Bank of Communications
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 38 is higher than 87% 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 2023, Bank of Communications reported total carbon emissions of approximately 5,703,580 kg CO2e. This figure includes 164,430 kg CO2e from Scope 1 emissions, which encompass direct emissions from owned or controlled sources. Scope 2 emissions, primarily from purchased electricity, accounted for about 4,968,260 kg CO2e. Additionally, Scope 3 emissions, which include indirect emissions from the value chain, totalled approximately 570,900 kg CO2e. In 2022, the bank's total emissions were significantly higher at about 11,319,460 kg CO2e, indicating a substantial reduction in emissions year-on-year. The breakdown for 2022 shows Scope 1 emissions at 975,980 kg CO2e and Scope 2 emissions at 9,836,120 kg CO2e, with Scope 3 emissions at 507,350 kg CO2e. Despite these reductions, Bank of Communications has not publicly committed to specific reduction targets or initiatives, such as those aligned with the Science Based Targets initiative (SBTi). The absence of defined climate pledges suggests a need for further commitment to climate action within the banking sector.
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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 |
Industry emissions intensity
Location emissions intensity
Reduction initiatives & disclosure networks
Companies disclose and commit to reducing emissions to show they are serious about reducing emissions impact over time. They can also help a company track its progress over time.
Bank of Communications is not participating in any of the initiatives that we track. This may change over time as the company engages with new initiatives or updates its commitments. DitchCarbon will update this information as it becomes available.
