Banco de Occidente S.A. Sustainability Profile
Banco de Occidente S.A., a prominent financial institution based in Colombia, has established itself as a leader in the banking sector since its inception in 1967. Headquartered in Bogotá, the bank operates extensively across major regions in Colombia, providing a wide array of financial services tailored to meet the needs of individuals and businesses alike. Specialising in retail banking, corporate banking, and investment services, Banco de Occidente offers unique products such as personalised credit solutions and innovative digital banking platforms. The bank's commitment to customer service and technological advancement has solidified its market position, making it a trusted choice for millions of clients. With a rich history of growth and key milestones, Banco de Occidente continues to play a vital role in Colombia's economic landscape.
DitchCarbon Score
How does Banco de Occidente S.A.'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 de Occidente S.A.'s score of 38 is higher than 62% 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 de Occidente S.A.'s reported carbon emissions
In 2023, Banco de Occidente S.A. reported total carbon emissions of approximately 5,040,640 kg CO2e, comprising 1,379,490 kg CO2e from Scope 1 and 4,023,150 kg CO2e from Scope 3 emissions. The previous year, 2022, the bank's emissions were about 6,740,840 kg CO2e, with 1,540,200 kg CO2e from Scope 1, 1,396,260 kg CO2e from Scope 2, and 6,103,380 kg CO2e from Scope 3. This data indicates a reduction in total emissions from 2022 to 2023, primarily driven by a decrease in Scope 3 emissions. However, Banco de Occidente S.A. has not set specific reduction targets or initiatives as part of its climate commitments, nor does it participate in the Science Based Targets initiative (SBTi) or similar frameworks. The emissions data is cascaded from Banco de Occidente S.A. as the source organization, reflecting its current subsidiary status. The bank's commitment to sustainability is evident, although further details on specific climate pledges or reduction initiatives are not available.
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| 2022 | 2023 | |
|---|---|---|
| Scope 1 | 1,540,200 | 0,000,000 |
| Scope 2 | 1,396,260 | - |
| Scope 3 | 6,103,380 | 0,000,000 |
How Carbon Intensive is Banco de Occidente S.A.'s Industry?
How Carbon Intensive is Banco de Occidente S.A.'s Location?
Banco de Occidente S.A.'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 de Occidente S.A. 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.
