Canara Bank Sustainability Profile
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 23 is lower than 76% 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 2024, Canara Bank reported total carbon emissions of approximately 35,296,130 kg CO2e for Scope 1 and about 195,643,450 kg CO2e for Scope 2. This reflects a significant increase in emissions compared to 2023, when the bank's Scope 1 emissions were about 11,741,850 kg CO2e and Scope 2 emissions were approximately 272,722,940 kg CO2e. The bank has disclosed emissions data for both Scope 1 and Scope 2 but has not reported any Scope 3 emissions. Canara Bank has not set specific reduction targets or initiatives under the Science Based Targets initiative (SBTi) or other climate pledges, indicating a potential area for future commitment. Overall, Canara Bank's emissions intensity per Rupee of turnover for 2024 was approximately 1.8089e-10 kg CO2e, while in 2023, it was about 3.427e-11 kg CO2e. The bank's emissions data is not cascaded from any parent organization, and all reported figures are derived directly from Canara Bank's disclosures.
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| 2023 | 2024 | |
|---|---|---|
| Scope 1 | 11,741,850 | 00,000,000 |
| Scope 2 | 272,722,940 | 000,000,000 |
| Scope 3 | - | - |
How Carbon Intensive is Canara Bank's Industry?
How Carbon Intensive is Canara Bank's Location?
Canara Bank's Climate Goals (2030 & 2050)
Climate goals typically focus on 2030 interim targets and 2050 net-zero commitments, aligned with global frameworks like the Paris Agreement and Science Based Targets initiative (SBTi) to ensure alignment with global climate goals.
Canara Bank has not publicly committed to specific 2030 or 2050 climate goals through the major frameworks we track. Companies often set interim 2030 targets and long-term 2050 net-zero goals to demonstrate measurable progress toward decarbonization.
