Al Baraka Bank Sustainability Profile
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 47 is higher than 66% 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, headquartered in Turkey (TR), reported total carbon emissions of approximately 6,453,260 kg CO2e. This figure includes Scope 1 emissions of about 4,146,560 kg CO2e, with significant contributions from mobile combustion (342,270 kg CO2e), fugitive emissions (839,820 kg CO2e), and stationary combustion (1,436,780 kg CO2e). Notably, the bank reported no Scope 2 emissions, while Scope 3 emissions totalled approximately 2,306,700 kg CO2e, primarily from employee commuting (765,280 kg CO2e) and business travel (157,910 kg CO2e). Al Baraka Bank's emissions data is cascaded from its parent company, Al Baraka Group B.S.C., reflecting a commitment to transparency in its environmental impact. However, the bank has not set specific reduction targets or initiatives as part of its climate strategy, indicating a potential area for future development in sustainability practices. Overall, Al Baraka Bank's emissions profile highlights the importance of addressing both direct and indirect emissions as part of its climate commitments, particularly in the context of its operations in Turkey and the broader global banking sector.
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| 2019 | 2020 | 2021 | 2022 | 2023 | |
|---|---|---|---|---|---|
| Scope 1 | 3,844,990 | 0,000,000 | 0,000,000 | 0,000,000 | 000,000 |
| Scope 2 | 7,964,880 | 0,000,000 | 0,000,000 | 000,000 | 0,000,000 |
| Scope 3 | - | - | - | 000,000 | 0,000,000 |
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Al Baraka Bank's Scope 3 Categories Breakdown
Al Baraka Bank's Scope 3 emissions, which increased by 47% last year and increased by approximately 47% since 2022, 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 45% of total emissions under the GHG Protocol, with "Employee Commuting" being the largest emissions source at 75% of Scope 3 emissions.
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Al Baraka Bank'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.
Al Baraka Bank 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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