Business focus on sustainability
Energy Agency has not updated the emission factors
Realkredit Danmark is included in the Danske Bank
Group’s Sustainability Statement disclosed as part of the
management report of the Danske Bank Group’s Annual
Report 2024. Consequently, Realkredit Danmark does
not report separately on corporate responsibility.
Realkredit Danmark is required to include in its manage-
ment report a sustainability statement for the financial
year beginning 1 January 2025, and we have com-
menced the preparations for this reporting. The Danske
Bank Group’s Annual Report 2024 is available at
danskebank.com/IR.
since 2019, the development of these sources is not fac-
tored into our calculations of emissions. Because of this,
the decarbonisation effect is not yet reflected in our fig-
ures. By conducting an internal best-effort analysis on
updating emission factors, we estimate the decarbonisa-
tion of our portfolio to be well under way.
During 2024, we observed growing concerns about the
impacts of flooding and increased precipitation and the
protection of properties. Together with Danske Bank, we
have taken important steps to deepen our partnership
with OBH engineering consultancy firm to provide cus-
tomers with advice on climate adaptation measures, in
addition to the energy renovation advisory services al-
ready provided.
Below are highlights from the Realkredit Danmark’s
sustainability-related activities in 2024. Regarding sus-
tainability-related risks, reference is made to the Risk
Management section of note 34 of Realkredit Denmark’s
Annual Report 2024. It is important to note that the in-
formation provided below is not to be considered, nor
does it constitute, an account for corporate responsibility
or a separate sustainability statement. For all purposes,
reference is made to the Danske Bank Group’s Sustaina-
bility Statement.
To address the rising challenges of climate change, we
see a strong need for long-term nationwide initiatives
from national and local governments to adapt to the
changing climate and to secure homes and businesses
from flooding, in addition to property owners’ own initi-
atives.
Environmental initiatives
For our business customers, we have launched a value
proposition, The six-step plan for securing property
value, to guide and support these customers in the envi-
ronmental transition of their property portfolios. In this
six-step plan, we provide our customers with insights
into the sustainable transition and understanding the up-
coming regulation and the expected impact on market
dynamics. We engage with our customers to understand
their transition plans and to discuss different options to
finance their plans.
Realkredit Danmark remains deeply committed to ful-
filling its responsibility in relation to society’s transition
towards a net-zero future and to adapt to challenges as-
sociated with the changing climate. For our personal
customers and our business customers, the societal trans-
formation required to address climate change presents
not only risks but also opportunities.
Throughout 2024, we increased our interactions with our
customers to provide focused advice and financing op-
tions. Together with Danske Bank, we have established
strong partnerships that can provide valuable insights
and guide our customers in their specific plans to miti-
gate current and future challenges and protect the value
of their properties.
New partnerships have been formed with Comundo, a
climate tech company, and Sweco, one of Europe’s larg-
est architecture and engineering consultancies. The aim
of these partnerships is to provide support in two critical
steps in our customers’ work to measure, plan and exe-
cute energy-optimisation initiatives. We experienced a
high level of interest from our customers about the ser-
vices our partners can provide.
To support our personal customers in reducing energy
consumption from their homes, thereby reducing carbon
emissions, and to prepare the properties for a changing
climate, we offer mortgage financing for energy renova-
tions and climate protection initiatives on favourable
terms. Additionally, we offer a loan fee discount to cus-
tomers who buy or live in a full-year residence that holds
a valid class A or B energy performance certificate.
We saw progress towards meeting our ambitions to re-
duce the carbon emissions from our commercial real es-
tate portfolio by 75% by 2030 (measured against a 2020
baseline). This progress is following our target trajectory
despite the fact that the impact from increased use of re-
newable sources is not factored in due the emission fac-
tors having not been updated.
In 2024, homeowners’ interest in energy renovations re-
mained at a low level, primarily due to lower gas prices
and uncertainty with respect to public grants when
switching to a non-fossil energy source. In relation to re-
alising our ambitions to reduce the carbon emissions
from our personal mortgage portfolio by 75% by 2030
(measured against a 2020 baseline), we saw reductions
in 2024, albeit at a slower pace than our target trajectory
towards 2030. The pace of emission reduction is, how-
ever, highly dependent on access to sustainable electric-
ity and sustainable district heating. Because the Danish
Facilitating the transition in the real estate sector re-
quires abundant renewable energy. The development of
energy infrastructure is a major societal task, encom-
passing the scaling of clean energy production, the trans-
portation of electricity and heating as well as the integra-
tion of this into households and businesses. Realkredit
Danmark participates in the utility sector’s work to re-
move obstacles to providing efficient financing solutions
for these important infrastructure projects that our tar-
gets also depend on.
Realkredit Danmark Annual Report 2024 17
