Nykredit publishes climate targets for its loan portfolio

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Today, Nykredit, financial mutual and largest lender in Denmark, publishes the first 2030 climate targets for its loan portfolio and joins the Science Based Targets initiative.

Nykredit has now set specific emissions targets for owner-occupied dwellings and real estate financed by Nykredit loans. These targets are the first of their kind in Denmark. Nykredit is the first systemically important financial institution (SIFI) in Denmark to join the Science Based Targets initiative (SBTi), which provides methodologies for and validates corporate climate targets. Nykredit has also joined the Net Zero Banking Alliance (NZBA).

As a society we share a common task: To make Denmark greener. Nykredit is owned by its customers and is the largest lender in Denmark, and it is only natural for us to join in on this common task. In a financial undertaking such as Nykredit, a serious and ambitious commitment to the green transition should be underpinned by specific targets that cover the entire Group. That is why we are now publishing emissions targets for our portfolios of owner-occupied dwellings, real estate, etc. At the same time we are joining SBTi to obtain target validation according to international standards," says Group Chief Executive Michael Rasmussen.

A target has been set for a 75% reduction in emission intensity of the portfolios of owner-occupied dwellings and residential real estate by 2030 relative to 2021. Combined, the two portfolios comprise all types of housing occupied by the Danes, ranging from owner-occupied dwellings and holiday homes to public housing, cooperative housing and private rental properties.

A target of a 65% reduction by 2030 relative to 2021 has been set for the portfolio of commercial real estate. And for the agriculture portfolio, the target is a 45-55% reduction by 2030 relative to 2021. Emissions from Nykredit's own operations should be reduced by 85% by 2030 relative to 2021. On the investment front, Nykredit set a climate target in 2021 of a 60% reduction in emission intensity by 2030 relative to 2019.

As a society we share a common task: To make Denmark greener. Nykredit is owned by its customers and is the largest lender in Denmark, and it is only natural for us to join in on this common task.

Michael Rasmussen, Group Chief Executive

The new targets build on the fact that Nykredit has already succeeded in reducing emissions from own operations by 80% since 2012 plus the long line of products and initiatives launched in recent years to make it easier and more affordable for our customers to make green choices.

Nykredit's climate targets are all included in the framework below, which also includes a number of supporting targets in addition to the emissions targets mentioned above. The framework provides an overview of emissions measured and dedicated focus areas in the green transition. The targets we are publishing today are described in more detail in the attached paper.

Our customers and staff should view the climate targets published today as a confirmation and clarification of our profound, long-term dedication to the green transition. Despite soaring inflation, the energy situation and general economic uncertainty, Nykredit as a business and society in general can and must nonetheless address the challenges of the green transition. This is why our focus now and many years ahead will be on supporting our customers' green transition – while of course being there for customers who need us in their current situation," Michael Rasmussen points out, and continues:

"We are aware that we cannot achieve the climate targets alone. The green transition is a team effort. We will do all we can and trust that other major market participants in Denmark will follow our lead, not least because we believe that customers, too, want to embrace the green transition. It is therefore our firm belief that the targets will be achieved.".

Read the full report here:

Corporate responsibility

Nykredit is the largest lender in Denmark, the largest lender to homeowners and one of the largest lenders to small and medium-sized businesses, the agricultural sector and the housing sector. As such, we have a special responsibility for creating value to our customers and to society.

Sustainable development

We will do our best to help solve the climate challenges and promote a greener Denmark. Read more about our work with sustainable housing, businesses, agriculture and investments here.


We report on our corporate responsibility and sustainability commitments once a year in connection with our annual financial reporting. Our Corporate responsibility Report and other ESG-related reporting are available here.