In a strategic move to bolster its support for the green transition of businesses, Danske Bank has announced a new partnership with Copenhagen based startup EIVEE, who is specializing in calculating companies’ CO2 footprints. This collaboration aims to facilitate Danske Bank’s corporate clients in their efforts to comply with upcoming EU sustainability requirements and to support CO2-reduction initiatives with financing solutions.

As businesses grapple with the intensifying demands of EU’s impending sustainability legislation, which will not only affect large publicly traded companies but also their suppliers through heightened sustainability data requirements, Danske Bank’s partnership with EIVEE emerges as a timely solution. This initiative is set to ease the significant pressure many businesses face in meeting these requirements by providing them with a tool to streamline their climate reporting processes.

“Our platform ensures full transparency in all data sources and calculations, which is crucial as ESG data will soon be as important as financial figures for companies. This allows businesses to confidently share their climate accounts from our platform with customers, investors, authorities, and other stakeholders,”

said Peter Schack, CEO of EIVEE

EIVEE’s platform aids companies in obtaining a detailed overview of their Scope 1, 2, and 3 emissions by collecting, cleaning, and categorizing data from relevant company data sources. This process results in highly accurate calculations down to the product level, covering direct emissions from company-owned assets, indirect emissions from purchased energy, and all other indirect emissions occurring in the value chain, such as supplier purchases, business travel, and investments.

“The enhanced requirements for sustainability reporting are creating a great deal of pressure on many of our customers. It’s a complex task to gain an overview of a company’s total CO2 footprint, which is why we’ve entered into a partnership with EIVEE. They can assist our customers with both the collection and reporting of CO2 data,”

explains Niels-Bang Hansen, Danske Bank’s Head of Corporate Customers in Denmark

As part of the partnership, Danske Bank is offering its corporate clients access to EIVEE’s solution at favorable prices and terms. Moreover, the bank is prepared to review the financing of CO2-reduction projects that EIVEE’s solution identifies.

“Assisting our clients with their sustainable transformation plays a significant role at Danske Bank. All our business advisors have recently completed another training course on ESG, and we are ready to act as both a sparring partner and help with financing when our clients wish to take the next step towards a more sustainable direction,”

Niels Bang-Hansen added

This collaboration between Danske Bank and EIVEE represents a forward-thinking approach to addressing the complex challenges of climate reporting and sustainability efforts, paving the way for a greener future in the business sector.