SEB Sets Net-zero Aligned Targets For Heavy Vehicle Manufacturing Sector - Quick Facts

(RTTNews) - SEB has set targets for the heavy vehicle manufacturing sector, which covers lending commitments to the heavy vehicle manufacturing sector and is set against a 2022 baseline. The target is to increase the share of Zero Emission Vehicles in new sales to 35 percent by 2030 from 0.5 percent in 2022.

Also, SEB has revised target for the oil & gas sector and now targets a reduction in absolute financed emissions of 70 percent by 2030, compared with 55 percent previously.

In October 2022, SEB set net-zero aligned 2030 interim targets for five sectors in its credit portfolio. The company stated that 77 percent of its proforma financed emissions for 2020 are now covered by such targets.