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Danske Bank

Danske Bank is a multinational banking and financial services corporation with offices in Denmark, Norway, Finland, Sweden, Lithuania, Poland, the UK, the US, and India. It joined the Net Zero Asset Managers Initiative on 29 March 2021 and its initial target disclosure was published on 1 May 2022.

Initial Target Disclosure: May 2022

Percentage of assets covered by the Net Zero Asset Managers Commitment Statement

68% of total AUM (USD $84 billion)

Information on interim target(s) covering the proportion of assets to be managed in line with net zero



Portfolio decarbonisation reference baseline

Weighted Average Carbon Intensity (tCO2e / mUSD revenue) = 85.40


Engagement threshold baseline

No baseline performance as we will engage with all 100 companies regardless of historical engagement activities and/or the individual company’s current net zero alignment. Alignment tracking and assessment will constitute the fundament for the engagement target.



Engagement threshold target

Engagement with the 100 largest emitters by 2025


Portfolio decarbonisation reference target

50% reduction of the weighted average carbon intensity by 2030

GHG scopes included:

Scope 1 and 2. Scope 3 from 2023 onwards. However, Scope 3 is already considered in relation to the engagement target, where we use a sectoral approach and consider those scopes of emissions that are material from an industry value chain perspective, following best practice such as the Transition Pathway Initiative. With the top 100 emitters we seek to increase the number of companies aligned or committed to align with the Paris Agreement by engaging on gaps we identify through sector-based assessment.


Net Zero Asset Owner Alliance Target Setting Protocol

Net Zero Investment Framework


We have chosen to adopt the IPCC SR1.5 P2 pathway as the underlying scientific framework, supported by the IEA’s Net Zero 2050 pathway

Additional information

Proportion of AUM committed:

The proportion covers investment products (funds and managed accounts). The reason for omitting discretionary mandates with asset owners at this stage is that it must be based on specific customer demands for each mandate. The plan for engaging with asset owners on this topic is yet to be defined.

Policy on coal and other fossil fuel investments: