Skip to main content
29 Mar 2022 – Articles

Projects financed by green loans save the planet one million tonnes of CO2

In 2021, projects funded by green loans from Danske Bank and Realkredit Danmark have saved the atmosphere from CO2 emissions equivalent to 4 million flights from Copenhagen to Paris.




1,087,552 tonnes.

That is the amount of CO2 avoided as a result of projects financed by green loans from Danske Bank and Realkredit Danmark during last year. The more CO2 in the atmosphere, the stronger the greenhouse effect and ultimately climate change on earth.

One of the companies that have used a green loan is Flow Elnet. Flow Elnet is a Danish electricity gridline company that provides electricity to 33,000 households in the Southern part of Funen. The green loan is used to finance investments in the refurbishments and extension of the electricity distribution network, which is a key factor in enabling the green transition that relies heavily on electrification.

Finnish Vaasan Sähkö is another example of a company that have used a green loan to finance renewable energy projects. Vaasan Sähkö is the municipal energy company of the city of Vaasa, which have used the green loan to finance the development of a new wind power park in Norrskogen, Närpiö. The wind power park is set to be completed in 2023 and will have a projected production capacity of more than 300 GWh of renewable electricity.


We are seeing an increasing demand from our customers, who are particularly using green loans to finance energy-efficient buildings and renewable energy projects.

Samu Slotte

Global Head of Sustainable Finance, Danske Bank



Growing demand for green loans
In 2021, the volume of green loans almost doubled compared to 2020. In Danske Bank, the share of green loans grew from 12 billion Danish kroner in 2020 to 21 billion Danish kroner at the end of 2021. The same goes for Realkredit Danmark, where green loans grew from 9.7 billion Danish kroner in 2020 to 17 billion kroner at the end of 2021.

“We are seeing an increasing demand from our customers, who are particularly using green loans to finance energy-efficient buildings and renewable energy projects. The advantages of a green loan is that they can be slightly cheaper than a standard loan and at the same time, the borrower can demonstrate that their projects are green as they meet our green loan criteria,” says Samu Slotte, Global Head of Sustainable Finance in Danske Bank.

Sustainable finance in focus
Sustainable finance is an important focus area for Danske Bank Group, but what is it really? Get an explanation here: 
ac025b50-382e-440a-9c04-7710695e1e92


Danske Bank has set a target to secure 300 billion Danish kroner in sustainable financing by 2023. In 2021, Danske Bank Group’s green loans totalled 37,5 billion kroner and thus, the bank now have provided 192 billion Danish kroner in sustainable finance since 2019. 

“We are actively supporting our customers to achieve their sustainability ambitions and I expect that the demand for green loans will continue to grow, both on an overall global level, and in Danske Bank and Realkredit Danmark specifically,” says Samu Slotte.

What is a green loan?

A green loan finances or re-finances loans or investments for projects that are earmarked for specific green projects and are in accordance with the categories of Danske Bank's Green Bond Framework

Yearly overview of efforts

Our annual Green Bond Report provides an overview of our green lending developments and allocation of funds, including the estimated positive environmental impact achieved by the use of proceeds from these issuances.
Download report