Business Development Bank of Canada

The Business Development Bank of Canada (BDC), headquartered in CA and operating within financial intermediation services, except insurance and pension funding services, reported significant progress in reducing its carbon footprint.

In fiscal year 2023, BDC achieved a total emission reduction of 38% since its fiscal year 2020 baseline, with reported emissions of approximately 3,729,000 kg CO2e. This figure encompasses Scope 1, Scope 2, and Scope 3 emissions. Specifically, Scope 1 emissions for 2023 were approximately 616,600 kg CO2e, Scope 2 emissions were about 1,398,300 kg CO2e, and Scope 3 emissions, primarily driven by business travel, amounted to approximately 1,724,000 kg CO2e.

The previous year, 2022, saw total emissions at approximately 6,008,000 kg CO2e, with Scope 1 at about 597,500 kg CO2e, Scope 2 at approximately 1,780,400 kg CO2e, and Scope 3 at about 3,629,700 kg CO2e.

BDC has established near-term commitments to achieve net-zero emissions. Their strategy includes increasing the use of renewable energy, reviewing the use of renewable energy credits, and purchasing high-quality carbon offsets for any unavoidable emissions. These initiatives are targeted for completion by the end of 2024.