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Own Operations

Sampo Group measures the environmental impact of its own operations by calculating GHG emissions. Emissions reduction targets are set on subsidiary level, in order to acknowledge the characteristics of each individual company and its ability to set targets. Hastings, for example, is a CarbonNeutral® company and Topdanmark has set a goal to be carbon neutral by 2030. If and Topdanmark have signed the Science-Based Targets initiative (SBTi) and committed to set science-based targets in accordance with the Paris Agreement to limit global warming to 1.5°C. The work to identify and set targets has already begun.

If, Hastings, Mandatum, and Sampo plc offset the emissions caused by their own operations through certified offsetting projects. All carbon offset projects contribute significantly also to the United Nations Sustainable Development Goals (UN SDGs).

If, Mandatum, Hastings and Sampo plc purchase electricity from renewable sources.

GHG Emissions by Scope, Sampo Group

tCO2e 2021 2020* 2019*
Scope 1 – Direct GHG emissions 1,867.5 1,515.0 1,534.1
Scope 2 – Indirect GHG emissions 2,458.5 2,886.6 2,929.0
Scope 3 – Other indirect GHG emissions 6,314.9 6,925.1 11,950.1
Scope 1-3 GHG emissions, total 10,641.3 11,326.8 16,413.2
GHG emissions per employee 0.89 1.26 1.86

* Excluding Hastings

GHG Emissions by Company, Sampo Group

tCO2e 2021 2020 2019
If 3,638.0 4,210.4 8,395.0
Topdanmark 5,471.5 6,022.7 7,082.3
Hastings 943.8 - -
Mandatum 508.7 976.6 571.1
Sampo plc 79.2 117.2 364.8
Sampo Group, total 10,641.3 11,326.8 16,413.2


Source of GHG Emissions, Sampo Group

% 2021 2020* 2019*
Business travel 25.8 31.4 57.8
Electricity 18.8 18.8 12.5
IT and cloud services 20.8 14.5 6.5
Stationary and mobile combustion 17.5 13.4 9.4
Fuel and energy related activities 10.6 11.4 7.5
Heating and cooling 4.4 6.7 5.3
Other 2.1 3.7 1.0

* Excluding Hastings

More information is available in the Group companies’ sustainability reports.


In October 2021, If committed to the Science-Based Targets initiative (SBTi). The SBTi drives ambitious climate action in the private sector by enabling companies to set science-based climate targets for the reduction of GHG emissions. Following the commitment, If will develop the targets, submit them for validation, and communicate them externally within 24 months. All targets must cover a minimum of five years and a maximum of 15 years from the date the target is submitted to the SBTi.

If is a financial institution, and therefore the company follows SBTi’s sector-specific guidelines for the financial sector. If’s investment portfolio represents a majority of If’s total GHG emissions, and If will set targets for aligning the investment portfolio with the Paris Climate Agreement.

Although it is not required by the SBTi, If will also set targets for its claims handling. Claims represent a substantial proportion of the company’s total emissions and, therefore, there is a possibility to make a difference by requiring and supporting the company’s claims contractors to work ambitiously on sustainability, e.g., by reducing material use, by repairing and reusing instead of using new parts, and by recycling.

In addition, If will develop targets for company vehicles, offices (energy and electricity use, waste, office supplies, water, and IT equipment) and business travel. These emissions represent a relatively small proportion of the company’s total emissions compared to investments and claims, but If wants to continue to do everything it can in this area too.


Topdanmark’s goal is to become carbon neutral by 2030. The scope includes the operation of the company buildings (consumption of natural gas, district heating, and energy consumption), business travel by car (use of company cars for business travel and use of private cars for business travel), and air travel. The baseline year for emissions is 2019. The goal has been approved by the company’s Board of Directors, and the responsibility for the actual implementation is with the Sustainability Steering Group.

Actions leading to carbon neutrality, Topdanmark

Focus area Action plan

Operation of the company’s buildings

  • A step-by-step plan for 2021–2025: Includes, for example, phasing out natural gas, concrete optimisation actions, and a change to carbon-neutral electricity.
  • An optimisation of the cooling system: Expected to give a GHG emission reduction of about 110 metric tonnes.
  • Shift to LED lighting: All light bulbs changed to LED bulbs on an ongoing basis.

Use of company cars (Topdanmark has leased approximately 100 cars)

  • Reduction of driving: hybrid workplace and continued use of digital collaboration tools.
  • Transition to low-emission cars: A gradual transition to hybrid or electric vehicles.

Use of private cars for business travel (primarily business-related driving in privately owned cars by the company’s salespeople and claims adjusters)
  • Reduction of driving: Hybrid workplace and continued use of digital customer meetings and introduction of digital tools for inspections of properties and buildings in connection with making an insurance contract or after a claim.
  • Change to low-emission cars: Yet to find a model for the transition to low-emission cars for privately owned cars, because the company has little influence on the choice of cars. The work continues in the years to come.

Air travel (primarily external IT developers employed by Topdanmark in connection with different projects, travel to investor meetings, other business meetings and conferences, etc.)

  • Reduction of air travel: Hybrid workplace and continued use of digital platforms.

Topdanmark committed to the Science-Based Targets initiative in May 2022. Topdanmark also supports the Business Ambition for 1.5°C campaign led by the SBTi in partnership with the UN Global Compact. Within the next 24 months, Topdanmark will set targets aligned with the Paris Agreement for investments, claims handling and own operations.


To further the company's commitment to reducing its carbon footprint, Hastings has an ambition to work towards being a net-zero company by 2050. Hastings will use science-based targets and the analysis phase will begin in 2022. The company has set a target to have reduced its GHG emissions by 50 per cent at the end of 2023 against its 2019 emissions and is on track to achieve this.

Hastings is a certified CarbonNeutral® organisation for 2020 and 2021 with all emissions calculations verified and offset through purchasing of various Gold Standard emission reduction projects. 

During 2021, Hastings extended the data captured across Scope 3 emissions to include usage of consumables such as paper, IT equipment, and business-related accommodation. This will enable a baseline to be captured in 2021 with the intention to set new reduction targets in 2022.

During 2022, Hastings will launch a sustainable travel plan to support and encourage employees to use more environmentally friendly methods of transport, achievable through working with local councils, public transport providers, and offering a range of discounts and benefits. The aim of the travel plan is to set a baseline for employee commuting emissions and to set targets to further reduce Scope 3 emissions.

Hastings has made a commitment to set science-based targets (SBTs) approved by the Science Based Targets initiative (SBTi) in accordance with the Paris Climate Agreement to limit global warming to 1.5°C. The commitment will see Hastings develop both short-term (5-10 years) and longer-term net-zero targets for both its own operations and investments over the next two years, with targets being disclosed to SBTi in 2024. Once the targets have been disclosed and validated, Hastings will regularly report on progress to SBTi and through annual sustainability reports.

Updated 22 Sep 2022