Capitec Bank Sustainability Profile
Capitec Bank Holdings Limited, commonly known as Capitec, is a leading South African financial institution headquartered in Stellenbosch, ZA. Founded in 2001, Capitec has rapidly established itself as a key player in the banking industry, focusing on providing accessible and affordable banking solutions to a diverse clientele across the country. The bank's core offerings include personal banking, savings accounts, and innovative credit solutions, all designed to simplify financial management for its customers. Capitec's unique approach combines technology with a customer-centric model, enabling it to maintain a strong market position and achieve notable milestones, such as being recognised as one of South Africa's top banks in customer satisfaction. With a commitment to transparency and low fees, Capitec continues to redefine banking in South Africa.
DitchCarbon Score
How does Capitec 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
Capitec Bank's score of 30 is lower than 51% of the industry. This can give you a sense of how well the company is doing compared to its peers.
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Capitec Bank's reported carbon emissions
In 2023, Capitec Bank reported total carbon emissions of approximately 37,052,000 kg CO2e, with emissions distributed across various scopes. The breakdown includes Scope 1 emissions of about 1,000,000 kg CO2e, which consists of mobile combustion (16,000 kg CO2e), fugitive emissions (859,000 kg CO2e), and stationary combustion (475,000 kg CO2e). Scope 2 emissions, primarily from purchased electricity, accounted for approximately 31,284,000 kg CO2e. Additionally, Scope 3 emissions totalled around 2,054,000 kg CO2e, primarily from business travel and waste generated in operations. In 2022, the bank's total emissions were about 39,585,000 kg CO2e, indicating a slight reduction in 2023. The emissions for 2021 were reported at approximately 38,465,000 kg CO2e. Capitec Bank has not disclosed specific reduction targets or initiatives under the Science Based Targets initiative (SBTi) or other climate pledges, suggesting a need for further commitment in this area. The bank's emissions data is sourced directly from Capitec Bank Holdings Limited, with no cascaded data from a parent organization. Overall, while Capitec Bank has made some progress in reducing its carbon footprint, the absence of formal reduction targets highlights an opportunity for enhanced climate action.
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| 2021 | 2022 | 2023 | |
|---|---|---|---|
| Scope 1 | 973,000 | 000,000 | 0,000,000 |
| Scope 2 | 35,538,000 | 00,000,000 | 00,000,000 |
| Scope 3 | 1,332,000 | 0,000,000 | 0,000,000 |
How Carbon Intensive is Capitec Bank's Industry?
How Carbon Intensive is Capitec Bank's Location?
Capitec Bank's Scope 3 Categories Breakdown
Capitec Bank's Scope 3 emissions, which increased by 149% last year and increased by approximately 264% since 2021, demonstrating supply chain emissions tracking. Their carbon footprint includes suppliers and value chain emissions, with Scope 3 emissions accounting for 13% of total emissions under the GHG Protocol, with "Business Travel" being the largest emissions source at 42% of Scope 3 emissions.
Top Scope 3 Categories
Capitec 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.
Capitec 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.
