Al Baraka Bank
Al Baraka Bank, officially known as Al Baraka Banking Group, is a prominent financial institution headquartered in Turkey (TR). Established in 1984, the bank has grown to become a key player in the Islamic banking sector, with a strong presence in various regions, including the Middle East, North Africa, and Southeast Asia. Specialising in Sharia-compliant financial services, Al Baraka Bank offers a diverse range of products, including retail banking, corporate financing, and investment services. Its unique approach to ethical banking sets it apart in the industry, catering to clients seeking financial solutions aligned with Islamic principles. With a commitment to innovation and customer satisfaction, Al Baraka Bank has achieved significant milestones, solidifying its market position as a trusted provider of Islamic banking services.
DitchCarbon Score
How does Al Baraka 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
Al Baraka Bank's score of 44 is higher than 93% of the industry. This can give you a sense of how well the company is doing compared to its peers.
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Al Baraka Bank's reported carbon emissions
In 2023, Al Baraka Bank reported total carbon emissions of approximately 2,643,000 kg CO2e. This figure includes Scope 1 emissions of about 417,000 kg CO2e, primarily from mobile combustion (1,821,350 kg CO2e), fugitive emissions (839,820 kg CO2e), and stationary combustion (1,485,390 kg CO2e). Scope 2 emissions accounted for approximately 1,039,000 kg CO2e, while Scope 3 emissions totalled around 1,187,000 kg CO2e, with significant contributions from business travel (923,190 kg CO2e) and employee commuting (888,000 kg CO2e). In comparison, the bank's total emissions in 2022 were about 1,675,000 kg CO2e, indicating a substantial increase in emissions year-on-year. The breakdown for 2022 shows Scope 1 emissions at approximately 4,146,560 kg CO2e, Scope 2 at about 5,898,480 kg CO2e, and Scope 3 at around 807,000 kg CO2e. Despite the increase in emissions, Al Baraka Bank has not disclosed specific reduction targets or initiatives as part of their climate commitments. The absence of documented reduction strategies suggests a need for further development in their sustainability efforts. The bank's headquarters is located in Turkey (TR), and it operates within a global context, reflecting the growing importance of climate action in the financial sector.
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| 2018 | 2022 | 2023 | |
|---|---|---|---|
| Scope 1 | 3,546,690 | 0,000,000 | 000,000 |
| Scope 2 | 7,618,110 | 0,000,000 | 0,000,000 |
| Scope 3 | 2,166,020 | 000,000 | 0,000,000 |
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.
Al Baraka 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.
