platforms for meetings may influence travel patterns in the future.
In the future, the Group companies aim to improve disclosure on Scope 3 emissions. In 2021, employee commuting was included for the parent company, Sampo plc, for the first time. In 2022, the aim is to expand reporting on employee commuting to include all Group companies.
Emission reduction targets
Emissions reduction targets are set on subsidiary level, in order to acknowledge the characteristics of each individual company and its ability to set targets. Hastings, for example, is a CarbonNeutral® company and Topdanmark has set a goal to be carbon neutral by 2030. If has signed the Science-Based Targets initiative (SBTi) and committed to set science-based targets in accordance with the Paris Agreement to limit global warming to 1.5°C. The work to identify and set targets has already begun at If.