Canara Bank
Canara Bank, officially known as Canara Bank Limited, is a prominent financial institution headquartered in Bengaluru, India. Established in 1906, it has grown to become one of the largest public sector banks in the country, with a significant presence across various regions, including southern and western India. Operating in the banking and financial services industry, Canara Bank offers a diverse range of products and services, including retail banking, corporate banking, and wealth management. Its unique approach to customer service and innovative digital banking solutions have positioned it as a leader in the sector. With a rich history marked by key milestones, Canara Bank has consistently achieved notable accolades, including recognition for its robust financial performance and commitment to social responsibility. As a trusted name in banking, it continues to play a vital role in India's economic landscape.
DitchCarbon Score
How does Canara Bank's carbon action stack up? DitchCarbon scores companies based on their carbon action and commitment to reducing emissions. Read about our methodology to learn more.
Industry Average
Mean score of companies in the Financial Intermediation industry. Comparing a company's score to the industry average can give you a sense of how well the company is doing compared to its peers.
Industry Benchmark
Canara Bank's score of 23 is lower than 81% of the industry. This can give you a sense of how well the company is doing compared to its peers.
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Canara Bank's reported carbon emissions
In 2023, Canara Bank reported significant carbon emissions, totalling approximately 11,741,850 kg CO2e for Scope 1 and about 272,722,940 kg CO2e for Scope 2. This data highlights the bank's operational impact on climate change, with a combined total of approximately 284,464,790 kg CO2e in emissions for the year. Looking ahead, Canara Bank's emissions for 2024 are projected to increase, with Scope 1 emissions estimated at 35,296,130 kg CO2e and Scope 2 emissions at 195,643,450 kg CO2e. This indicates a potential rise in their carbon footprint, which may necessitate enhanced climate action strategies. Currently, Canara Bank has not disclosed any specific reduction targets or initiatives under the Science Based Targets initiative (SBTi) or other climate pledges. This absence of formal commitments suggests a need for the bank to establish clear sustainability goals to mitigate its environmental impact effectively. Overall, while Canara Bank's emissions data provides a snapshot of its current climate impact, the lack of reduction targets underscores the importance of developing a robust climate strategy to address future challenges.
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| 2023 | 2024 | |
|---|---|---|
| Scope 1 | 11,741,850 | 00,000,000 |
| Scope 2 | 272,722,940 | 000,000,000 |
| Scope 3 | - | - |
Industry emissions intensity
Location emissions intensity
Reduction initiatives & disclosure networks
Companies disclose and commit to reducing emissions to show they are serious about reducing emissions impact over time. They can also help a company track its progress over time.
Canara Bank is not participating in any of the initiatives that we track. This may change over time as the company engages with new initiatives or updates its commitments. DitchCarbon will update this information as it becomes available.
