SBTi validation confirms pathway to 2030
In 2025, the validation of our climate targets by the Science Based Targets initiative (SBTi) was an important milestone. It confirms that the targets are well-founded and that the reduction targets for our own operations, social housing associations, healthcare institutions and the bond and MTN portfolio are in line with the scenario to limit global warming to a maximum of 1.5°C. For municipalities and education, we still use our own method, based on CRREM, an internationally recognised standard for assessing climate and energy risks for buildings. 'The SBTi validation demonstrates that ambition and realism can go hand in hand. We make a conscious choice to actively assess our targets,' says Risch.
Emissions are decreasing in several social sectors
Total absolute emissions from the loan portfolio decreased from 2,417 ktCO₂e in 2023 to 2,363 ktCO₂e in 2024, mainly due to a reduction in emissions from the Healthcare and Municipalities sectors. In the sectors we have been measuring since 2018, absolute financed Scope 1 and 2 emissions within the loan portfolio decreased by 0.6% compared to 2023 and 25.5% compared to our base year 2018. This result for 2024 means that we have already achieved the 2025 reduction target of at least 25%. The economic emission intensity of all sectors decreased by 6.5% in 2024 compared to 2023. This decrease is mainly driven by lower economic emission intensity in the Healthcare and Municipalities sectors.
Sector developments: effects for residents, pupils and patients
- Social housing associations: physical emission intensity increased slightly (22.0 → 22.1 kgCO₂e/m²), as residents used more gas in 2024. However, the sector shows a significant decrease in 2024 compared to the base year 2018 (-24.5%).
- Municipalities: physical emission intensity decreased by 6.7%. Despite the positive results, achieving the targets in the coming years will require a great deal of investment in the energy efficiency of municipal real estate.
- Healthcare: thanks to an improved calculation method, which ensures better data quality, physical emission intensity is considerably lower (72.4 → 46.1 kgCO₂e/m²).
- Public infrastructure and energy: the emission intensity per million euros financed decreased slightly (170.1 → 169.2 tCO2e/€ million). Renewable energy projects resulted in 366 ktCO₂e avoided emissions compared to 695 ktCO₂e emissions generated by the public infrastructure companies in our portfolio.
Making our own operations more sustainable
Emissions from BNG’s own operations increased due to gas consumption in our temporary office building, but our fleet quickly became more sustainable: at the end of 2025, two-thirds of lease cars were fully electric as a result of our reviewed mobility policy.
Looking ahead
We continue to focus on enhancing our clients’ sustainability through ESG standards, targeted engagement, and sustainable financing solutions. After a successful pilot project, we will introduce the green loan more broadly in the Social Housing Associations sector this year and explore possibilities to expand this financing instrument to other client groups. Our aim is to encourage the improved sustainability of public real estate and social provisions.
Furthermore, we support the energy transition by financing heating networks, renewable energy projects, making social real estate more sustainable and through clean public transport. At the same time, we are reducing our own CO₂ footprint by working on a fully electric fleet, an energy-efficient office, strict emission management and sustainable choices in the chain. Our SBTi-validated targets provide a solid pathway to 2030. This enables us to contribute to sustainability in the Netherlands and to the transition to a climate-neutral future.
