Climate change

Despite TF Banks small direct environmental impact, we aim to reduce our climate impact in relation to the Bank’s growth.

Reduce own climate impact

Despite limited direct environmental impact, TF Bank aims to contribute to the SDGs and reduce its environmental footprint. The Bank has a Sustainability policy that is regularly updated. This policy has been adopted by the Board of Directors and is accessible for all employees of the Bank. During the year, the Bank has taken steps to reduce its environmental footprint, including calculating its carbon footprint in collaboration with external consultants.

The indirect environmental impact occurs mainly through scope 3, specifically our suppliers’ energy usage. The Bank uses a cloud-based server solution that is considered more secure and is more energy efficient than having own servers. The server hall used is powered by 100% green electricity and is environmentally certified according to ISO 14001.

The calculation is based on the Greenhouse Gas protocol (GHG-protocol) and is estimated using the consolidation method with an operational control approach. The Bank’s climate impact has been calculated using the market-based method. Measurements have been made within scope 1 (refrigerants and service vehicles), scope 2 (electricity, district heating, and district cooling), and part of scope 3 (business travel and indirect life cycle emissions related to material emission sources).

TF Bank is also committed to continuously improving its climate impact data and transparency. The Bank plans to regularly update its sustainability efforts and share progress with stakeholders, ensuring continued alignment with legal environmental regulations.

As TF Bank’s operations are located in several countries, video conferencing opportunities have been prioritised in all branches to reduce the company’s environmental impact in the form of travel, and to facilitate meetings between the Bank’s various units.

In our offices, we ensure that we have well-functioning recycling procedures. Paper, cartons, toner and electronic equipment are sorted and left for recycling. Our office supplies are mainly purchased from environmentally certified suppliers and we strive to choose environmentally friendly products.

We consider it of utmost importance that our suppliers follow high ethical standards and act responsibly which is why we have adopted our Code of Conduct for Suppliers. The document is distributed to suppliers who then will approve our Code of Conduct for Suppliers or demonstrate that they have an internal equivalent Code of Conduct.

Digital processes

TF Bank is on a digitalisation journey continuously monitoring and reviewing new digital solutions that contribute to reducing its environmental footprint while improving the customer experience and making developments to internal processes thereafter. The majority of new lending takes place digitally through loan intermediaries on all channels. By embracing cutting-edge technologies, such as AI and machine learning, the Bank is not only streamlining operations but also ensuring that its products and services remain sustainable. We strive to reduce our paper use through several different initiatives. We encourage our customers to sign loan agreements electronically and have come a long way in this work in all markets. The percentage of invoices sent digitally amounted to 89 % during 2024.

Both in our marketing and in our administration, we use Nordic eco-labelled or FSC-labelled products, both in terms of paper, envelopes and cartons. In the Ecommerce Solutions segment, we offer our partners an AI tool, Avarda Return Optimiser, to reduce their return rates, which in turn contributes to reduced transports.