Direct emissions
47,805
tCO2e
Back to search resultsEmissions
Sustainability
Scope
ESTIMATED ESTIMATED ESTIMATED ESTIMATED ESTIMATED ESTIMATED ESTIMATED ESTIMATED ESTIMATED ESTIMATED ESTIMATED ESTIMATED ESTIMATED ESTIMATED ESTIMATED REPORTED 
Read the full scoring methodologyOur white paper covers exactly how the Mycelium Score and Transparency Score are calculated, including the normalisation process and what earns a 10/10.Download the white paper (PDF)
Mycelium Score3.0 / 10Below-average scoreATransparencyVery HighExtensive disclosure across almost all key areas
Explore carbon emissions data for Norges Bank Investment Management. Mycelium helps you review reported emissions, disclosure status, Scope 1, Scope 2 and Scope 3 data, climate targets and sustainability information in one company profile.
This profile brings together available carbon emissions data for Norges Bank Investment Management, including reported figures, modelled estimates, disclosure documents and sustainability indicators, so you can review its emissions and compare its performance against similar companies. It is one entry in the Mycelium emissions database. Read how we source and check this data.
Emissions
Carbon emissions
Total yearly emissions across all scopes
447,746,556tCO2e(Mycelium adjusted)
- Reported by Norges Bank Investment Management
- 440,059,000 tCO₂e
- Estimated by Mycelium
- 7,687,556 tCO₂e
Norges Bank Investment Management reported 98% of the adjusted total. Mycelium estimated the remaining 2% for the categories it did not disclose.
Scope 1
tCO2e
47,805
Scope 2
tCO2e
–
Scope 3 total
tCO2e
447,698,750
Not yet checked against the source report
Scope 3 reported
- 1
- 2
- 3
- 4
- 5
- 6
- 7
- 8
- 9
- 10
- 11
- 12
- 13
- 14
- 15
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See the scope breakdownProvenance
Emissions
Factors
0.011kgCO2e / $
Supplier specific emission factors (kgCO2e / $)
Modelled
Reported
UpstreamScope 1, 2 + upstream Scope 3
0.011
–
Total+ all Scope 3
–
1.839
Per US dollar of revenue. Mycelium models the upstream factor only.
Which figure should I use?
Estimating your own supply-chain emissions from spend with this company? Use Upstream Modelled. The GHG Protocol defines purchased-goods emissions as cradle-to-gate, which means this company's own operations plus its upstream supply chain. Any of those emissions the company has not disclosed are filled with modelled estimates, so a transparent company is not unfairly penalised against one that simply has not reported.
Looking at what the company filed itself? Use the Reported column. Total Reported also includes downstream emissions, such as the lifetime use of the products this company sells, which the GHG Protocol attributes to the users of those products rather than to customers buying goods and services.
Reported counts only emissions the company has filed itself. A blank or low Reported cell does not mean those emissions do not exist, just that the company has not disclosed them. When Upstream Reported sits close to Upstream Modelled, that is a positive signal: the company has disclosed most of its upstream emissions.
Sustainability
Snapshot
Based on reported data, retrieved with AI
- Norges Bank Investment Management reported 440,059,000 tCO₂e in 2023.
- Scope 3 accounted for 100% of reported emissions.
- Reported across 1 of 15 GHG Protocol Scope 3 categories.
According to available emissions disclosures, Norges Bank Investment Management reported total yearly emissions of 440,059,000 tCO₂e in 2023. Scope 3 emissions accounted for 100% of the reported footprint, indicating supply chain activity, purchased goods and services, business travel, and wider operational dependencies were the most significant contributors to the company's carbon footprint.
The company achieved a Mycelium Score of 3.0, placing it below average for its sector for sustainability performance, and received a transparency score of 99.1, an exceptional result, reflecting open disclosure across nearly every key emissions metric.
Scope
breakdown
Scope 1 emissions
Direct emissions from sources the company owns or controls, such as fuel use, facilities and vehicles.
Scope 2 emissions
Indirect emissions from purchased energy, including electricity, heating and cooling.
Purchased energy
–
tCO2eScope 3 emissions
Wider value chain emissions across the 15 GHG Protocol categories, from purchased goods and business travel to investments, where reported.
