Bank Of Cyprus
Bank of Cyprus Public Company Ltd, commonly known as Bank of Cyprus, is a leading financial institution headquartered in Nicosia, Cyprus (CY). Established in 1899, it has played a pivotal role in the Cypriot banking sector, expanding its operations across Europe and the UK. The bank primarily operates in the banking and financial services industry, offering a comprehensive range of products including personal and business banking, wealth management, and investment services. With a strong focus on innovation, Bank of Cyprus is recognised for its digital banking solutions, enhancing customer experience and accessibility. The bank has achieved significant milestones, including its successful recovery following the financial crisis of 2013, positioning itself as a key player in the region. Its commitment to customer service and financial stability continues to solidify its market position as a trusted banking partner in Cyprus and beyond.
DitchCarbon Score
How does Bank Of Cyprus'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 Cyprus's score of 35 is higher than 61% 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 Cyprus's reported carbon emissions
In 2023, Bank of Cyprus reported total carbon emissions of approximately 3,244,680,000 kg CO2e. This figure includes Scope 1 emissions of about 1,034,000 kg CO2e, which comprise mobile combustion (220,000 kg CO2e), fugitive emissions (584,000 kg CO2e), and stationary combustion (230,000 kg CO2e). Scope 2 emissions, primarily from purchased electricity, totalled around 10,529,000 kg CO2e. The bank's Scope 3 emissions were significant, amounting to approximately 2,774,000 kg CO2e from business travel, 2,062,000 kg CO2e from employee commuting, and 16,512,000 kg CO2e from purchased goods and services, among other categories. In comparison, the bank's total emissions for 2022 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. The Scope 3 emissions for that year were approximately 22,848,950 kg CO2e. The 2021 emissions data indicated a total of around 35,301,000 kg CO2e, with Scope 1 emissions of 1,028,710 kg CO2e and Scope 2 emissions of 11,423,000 kg CO2e. Despite these substantial emissions figures, Bank of Cyprus has not publicly committed to specific reduction targets or initiatives, nor have they disclosed any science-based targets (SBTi) or climate pledges. The emissions data is not cascaded from a parent company, indicating that the figures are independently reported by Bank of Cyprus Holdings Public Limited Company. Overall, while Bank of Cyprus has made strides in transparency regarding its emissions, further commitments to reduction targets would enhance its climate strategy and align with industry standards.
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| 2021 | 2022 | 2023 | |
|---|---|---|---|
| Scope 1 | 1,028,710 | 0,000,000 | 0,000,000 |
| Scope 2 | 11,423,000 | 00,000,000 | 00,000,000 |
| Scope 3 | 22,848,950 | 00,000,000 | 00,000,000 |
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 Cyprus 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.
