Masreq Bank, officially known as Mashreqbank PSC, is a leading financial institution headquartered in the United Arab Emirates (AE). Established in 1967, it has grown to become one of the oldest private banks in the region, with a strong presence across the Middle East and North Africa. Operating primarily in the banking and financial services industry, Masreq Bank offers a diverse range of products, including retail banking, corporate banking, and investment services. Its innovative digital banking solutions set it apart, catering to the evolving needs of its customers. With a commitment to excellence, Masreq Bank has achieved numerous accolades, solidifying its position as a trusted financial partner. Its focus on customer-centric services and technological advancements continues to drive its success in a competitive market.
How does Masreq 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.
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.
Masreq Bank's score of 35 is higher than 87% of the industry. This can give you a sense of how well the company is doing compared to its peers.
In 2023, Masreq Bank reported total carbon emissions of approximately 9,588,640 kg CO2e. This figure includes 73,730 kg CO2e from Scope 1 emissions, which primarily arise from direct operations, and about 9,247,260 kg CO2e from Scope 2 emissions, related to purchased electricity and cooling. Additionally, the bank's Scope 3 emissions were approximately 267,650 kg CO2e, which encompass indirect emissions from its value chain. Over the years, Masreq Bank has demonstrated a commitment to reducing its carbon footprint. From 2021 to 2023, the bank achieved a significant reduction in total emissions, decreasing from approximately 13,945,000 kg CO2e in 2021 to the latest figure in 2023. This represents a reduction of about 31% over this period. Masreq Bank has committed to achieving net-zero emissions by 2050, aligning with the Science Based Targets initiative (SBTi). This long-term target encompasses all scopes of emissions, reflecting the bank's dedication to comprehensive climate action. The bank's proactive approach to sustainability positions it as a leader in the financial sector within the United Arab Emirates (UAE).
Access structured emissions data, company-specific emission factors, and source documents
Get Started2020 | 2021 | 2022 | 2023 | |
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Scope 1 | 16,150 | 00,000 | 00,000 | 00,000 |
Scope 2 | 7,732,180 | 00,000,000 | 00,000,000 | 0,000,000 |
Scope 3 | 24,540 | 000,000 | 000,000 | 000,000 |
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.
Masreq Bank is committed to some reduction initiatives 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.