Danish pension provider, TopDanmark, has joined the Science Based Targets initiative (SBTi), an official, international alliance with the UN behind it, which helps companies ensure that their climate goals live up to the Paris Agreement.

The ambitious commitment entails that climate objectives must be formulated for everything that Topdanmark undertakes, such as investments, claims handling, products and day-to-day operations.

In addition, the obligation entails an independent check carried out by SBTi, which, on the basis of scientific methods, will assess whether the objectives and action plans are sufficiently ambitious and ensure that they are followed.
Commenting, TopDanmark CEO, Peter Hermann, said: “As a financial company, despite a low CO2 footprint in operations, we can easily contribute to CO2 emissions in society as a whole being reduced. In addition, both we as an insurance company and our customers greatly feel the consequences of climate change and the more violent weather.

“It obliges us to act and slow down the temperature rises, among other things by joining the SBTi, which means full integration of climate awareness in our business and strategy. The fact that we invite external experts to look into the seams is an ambitious step that will create more transparency around our work.”

Hermann also said that joining the alliance serves as an opportunity to invite its customers to contribute further by giving them the opportunity to choose more sustainable alternatives.

“This is especially true for our products and damage treatment, where there is a great potential for CO2 reduction. I hope other companies in the industry will also join SBTi as together we can make the biggest difference. Together, we can ensure transparency for our customers and give the outside world the opportunity to compare the initiatives across companies,” he added.

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