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Public Profile
Financial Intermediation
LK
updated 11 days ago

Bank of Ceylon Sustainability Profile

Company website

The Bank of Ceylon (BOC), established in 1939, is a leading financial institution headquartered in Colombo, Sri Lanka (LK). With a robust presence across the island and a growing international footprint, BOC operates in the banking and financial services industry, offering a comprehensive range of products and services. The bank is renowned for its retail banking, corporate banking, and treasury services, distinguished by its commitment to customer-centric solutions and innovative financial products. Over the decades, BOC has achieved significant milestones, including being the first bank in Sri Lanka to introduce online banking services. As a state-owned entity, the Bank of Ceylon holds a prominent market position, recognised for its stability and reliability, making it a trusted choice for individuals and businesses alike.

DitchCarbon Score

How does Bank of Ceylon'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.

26

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.

29

Industry Benchmark

Bank of Ceylon's score of 26 is lower than 53% of the industry. This can give you a sense of how well the company is doing compared to its peers.

47%

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Bank of Ceylon's reported carbon emissions

In 2023, the Bank of Ceylon reported carbon emissions of approximately 1,200,000 kg CO2e, all of which fall under Scope 3, specifically from employee commuting. This marks a significant focus on indirect emissions, although no data was disclosed for Scope 1 and Scope 2 emissions for this year. For the previous year, 2022, the Bank of Ceylon's total emissions were about 27,332,700 kg CO2e, with Scope 1 emissions at approximately 4,471,600 kg CO2e, Scope 2 emissions at around 13,394,600 kg CO2e, and Scope 3 emissions at about 8,186,900 kg CO2e. This indicates a comprehensive approach to measuring emissions across all scopes. The Bank has not set specific reduction targets or initiatives, as indicated by the absence of SBTi (Science Based Targets initiative) reduction targets or documented climate pledges. This lack of formal commitments suggests that while the Bank is tracking emissions, it may not yet be actively pursuing reduction strategies. Overall, the Bank of Ceylon's emissions data reflects a growing awareness of carbon footprints, particularly in employee commuting, but highlights the need for more robust climate commitments and reduction initiatives moving forward.

Unlock detailed emissions data

Access structured emissions data, company-specific emission factors, and source documents

2019202020222023
Scope 1
3,146,000
0,000,000
0,000,000
-
Scope 2
12,670,000
0,000,000
00,000,000
-
Scope 3
-
0,000,000
0,000,000
0,000,000

How Carbon Intensive is Bank of Ceylon's Industry?

Very low
Low
Medium
High
Very high
Some industries are more carbon intensive than others. Bank of Ceylon's primary industry is Financial intermediation services, except insurance and pension funding services (65), which is very low in terms of carbon intensity compared to other industries.

How Carbon Intensive is Bank of Ceylon's Location?

Very low
Low
Medium
High
Very high
The carbon intensity of the energy grid powering a company's primary operations has a strong influence on its overall carbon footprint. This request for Bank of Ceylon is in LK, which has a medium grid carbon intensity relative to other regions.

Bank of Ceylon's Scope 3 Categories Breakdown

Bank of Ceylon's Scope 3 emissions, which decreased by 85% last year and decreased by approximately 77% since 2020, 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 31% of total emissions under the GHG Protocol, with "Employee Commuting" representing nearly all of their reported Scope 3 footprint.

Top Scope 3 Categories

2023
Employee Commuting
100%

Bank of Ceylon'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.

Bank of Ceylon 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.

Science Based Targets Initiative
Carbon Disclosure Project
The Climate Pledge
UN Global Compact
RE 100
Climate Action 100
Race To Net Zero
Reduction Actions

Compare Bank of Ceylon's Emissions with Industry Peers

Sampath Bank

LK
•
Financial intermediation services, except insurance and pension funding services (65)
Updated 6 days ago

JPMorgan Chase & Co

US
•
Financial intermediation services, except insurance and pension funding services (65)
Updated 4 days ago

DFCC Bank PLC

LK
•
Financial intermediation services, except insurance and pension funding services (65)
Updated 9 days ago

Commercial Bank Of Ceylon

LK
•
Financial intermediation services, except insurance and pension funding services (65)
Updated 2 days ago

Hsbc Holdings

GB
•
Financial intermediation services, except insurance and pension funding services (65)
Updated 2 days ago

Wells Fargo

US
•
Financial intermediation services, except insurance and pension funding services (65)
Updated 4 days ago

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