Investor Presentaiton
Danske Bank
Investor Presentation - First half 2022
Fossil fuels (coal and oil) exposure
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•
Key points, Q222
This page shows the current exposure to fossil fuels and includes customers involved in production, refining, and distribution (including shipping) of oil as well as utilities producing
heat or power with coal.
The exposure to oil majors will decrease by 50% by 2030 against 2020 levels. Our customers in the distribution and refining segments are generally progressing well on the
transition, for instance by refineries switching to biofuels in refining or by gas stations investing in infrastructure for charging of electric vehicles. Within oil-related exposures, the
main risk lies with exposures other than oil majors. Since the end of 2019, these net exposures have been actively brought down 55% and are down by 11% from Q2 last year.
Power & heating utilities should reduce emissions per unit of electricity or heating by 30% by 2030 against 2020 levels. This entails an accelerated phase-out of coal.
The exposure shown on this page is to utility customers with any coal-based production [DKK 34.3 bn.) and hereof more than 5% of revenues from coal fired power production (1.5
bn.). For most customers, the use of coal is limited to a few remaining production facilities which are expected to phase-out in the coming years. Exposures have increased
somewhat from the beginning of the year due to short-term financing needs driven by volatile energy markets.
Group gross credit exposure
[DKK 2,623 bn]
2.1%
Fossil Fuels Exposure (Coal and Oil)
Segment
Crude and Product Tankers
Distribution and refining
Oil-related exposure
Oil majors
Offshore and services
Power and heating utilities
with any coal-based production
Oil-related net credit exposure, DKK bn: Development (excl. majors)
Net exposure
[DKK m)
3,046
8,411
10,530
3,748
16,782 i
15.1
34,280
-55%
-11%
-0.5%
6.8
7.6
7.5
6.9
6.8
4.6
Hereof customers with more
than 5% revenue from coal
1,453
042019
Q221
0321
0421
■ Fossil fuels exposure
■ Other
Total fossil fuel exposure
56,267
0122
0222
Of which covered by collateral
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