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 greenhouse gas (GHG) emissions. Sampo Group’s targets were validated by the SBTi in November 2024.

Sampo Group 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 a voluntary SBT for suppliers at the subsidiary-level.

Sampo Group reports on its GHG emissions and the progress against the SBTs annually in the Group’s sustainability statement. According to the legislation, the Group’s audit firm assures the 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.
- Result in 2025: -55.8%

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 the use of office space, and transitioning car fleet to electric and hybrid vehicles.

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 and 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.
- Result in 2025: 2.00°C

Align its Scope 1, 2 and 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.
- Result in 2025: 2.35°C
Reduce its real estate direct investment and corporate loan portfolio GHG emissions 57.7 per cent per square meter by 2029 from a 2022 base year.
- Result in 2025: -42.3%

Sampo Group’s measures to reach these targets include regular monitoring using screenings, engagement with investee companies, monitoring the percentage of investees who have set SBTs, developing 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, and the Group is committed to engage with its suppliers on environmental and climate matters. Supplier engagement offers a way to influence decarbonisation efforts within the supply chain when granular emissions data is challenging to track or unavailable. Claims operations conducted by suppliers represent a substantial proportion of an insurance company’s total emissions.

Sampo Group has set a voluntary climate target for its supply chain through If:

30 per cent of If’s suppliers by spend, covering purchased goods and services, will have science-based targets by 2028.
- Result in 2025: 23.8%

Sampo Group aims to reach its target by engaging with suppliers and encouraging them to set SBTs. The engagement actions focus especially on If’s suppliers in claims handling, as they represent a major part of supplier spend and emissions.

Underwriting

Sampo Group recognises the impact of the GHG emissions it enables through its underwriting activities. In 2025, the Group conducted a project with an external service provider to calculate its insurance-associated emissions in accordance with the standard developed by the Partnership for Carbon Accounting Financials (PCAF) to gain an understanding of the calculation process, data availability, and scale of emissions. Business lines in scope of the calculations following PCAF’s methodology were personal motor insurance and commercial insurance. The results are reported in Sampo Group’s 2025 Sustainability Statement.

Measuring insurance-associated emissions (to be accounted for separately from financed emissions under Scope 3, category 15) is a critical first step in identifying the carbon intensive hotspots of the Group’s underwriting activities and guiding decarbonisation efforts. Going forward, Sampo Group will develop the calculation process and data quality with the intent to report insurance-associated emissions annually. The Group also plans to align reporting on insurance-associated emissions in accordance with PCAF’s guidance. In the coming years, Sampo Group will assess the possibility of defining metrics and setting targets based on available methodologies and standards for financial companies.