Canara Bank
Canara Bank, officially known as Canara Bank Limited, is a prominent financial institution headquartered in Bengaluru, India. Established in 1906, it has grown to become one of the largest public sector banks in the country, with a significant presence across various regions, including southern and western India. Operating in the banking and financial services industry, Canara Bank offers a diverse range of products and services, including retail banking, corporate banking, and wealth management. Its unique approach to customer service and innovative digital banking solutions have positioned it as a leader in the sector. With a rich history marked by key milestones, Canara Bank has consistently achieved notable accolades, including recognition for its robust financial performance and commitment to social responsibility. As a trusted name in banking, it continues to play a vital role in India's economic landscape.
DitchCarbon Score
How does Canara Bank'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
Canara Bank's score of 21 is lower than 92% of the industry. This can give you a sense of how well the company is doing compared to its peers.
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Canara Bank's reported carbon emissions
In 2023, Canara Bank reported significant carbon emissions, totalling approximately 11,741,850 kg CO2e for Scope 1 and about 272,722,940 kg CO2e for Scope 2 emissions. This data reflects the bank's operational impact within India, where it generated revenue of about USD 5.44 billion. Looking ahead, the bank's emissions for 2024 are projected to increase, with Scope 1 emissions expected to reach approximately 35,296,130 kg CO2e and Scope 2 emissions around 195,643,450 kg CO2e, alongside a revenue increase to about USD 6.88 billion. Despite these figures, Canara Bank has not disclosed specific reduction targets or initiatives aimed at decreasing its carbon footprint. The absence of documented climate pledges or science-based targets indicates a need for further commitment to sustainability practices. Overall, while Canara Bank's emissions data highlights its current environmental impact, the lack of clear reduction strategies suggests an opportunity for the bank to enhance its climate commitments and align with industry standards for sustainability.
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| 2023 | 2024 | |
|---|---|---|
| Scope 1 | 11,741,850 | 00,000,000 |
| Scope 2 | 272,722,940 | 000,000,000 |
| Scope 3 | - | - |
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.
Canara Bank 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.
