ABANCA Sustainability Profile
ABANCA, officially known as ABANCA Corporación Bancaria, is a prominent financial institution headquartered in Portugal. Established in 2014, the bank has rapidly expanded its operations across key regions in Spain and Portugal, focusing on retail banking, corporate finance, and investment services. With a commitment to innovation, ABANCA offers a range of unique products, including personalised banking solutions and digital services tailored to meet the diverse needs of its clients. The bank has garnered recognition for its customer-centric approach and has achieved significant milestones, positioning itself as a competitive player in the Iberian banking sector. ABANCA's dedication to sustainability and community engagement further distinguishes it in the industry, making it a trusted choice for individuals and businesses alike.
DitchCarbon Score
How does ABANCA'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
ABANCA's score of 45 is higher than 65% of the industry. This can give you a sense of how well the company is doing compared to its peers.
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ABANCA's reported carbon emissions
In 2024, ABANCA reported total carbon emissions of approximately 8,000,000 kg CO2e, comprising 1,397,640 kg CO2e from Scope 1, 3,270,240 kg CO2e from Scope 2, and 3,298,000 kg CO2e from Scope 3 emissions. Notably, the Scope 3 emissions included significant contributions from business travel, amounting to 1,431,710 kg CO2e. Comparatively, in 2023, ABANCA's emissions were about 6,000,000 kg CO2e, with Scope 1 emissions at 1,094,210 kg CO2e, Scope 2 at 6,180,930 kg CO2e, and Scope 3 at 2,545,230 kg CO2e. This indicates a rise in total emissions from 2023 to 2024. ABANCA has set ambitious reduction targets for its emissions. For Scope 1, the bank aims to reduce emissions per employee from 0.178 tCO2e to 0.166 tCO2e by 2027, representing a 6.7% reduction. Additionally, for Scope 3, the target is to decrease emissions per employee from 0.420 tCO2e to 0.396 tCO2e, a 5.5% reduction by the same year. The overall reduction potential for Scope 1 emissions is set at 7%, equating to a maximum reduction of 94 tCO2e, with a baseline established from 2024 emissions. ABANCA's emissions data is independently reported and does not cascade from any parent organization. The bank's commitment to reducing its carbon footprint aligns with industry standards and reflects a proactive approach to climate responsibility.
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| 2019 | 2023 | 2024 | |
|---|---|---|---|
| Scope 1 | 1,397,640 | 0,000,000 | 0,000,000 |
| Scope 2 | 3,270,240 | 0,000,000 | 0,000,000 |
| Scope 3 | 3,298,000 | 0,000,000 | 0,000,000 |
How Carbon Intensive is ABANCA's Industry?
How Carbon Intensive is ABANCA's Location?
ABANCA's Scope 3 Categories Breakdown
ABANCA's Scope 3 emissions, which increased by 30% last year and increased by approximately 0% since 2019, demonstrating supply chain emissions tracking. A significant portion of their carbon footprint comes from suppliers and value chain emissions, with Scope 3 emissions accounting for 41% of total emissions under the GHG Protocol, with "Business Travel" being the largest emissions source at 43% of Scope 3 emissions.
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ABANCA's Climate Goals (2030 & 2050)
Climate goals typically focus on 2030 interim targets and 2050 net-zero commitments, aligned with global frameworks like the Paris Agreement and Science Based Targets initiative (SBTi) to ensure alignment with global climate goals.
ABANCA has not publicly committed to specific 2030 or 2050 climate goals through the major frameworks we track. Companies often set interim 2030 targets and long-term 2050 net-zero goals to demonstrate measurable progress toward decarbonization.
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