Commbank
Commonwealth Bank of Australia, often referred to as Commbank, is a leading financial institution headquartered in Sydney, Australia. Established in 1911, it has grown to become one of the largest banks in the country, serving millions of customers across Australia and internationally. Operating primarily in the banking and financial services industry, Commbank offers a diverse range of products, including personal and business banking, investment services, and insurance. Its innovative digital banking solutions set it apart, providing customers with seamless access to their finances. With a strong market position, Commbank has consistently been recognised for its commitment to customer service and technological advancement, earning accolades for its mobile banking app and online services. As a trusted name in finance, Commbank continues to shape the future of banking in Australia and beyond.
DitchCarbon Score
How does Commbank'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
Commbank's score of 46 is higher than 94% of the industry. This can give you a sense of how well the company is doing compared to its peers.
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Commbank's reported carbon emissions
In 2023, Commbank reported total carbon emissions of approximately 67,433,000 kg CO2e, comprising 7,891,000 kg CO2e from Scope 1, 12,000 kg CO2e from Scope 2, and about 134,730,000 kg CO2e from Scope 3 emissions. This reflects a significant increase in emissions compared to previous years, particularly in Scope 3, which includes upstream transportation and distribution. In 2022, the bank's total emissions were around 35,745,000 kg CO2e, with Scope 1 emissions at 6,667,000 kg CO2e, Scope 2 at approximately 5,900,000 kg CO2e, and Scope 3 emissions reaching about 76,643,000 kg CO2e. The data indicates a trend of increasing emissions over the years, with 2021 showing total emissions of about 32,955,000 kg CO2e. Commbank has not disclosed specific reduction targets or initiatives aimed at decreasing its carbon footprint, nor has it committed to any science-based targets (SBTi). The absence of documented reduction initiatives suggests a need for enhanced climate action strategies to align with global sustainability goals. Overall, while Commbank has made strides in reporting its emissions across all scopes, the increasing trend in emissions highlights the importance of establishing clear reduction targets and implementing effective sustainability measures.
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| 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | |
|---|---|---|---|---|---|---|---|---|---|
| Scope 1 | 9,063,000 | 0,000,000 | 0,000,000 | 0,000,000 | 00,000,000 | 0,000,000 | 0,000,000 | 0,000,000 | 0,000,000 |
| Scope 2 | 107,762,000 | 00,000,000 | 00,000,000 | 00,000,000 | 000,000,000 | 0,000,000 | - | 00,000 | 00,000 |
| Scope 3 | 93,622,000 | 00,000,000 | 00,000,000 | 00,000,000 | 00,000,000 | 00,000,000 | 00,000,000 | 000,000,000 | 000,000,000 |
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.
Commbank is participating in some 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.
