Bank Of Cyprus

In 2023, Bank of Cyprus reported total carbon emissions of approximately 3,244,680,000 kg CO2e. This figure includes 1,034,000 kg CO2e from Scope 1 emissions, which encompass direct emissions from mobile combustion (185,570 kg CO2e), fugitive emissions (559,960 kg CO2e), and stationary combustion (156,720 kg CO2e). The bank's Scope 2 emissions, primarily from purchased electricity, amounted to about 10,529,000 kg CO2e. Additionally, Scope 3 emissions totalled approximately 21,815,000 kg CO2e, with significant contributions from purchased goods and services (13,958,890 kg CO2e) and employee commuting (1,853,200 kg CO2e). In 2022, the bank's total emissions were about 2,895,692,000 kg CO2e, with Scope 1 emissions at 1,114,000 kg CO2e and Scope 2 emissions at 11,906,000 kg CO2e. Scope 3 emissions for that year were approximately 21,815,690 kg CO2e. Despite these figures, Bank of Cyprus has not publicly committed to specific reduction targets or initiatives, as indicated by the absence of documented reduction targets or climate pledges. The bank's emissions intensity metrics for Scope 3 indicate a value of 8,600 kg CO2e per employee in 2023 and 0.589 kg CO2e per unit of revenue, reflecting its operational impact on climate change. Overall, while Bank of Cyprus has made strides in measuring its carbon footprint, it currently lacks defined reduction commitments, positioning it within an industry context that increasingly prioritises sustainability and climate action.