China Merchants Bank
China Merchants Bank (CMB), headquartered in Shenzhen, China, is a leading commercial bank in the Asia-Pacific region. Established in 1987, CMB has grown significantly, becoming a key player in the banking industry with a focus on retail banking, corporate banking, and wealth management services. The bank is renowned for its innovative financial products, including personal loans, credit cards, and investment services, which cater to a diverse clientele. CMB's commitment to digital banking solutions sets it apart, enhancing customer experience and operational efficiency. With a strong market position, CMB has received numerous accolades for its financial performance and customer service, solidifying its reputation as a trusted financial institution in China and beyond.
DitchCarbon Score
How does China Merchants 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 Services Auxiliary to 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 Merchants Bank's score of 32 is higher 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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China Merchants Bank's reported carbon emissions
In 2023, China Merchants Bank reported total carbon emissions of approximately 3,006,800,000 kg CO2e, comprising 22,100,000 kg CO2e from Scope 1, 427,700,000 kg CO2e from Scope 2, and 3,006,800,000 kg CO2e from Scope 3 emissions. The combined Scope 1 and 2 emissions totalled about 449,800,000 kg CO2e. Looking ahead, the bank has set ambitious reduction targets for its carbon emissions. By 2025, it aims to achieve a 20% reduction in Scope 1 emissions compared to 2023 levels, which would equate to a decrease of approximately 4,420,000 kg CO2e. Additionally, it plans to reduce Scope 2 emissions from purchased electricity by 4% over the same period, translating to a reduction of about 17,108,000 kg CO2e. These commitments reflect China Merchants Bank's proactive approach to addressing climate change and reducing its carbon footprint, aligning with industry standards for sustainability and environmental responsibility.
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| 2021 | 2022 | 2023 | |
|---|---|---|---|
| Scope 1 | 16,100,000 | 00,000,000 | 00,000,000 |
| Scope 2 | 391,500,000 | 000,000,000 | 000,000,000 |
| Scope 3 | 2,715,000,000 | 0,000,000,000 | 0,000,000,000 |
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.
China Merchants 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.
