Banco Comercial Portugues

Banco Comercial Portugues's reported carbon emissions

Banco Comercial Português (BCP) has demonstrated a commitment to reducing its carbon footprint, with significant emissions reported for its operations. In 2024, the bank's total carbon emissions reached approximately 10.56 billion kg CO2e. This figure is comprised of Scope 1 emissions totalling about 5.51 million kg CO2e, Scope 2 emissions at approximately 5.96 million kg CO2e (market-based), and a substantial Scope 3 contribution of about 9.60 billion kg CO2e, primarily driven by investments. Looking at previous years, BCP reported total emissions of approximately 6.85 billion kg CO2e in 2023, with Scope 1 emissions around 5.20 million kg CO2e and Scope 2 emissions at approximately 5.76 million kg CO2e (market-based). Scope 3 emissions in 2023 were significantly higher than Scope 1 and 2 combined, standing at about 6.84 billion kg CO2e, again largely due to investments. In 2022, total emissions were approximately 71.89 million kg CO2e, with Scope 1 emissions at about 4.54 million kg CO2e and Scope 2 emissions at around 7.77 million kg CO2e (market-based). Scope 3 emissions in 2022 were about 71.79 million kg CO2e. Banco Comercial Português has set ambitious climate targets. The bank is committed to achieving net zero emissions by 2030. Furthermore, it aims to reduce its Scope 1 and Scope 2 emissions to near zero by the middle of this decade. The bank also maintains its commitment to carbon neutrality at the operational level (direct emissions) by 2030 and neutrality for its credit and investment portfolio by 2050. These commitments highlight BCP's focus on integrating sustainability into its business strategy within the financial intermediation services sector.