Banco Comercial Portugues Sustainability Profile
Banco Comercial Português, commonly known as Millennium BCP, is a leading financial institution headquartered in Lisbon, Portugal. Established in 1985, it has grown to become a prominent player in the banking sector, serving a diverse clientele across Portugal and several international markets, including Poland and Mozambique. As a full-service bank, Millennium BCP offers a wide range of products and services, including retail banking, corporate banking, investment solutions, and asset management. Its commitment to innovation and customer-centric solutions sets it apart in the competitive landscape. With a strong market position, Millennium BCP has achieved significant milestones, including being the first private bank in Portugal to list on the stock exchange. The bank continues to focus on sustainable growth and digital transformation, reinforcing its reputation as a trusted financial partner.
DitchCarbon Score
How does Banco Comercial Portugues'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
Banco Comercial Portugues's score of 57 is higher than 74% of the industry. This can give you a sense of how well the company is doing compared to its peers.
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Banco Comercial Portugues's reported carbon emissions
In 2024, Banco Comercial Português (BCP) reported total carbon emissions of approximately 12,312,000 kg CO2e, comprising 5,505,000 kg CO2e from Scope 1, 5,955,000 kg CO2e from Scope 2, and a significant 9,598,650,000 kg CO2e from Scope 3 emissions. The Scope 3 emissions are primarily driven by investments, which accounted for about 8,350,239,000 kg CO2e. In 2023, BCP's emissions were slightly lower, with total emissions of approximately 10,957,000 kg CO2e, including 5,202,000 kg CO2e from Scope 1 and 5,756,000 kg CO2e from Scope 2. BCP has set ambitious climate commitments, aiming to reduce its Scope 1 and 2 emissions to near zero by 2025. Additionally, the bank is committed to achieving carbon neutrality for its direct operations by 2030 and aims for neutrality in its credit and investment portfolio by 2050. These targets reflect BCP's dedication to sustainability and its proactive approach to addressing climate change. The emissions data is sourced directly from Banco Comercial Português, S.A., with no cascading from a parent organization. BCP's commitment to reducing its carbon footprint aligns with industry standards and reflects a growing trend among financial institutions to enhance their environmental responsibility.
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| 2008 | 2009 | 2017 | 2018 | 2019 | 2020 | 2022 | 2023 | 2024 | |
|---|---|---|---|---|---|---|---|---|---|
| Scope 1 | 19,856 | 00,000 | 00,000,000 | 0,000,000 | 0,000,000 | 0,000,000 | 0,000,000 | 0,000,000 | 0,000,000 |
| Scope 2 | - | - | 00,000,000 | 00,000,000 | 00,000,000 | 00,000,000 | 0,000,000 | 0,000,000 | 0,000,000 |
| Scope 3 | 1,166 | 000,000 | 000,000 | 0,000,000 | 0,000,000 | 000,000 | 00,000,000 | 0,000,000,000 | 0,000,000,000 |
How Carbon Intensive is Banco Comercial Portugues's Industry?
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Banco Comercial Portugues's Scope 3 Categories Breakdown
Banco Comercial Portugues's Scope 3 emissions, which increased by 40% last year and increased significantly since 2008, demonstrating supply chain emissions tracking. Nearly all of their carbon footprint comes from suppliers and value chain emissions, representing nearly all emissions under the GHG Protocol, with "Investments" being the largest emissions source at 87% of Scope 3 emissions.
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Banco Comercial Portugues'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.
Banco Comercial Portugues 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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Frequently Asked Questions
Common questions about Banco Comercial Portugues's sustainability data and climate commitments