China Citic Bank Sustainability Profile
China CITIC Bank Corporation Limited, commonly known as China CITIC Bank, is a prominent financial institution headquartered in Hong Kong. Established in 1987, the bank has grown to become a key player in the banking industry, primarily serving the Asia-Pacific region with a strong presence in mainland China. Specialising in corporate banking, personal banking, and wealth management, China CITIC Bank offers a diverse range of products and services, including loans, deposits, and investment solutions. Its commitment to innovation and customer service distinguishes it from competitors, making it a preferred choice for both individual and corporate clients. With a robust market position, China CITIC Bank has achieved significant milestones, including recognition for its financial stability and growth. The bank continues to expand its influence, contributing to the evolving landscape of the global banking sector.
DitchCarbon Score
How does China Citic 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
China Citic Bank's score of 22 is lower than 82% of the industry. This can give you a sense of how well the company is doing compared to its peers.
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China Citic Bank's reported carbon emissions
In 2023, China Citic Bank reported significant carbon emissions, with Scope 1 emissions totalling approximately 56,480 kg CO2e, primarily from mobile combustion. The bank's Scope 2 emissions from purchased electricity were notably higher, amounting to about 3,107,180 kg CO2e in Hong Kong and approximately 147,616 kg CO2e in China. This brings the total Scope 1 and 2 emissions for the Hong Kong region to around 3,163,660 kg CO2e. Despite these figures, China Citic Bank has not set specific reduction targets or initiatives as part of its climate commitments. The bank's emissions data is not cascaded from a parent company, indicating that it operates independently in its reporting and climate strategies. The bank's previous year's data from 2022 shows a total of approximately 15,852,910 kg CO2e in Scope 1 and 2 emissions globally, highlighting a consistent level of emissions over the years. The absence of Scope 3 emissions data suggests a potential area for future reporting and improvement. Overall, while China Citic Bank has made strides in emissions reporting, the lack of defined reduction targets indicates an opportunity for enhanced climate action and commitment to sustainability.
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| 2017 | 2018 | 2021 | 2022 | |
|---|---|---|---|---|
| Scope 1 | 7,350,590 | 0,000,000 | 0,000,000 | 0,000,000 |
| Scope 2 | 188,521,200 | 000,000,000 | 000,000,000 | 000,000,000 |
| Scope 3 | - | - | - | - |
How Carbon Intensive is China Citic Bank's Industry?
How Carbon Intensive is China Citic Bank's Location?
China Citic 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.
China Citic 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.
