Bank of Ceylon Sustainability Profile
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.
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
Bank of Ceylon's score of 32 is higher than 51% of the industry. This can give you a sense of how well the company is doing compared to its peers.
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Bank of Ceylon's reported carbon emissions
In 2023, the Bank of Ceylon reported significant carbon emissions, with approximately 1,200,000 kg CO2e attributed to Scope 3 emissions from employee commuting. This data highlights the bank's ongoing environmental impact, although no Scope 1 or Scope 2 emissions data was disclosed for this year. In 2022, the bank's total emissions were about 27,332,700 kg CO2e, comprising approximately 4,471,600 kg CO2e (Scope 1), 13,394,600 kg CO2e (Scope 2), and 8,186,900 kg CO2e (Scope 3). This indicates a comprehensive approach to emissions reporting, covering all three scopes. The bank's emissions have fluctuated over the years, with total emissions recorded at approximately 25,010,500 kg CO2e in 2021 and 22,000,000 kg CO2e in 2020, which included about 2,171,000 kg CO2e (Scope 1), 9,333,000 kg CO2e (Scope 2), and 5,268,000 kg CO2e (Scope 3). In 2019, the bank reported approximately 15,000,000 kg CO2e, with 3,146,000 kg CO2e (Scope 1) and 12,670,000 kg CO2e (Scope 2). Despite the detailed emissions reporting, the Bank of Ceylon has not set specific reduction targets or climate pledges, nor does it appear to have cascaded data from a parent organisation. The absence of documented reduction initiatives suggests a need for enhanced climate commitments in line with industry standards.
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| 2019 | 2020 | 2022 | 2023 | |
|---|---|---|---|---|
| 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?
How Carbon Intensive is Bank of Ceylon's Location?
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
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.
