Sampo Group’s environmental impact in 2022

The Sampo Group companies are conscious of their impact on the environment and seek ways to reduce their carbon footprint.

GHG emissions

Sampo Group measures the environmental impact of its own operations by calculating GHG emissions annually. The emissions are reported in accordance with the Greenhouse 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 2022, Sampo Group’s total GHG emissions from its own operations were 20,840.1 tonnes, which equals 1.57 tonnes per employee. Scope 1 emissions were 5.7 per cent, Scope 2 emissions were 19.5 per cent, and Scope 3 emissions were 74.8 per cent of the total. Most of the emissions originated from business travel, employee commuting and remote working, and electricity, with the shares being 28.5 per cent, 26.5 per cent, and 14.4 per cent, respectively.

In 2022, Sampo Group’s GHG emissions almost doubled compared to the previous year. The results were impacted by the inclusion of If’s Baltic operations into calculations, a significant increase in business travel as COVID-19 restrictions were lifted, and improved reporting on Scope 3 categories. Reporting on Scope 3 categories such as waste, food services, other goods and services, business travel by taxi, paper consumption, IT equipment, and employee commuting and remote working was developed to better align reporting across the Group, and especially employee commuting and remote working affected the total GHG emissions. Without these additions, Sampo Group’s total emissions would have been 14,334.8 tonnes, which would have entailed a 34.7 per cent increase in total emissions from 2021.

Source of GHG emissions
Sampo Group, 2022

 

Science-based climate targets

If, Topdanmark, and Hastings have all committed to the Science Based Targets initiative (SBTi), which drives ambitious climate action in the private sector by enabling companies to set science-based climate targets for the reduction of GHG emissions. Following the commitment, companies have 24 months to develop targets, submit them to the SBTi for validation, and communicate them externally. If’s targets will be submitted to the SBTi for validation later this year. Topdanmark and Hastings are currently working on targets to be validated in 2024.