Climate-related metrics and targets

Sampo Group strives to continuously develop metrics, targets, and reporting related to environment and climate.

Sampo Group is 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 (SBTs) for the reduction of GHG emissions. Sampo Group’s targets were validated by the SBTi in November 2024.

Sampo Group is a financial institution, and therefore follows the SBTi’s sector-specific guidelines for the financial sector. This means that it is mandatory to set SBTs for the GHG emissions arising from the company’s own operations (Scope 1 and Scope 2), as well as for GHG emissions arising from the company’s investments (Scope 3, category 15). In addition, Sampo Group has set voluntary SBTs for suppliers, as claims operations conducted by suppliers represent a substantial proportion of an insurance company’s total emissions.

Sampo Group reports on the progress against the SBTs annually in the Group sustainability statement.

Own operations

Regarding own operations, Sampo Group commits to:

Reduce absolute Scope 1 and 2 GHG emissions 42 per cent by 2030 from a 2022 base year.

Sampo Group’s actions for reducing Scope 1 and 2 emissions include purchasing renewable electricity, switching to biogas and district heating, changing to LED lighting, optimising office space, and transitioning its vehicle fleet to electric and hybrid cars.

Investments

The SBTi defines which asset classes should be covered by financial institutions’ targets, and which are optional or out of scope. Sampo Group’s portfolio targets cover 58 per cent of its total investment and lending by total assets as of 2022. As of that year, required activities made up 58 per cent of Sampo Group’s total investment and lending by total assets, while optional activities made up 6 per cent and out-of-scope activities made up 36 per cent.

Regarding investments,

Sampo Group commits to:

Align its Scope 1 + 2 portfolio temperature score by invested value of its listed equity, corporate bond, fund, ETF, and corporate loan portfolio from 2.78°C in 2022 to 2.09°C by 2029.
Align its Scope 1 + 2 + 3 portfolio temperature score by invested value of its listed equity, corporate bond, fund, ETF, and corporate loan portfolio from 2.91°C in 2022 to 2.29°C by 2029.
Reduce its real estate direct investment and corporate loan portfolio GHG emissions 57.7 per square meter by 2029 from a 2022 base year.

Sampo Group’s measures to reach these targets include regular internal monitoring, engagement with investee companies, development of a coal phase-out plan, and normal portfolio turnover.

In addition to the SBTs, Sampo Group calculates the carbon footprint of its direct equity and direct fixed income investments annually using data from an external service provider. The results are reported as part of Sampo Group's annual sustainability reporting.

Suppliers

Sampo Group is major procurer of goods and services, especially within claims operations. Supplier engagement offers a way to influence GHG emission reduction efforts within the supply chain when granular emissions data is challenging to track or unavailable. The targets focus on engaging a defined set of suppliers in the near-term to set their own SBTs on all applicable scopes and categories.

Science-based targets (suppliers)
Sampo Group

Scope	Targets
If	30 per cent of suppliers by spend, covering purchased goods and services, will have science-based targets by 2028.
Topdanmark	20 per cent of suppliers by spend, covering purchased goods and services, will have science-based targets by 2028.