Cat 1
Purchased goods & services
2,145,919
tCO2eCat 2
Capital goods
243,123
tCO2eCat 3
Fuel & energy related activities
44,958
tCO2eCat 4
Upstream transportation & distribution
3,541
tCO2eCat 5
Waste generated in operations
93
tCO2eCat 6
Business travel
1,357
tCO2eCat 7
Employee commuting
310
tCO2eCat 8
Upstream leased assets
142,339
tCO2eCat 9
Downstream transportation & distribution
137,744
tCO2eCat 10
Processing of sold products
2,841,658
tCO2eCat 11
Use of sold products
1,552,973
tCO2eCat 12
End-of-life treatment of sold products
104,473
tCO2eCat 13
Downstream leased assets
178,519
tCO2eCat 14
Franchises
242,743
tCO2eCat 15
Investments
440,059,000
tCO2e15 values were derived via Mycelium's normalisation process rather than reported by the company. A cell marked “ESTIMATED” is a figure the company did not disclose, modelled by Mycelium.
Verification
Independent third parties involved in checking or preparing Norges Bank Investment Management's emissions data.
Carbon accountant
Norges Bank Investment Management, using S&P Global Trucost emissions dataprepared the 2023 figures
Contact Info
Website
nbim.noCountry
Norway
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How scoring works
How the Mycelium Score is calculated
The Mycelium Score is out of 10. Up to 6.5 points reflect carbon intensity vs peers in the same NACE section (emissions normalised against revenue, log-scaled between the 5th and 95th percentile of each company's latest reporting year in that section; a section needs at least 5 companies to be benchmarked). The band above 6.5 is earned through verified data quality on a claimed profile: declaring every reporting category yourself (up to 2.0), preparation by a carbon accountant (2.0) and independently audited figures (2.0). The total is multiplied by the transparency score and capped at 10. A disclosure with an implausibly large figure (Scope 1 or 2 over 300 million tonnes, a Scope 3 figure over 2 billion tonnes or a total over 2.5 billion tonnes) is not scored until it has been checked.
A higher score means lower carbon intensity than sector peers, backed by data that's third-party verified, claimed by the company, and fully disclosed. Norges Bank Investment Management's score sits at the top of this page and in the score panel. Without a revenue figure to measure carbon intensity, or an industry classification to compare it within, a company has no score.
How the Transparency Score is calculated
The Transparency Score is the share of a company's estimated footprint that it reported itself, graded from A (very high) down to F (very low). Where a category is missing, Mycelium models what it would hold for a company of that size and industry and counts it as undisclosed, so an unreported category where the bulk of emissions sit hurts far more than a minor one. Unreported downstream categories (9 to 15) count at a quarter of their modelled size in this share; the carbon intensity behind the score still counts them in full. A Scope 3 total filed without a category breakdown earns very little credit for the part left unattributed, because it does not show which categories are inside it: a company can count business travel, leave purchased goods out entirely, and the total looks the same. Without a revenue figure the footprint cannot be modelled, so the company has no Transparency Score.
Norges Bank Investment Management has disclosed the categories that carry most of its estimated footprint, so there's no single bucket dragging the transparency score down. The breakdown above shows which figures are reported and which are modelled.
Read the full scoring methodologyOur white paper covers exactly how the Mycelium Score and Transparency Score are calculated, including the normalisation process and what earns a 10/10.Download the white paper (PDF)Compare Norges Bank Investment Management with similar companies
Norges Bank Investment Management carbon emissions FAQs
What are Norges Bank Investment Management's carbon emissions?
In its 2023 reporting year, Norges Bank Investment Management disclosed total emissions of 440,059,000 tCO2e across all scopes. Including Mycelium estimates for undisclosed categories, the adjusted total is 447,746,556 tCO2e. Scope 3 accounted for the largest share of the reported total, around 100%.
Does Norges Bank Investment Management report Scope 1, Scope 2 and Scope 3 emissions?
For 2023, Norges Bank Investment Management's available disclosure covers Scope 3 across 1 of the 15 GHG Protocol categories. Figures not reported by the company are shown as modelled estimates and labelled as such.
How transparent is Norges Bank Investment Management's emissions reporting?
Norges Bank Investment Management has a Mycelium transparency score of 99.1 out of 100. The score is the share of the company's estimated footprint that it reported itself, so an undisclosed category where most of its emissions sit weighs far more than a minor one.
Is Norges Bank Investment Management sustainable?
Mycelium measures sustainability through carbon emissions data rather than giving a yes or no verdict. Norges Bank Investment Management has a Mycelium Score of 3.0 out of 10, which reflects its emissions intensity against sector peers together with how transparent and well-verified its reporting is. The emissions figures and disclosure documents on this page give the fuller picture.
Is Norges Bank Investment Management environmentally friendly?
Carbon emissions are one measurable part of environmental impact, and the part Mycelium tracks. Norges Bank Investment Management disclosed 440,059,000 tCO2e for 2023, and its Mycelium Score of 3.0 out of 10 shows how that performance compares with similar companies in its sector.
Learn more about our methodology and where this data comes from.