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Latest corporate responsibility news and highlights from Sampo Group.

27 April 2021

Sampo Group’s Environmental Impact in 2020

The Sampo Group companies work to reduce the environmental impact of their own operations. Each Group company has its own environmental principles and targets related, for example, to reducing energy consumption, increasing recycling, and working with suppliers and other stakeholders to contribute to the sustainable development of society.

GHG Emissions

Group-level GHG emissions have been calculated and disclosed since 2019. The emissions are reported in accordance with the Green House Gas Protocol. Scope 1 includes direct emissions from operations that are owned or controlled by the reporting company such as 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 2020, Sampo Group’s total GHG emissions from own operations were 11,326.8 tCO2e, which equals 1.26 tCO2e per employee. Scope 1 emissions were 13.4 per cent, scope 2 emissions were 25.5 per cent, and scope 3 emissions were 61.1 per cent of the total. Most of the emissions originate from business travel, electricity, and IT and cloud services, with the shares being 31.4 per cent, 18.8 per cent, and 14.5 per cent, respectively. The carbon footprint of investments is calculated separately, more information can be found here.

GHG emissions decreased by 31 per cent in 2020, mainly due to the COVID-19 pandemic. The biggest impact was on Scope 3 emissions, as business travel was reduced to a bare minimum.

Carbon Offsetting

If, Mandatum Life, and Sampo plc offset the GHG emissions arising from the companies’ own operations by supporting Gold Standard VER projects that enable global collaboration in funding and implementation of GHG emission reduction projects in developing countries.

In 2020, the companies offset the GHG emissions arising from their own operations through a project focusing on access to safe water in Cambodia. The project sells locally made ceramic water purifiers, providing clean water to communities in Cambodia. With a purifier at home, families no longer need to boil their water to make it safe to drink. This reduces indoor air pollution from wood burning, decreasing household fuel costs and reducing pressure on Cambodia’s vulnerable forests. The project supports UN Sustainable Development Goals 1, 3, 5, 6, 8, 13, and 15.

More information is available in the corporate responsibility reports at

Sampo Group’s efforts to promote sustainable consumption and environmental actions in its operations contribute to the UN Sustainable Development Goals 12 and 13. Read more about Sampo Group’s impact on the SDGs here.


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8 March 2021

Net Impact of Sampo Group

At the end of 2020, Sampo Group measured the Group’s net impact using Upright Project’s net impact model. The model measures a company’s positive and negative impacts on the society, knowledge, health, and environment. The aim was to understand the net sum of the costs and gains created by Sampo Group.

The scope of the study was Sampo Group (If, Topdanmark, Hastings, and Mandatum Life) excluding Sampo plc, investments, and associated companies. The size of the different Group companies was taken into account when calculating Sampo Group’s net impact.

The net impact is not static, and even small impacts can be accentuated due to changes in the world or stakeholder values.

Results of the Analysis

The analysis highlighted that with insurance services, a large portion of the impact is driven by the industries, services and products being enabled.

Society: Certain basic insurance services such as home and health insurance are considered a crucial part of societal infrastructure as they allow people to feel secure about their assets and well-being. Additionally, Sampo Group contributes through paying taxes and providing employment.

Knowledge: Human capital is a limited resource in Upright’s model. Sampo Group’s negative impact in the knowledge category is due to the use of scarcely available human capital in the form of highly skilled employees. On the positive side, the positive knowledge creation and distribution are impacts of risk and loss prevention consulting.

Health: Sampo Group contributes to the prevention of diseases through the provision of health insurance. The increase in meaning and joy stems from the peace of mind provided by insurance services in general.

Environment: All businesses cause some emissions. While Sampo Group’s services themselves do not use many environmental resources, the company inherits some of the negative environmental impacts of the energy-intensive industries it helps enable. A focus on specific types of insurance drives the development of net impact over time.

Net Impact Profile of Sampo Group, 2020


Changes in the Results When Stress-testing Under Different Global Scenarios

Even if a company makes no changes internally, the net impact may be altered due to external changes. As a part of the analysis, Sampo Group’s net impact was tested against three global scenarios: rapid warming, digital leaps, and pandemics. Scenario modelling showed that Sampo Group’s net impact was relatively resistant to the hypothesized scenarios. Only within the rapid warming scenario does Sampo Group’s net impact score drop.

Net Impact Profile of Sampo Group Under Different Global Scenarios, 2020


Details About the Scenarios

Rapid warming scenario: The equilibrium climate sensitivity would turn out to be at the high end of the range estimate by IPCC and this would quadruple the damages caused by global warming. The economic cost of GHG emissions and the benefits of GHG emission reductions caused by the private sector globally would be pronounced by 4 times. The economic costs related to biodiversity and freshwater use would be pronounced by 2 times, given that they are highly correlated with increases in GHG emissions. The global markets of low-carbon technologies and renewable energy sources would double, while the global economy would grow 2 per cent per annum.

Digital leaps scenario: The global digitalization, AI, and automatization accelerate significantly, and jobs estimated by OECD to be at high risk of being automated would be lost, representing 46 per cent of all jobs. Both growth and economic benefits created by knowledge intensive companies would outpace the rest of the economy. Jobs estimated by OECD to be at high risk of being lost would be lost without replacement, reducing companies' jobs-related economic benefits in proportion to jobs lost and knowledge-related economic benefits that the private sector creates would be pronounced by 2 times. The global markets of products and services building knowledge infrastructure would grow twice as quick as the rest of the economy and hence double by 2030.

Pandemics scenario: Changes witnessed during the global COVID-19 crisis in 2020 become a continuing reality rather than an individual shock. Preventing and treating diseases takes a larger role in society and revenue gains and losses reported in certain industries during the COVID-19 crisis remain permanent. Modern knowledge infrastructure plays a critical role in making work and social interaction possible. Both costs and benefits that the private sector globally creates related to treating and preventing diseases would be pronounced by 2 times, the benefits relating to knowledge infrastructure would be pronounced by 2 times, and revenue gains and losses that have been reported as a result of current COVID-19 crisis would remain permanent, while the global economy would contract by 5 per cent by 2030.