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Avanza
Avanza Bank Holding |
  SEK |  %   SEK
Avanza Bank Holding |
  SEK |  %   SEK

Sustainability targets

We have concrete targets for our sustainability work based in part on the Paris Agreement and the UN’s Sustainable Development Goals. The targets are aimed at net zero emissions, increasing gender equality in customers’ savings, and strengthening the sustainability rating of  our customers’ investments.

Net zero emissions

Avanza is a climate smart organisation with an overarching target to reach net zero emissions. Each year a climate report is compiled with the help of independent calculation tools based on the Greenhouse Gas Protocol (GHG Protocol). The report includes Scope 1, Scope 2 and, most importantly, Scope 3 emissions. Our 2021 emissions amounted to 366 tonnes CO2e, with offsets also amounting to 366 tonnes CO2e.

In spring 2022, Avanza became a signatory to Business ambition for 1.5°C. This means we are committing to setting science based climate targets that align with the Science Based Targets initiative’s (SBTi) 1.5°C. For more on science based targets, visit https://sciencebasedtargets.org/

By signing Business ambition for 1.5°C and SBTi, we pledge to: 

  • Set science based climate targets aligned with the Paris Agreement within two years. (The aim is to set the targets in 2023.)
  • Halve our GHG emissions by 2030.
  • Reduce our emissions to net zero by 2045. (We plan to set an earlier target date.)

SBTi is a partnership between the CDP, UN Global Compact, WRI and WWF. The scientific data is produced by the IPCC and IEA, among others. By signing Business Ambition for 1.5 °C, we also become part of the UN-led initiative Race to Zero. For more on the Race to Zero Campaign, visit https://unfccc.int/climate-action/race-to-zero-campaign

Strengthen the sustainability rating of our customers’ investments

Avanza is a platform for savings and investments. We don’t offer advice and, except within Avanza Fonder, don’t make any of our own investments. All investment decisions are made by customers themselves and we only lend for residential homes as well as margin loans. We do make it easier for our customers to make sustainable investments, however, through concise information, decision support and education. We develop and continuously improve these tools, which will help us achieve the goal of strengthening the sustainability ratings of customers’ portfolios, as measured by Morningstar Sustainability Scores for funds. A weighted average of the sustainability risk of a fund’s holdings, ESG Risk Ratings range between 0 and 100, where lower is better and indicates lower sustainability risk. 0 indicates that a company has negligible ESG risk and 100 is the highest level of ESG risk. The score is computed by Sustainalytics and more than 10,000 companies the world over have an ESG Risk Rating. Ratings are updated monthly.

At this point, Avanza is only able to measure and monitor the sustainability risk in customers’ fund holdings.

Increase gender equality in savings

We work actively to reach broader target groups and promote savings among women. Today women save less, have less savings capital and begin saving later. We want to help change this. The share of women on Avanza’s platform today is 37 per cent, at the same time that the share of savings capital they hold is only 27 per cent.