Climate targets for Nykredit's CO2 emission and activities
Climate and environmental challenges have become a main topic on society's agenda. In Energy Agreement 2020, a broad majority in the Danish Parliament has decided to meet these challenges with a fundamental change of Denmark's resource consumption. The Energy Agreement and the related energy targets also consider aspects such as building stock, energy labelling, funding of energy renovation and property valuations.
Considering Nykredit's market share of the Danish mortgage market of around 45%, future measures in the construction area will significantly impact Nykredit's activities as well as our customers' financial situation. Nykredit therefore wishes to contribute to meeting the challenges of the coming years – by providing support for the solutions needed by society as well as changing our own conduct.
As a result, Nykredit has set a climate and environment strategy up to 2020, focusing on both Nykredit's activities and a reduction of Nykredit's own CO2 emission.
Reduction of own CO2 emission
Nykredit intends to boost internal energy efficiency by combining reductions in energy consumption with the establishment of renewable energy systems such as solar cells. Finally, we are in the process of reducing emissions from transport.
The objective of our internal efforts is to achieve an absolute reduction of 65% of Nykredit's total CO2 emission by end-2020. Transport will account for an 8% reduction and internal efficiencies and renewable energy systems for 32%. Via our business initiatives, Nykredit will underpin the Energy Agreement's target of more renewable energy in the Danish energy supply network. The contribution from Energy Agreement 2020 will be in the range of a 25% reduction of Nykredit's total CO2 emission relative to the 2012 levels.
In the customer area Nykredit will, by implementing own initiatives and by joining forces with key providers in the area, incorporate climate and environmental aspects as a natural part of our business activities. Our advisory services and knowledge relating to climate and environmental parameters will be improved, and climate and environmental aspects will play an increasing role in valuations.
We know that climate and environmental aspects are complex. The strategy therefore primarily involves setting an overall policy, which will be delivered in the form of concrete climate and environmental projects once we have sufficient experience and data and new opportunities for such projects arise.