Bank of Communications Sustainability Profile
Bank of Communications Co., Ltd., commonly known as Bank of Communications or BoCom, is a prominent financial institution headquartered in Shanghai, China. Established in 1908, it has evolved into one of the largest commercial banks in the country, with a significant presence in major operational regions including Hong Kong and various international markets. Operating within the banking and financial services industry, Bank of Communications offers a diverse range of products and services, including corporate banking, personal banking, and wealth management. Its commitment to innovation and customer service distinguishes it from competitors, making it a trusted choice for both individual and corporate clients. With a strong market position, Bank of Communications has achieved notable milestones, including its listing on the Hong Kong Stock Exchange in 2005. The bank continues to expand its global footprint while maintaining a focus on sustainable growth and financial stability.
DitchCarbon Score
How does Bank of Communications'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 Communications's score of 35 is higher than 55% 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 Communications's reported carbon emissions
In 2024, Bank of Communications reported total carbon emissions of approximately 12,125,000 kg CO2e. This includes Scope 1 emissions of about 173,120 kg CO2e, primarily from stationary combustion and fugitive emissions, and Scope 2 emissions of approximately 4,886,490 kg CO2e, all from purchased electricity. Additionally, the bank's Scope 3 emissions totalled around 7,065,400 kg CO2e, with significant contributions from investments. In 2023, the bank's total emissions were about 5,703,580 kg CO2e, with Scope 1 emissions at approximately 164,430 kg CO2e and Scope 2 emissions at around 4,968,260 kg CO2e. Scope 3 emissions for that year were reported at about 570,900 kg CO2e. The bank's emissions for 2022 were significantly higher, totalling approximately 11,319,460 kg CO2e, with Scope 1 emissions of about 975,980 kg CO2e and Scope 2 emissions of approximately 9,836,120 kg CO2e. Scope 3 emissions for 2022 were around 507,350 kg CO2e. Despite these figures, Bank of Communications has not set specific reduction targets or climate pledges, and there are no documented initiatives aimed at reducing emissions. The emissions data is sourced directly from Bank of Communications Co., Ltd. and is not cascaded from any parent organization.
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| 2022 | 2023 | |
|---|---|---|
| Scope 1 | 975,980 | 000,000 |
| Scope 2 | 9,836,120 | 0,000,000 |
| Scope 3 | 507,350 | 000,000 |
How Carbon Intensive is Bank of Communications's Industry?
How Carbon Intensive is Bank of Communications's Location?
Bank of Communications's Scope 3 Categories Breakdown
Bank of Communications's Scope 3 emissions, which increased by 13% last year and increased by approximately 13% since 2022, demonstrating supply chain emissions tracking. Their carbon footprint includes suppliers and value chain emissions, with Scope 3 emissions accounting for 10% of total emissions under the GHG Protocol, with "Waste Generated in Operations" being the largest emissions source at 83% of Scope 3 emissions.
Top Scope 3 Categories
Bank of Communications'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 Communications 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.
