Public Profile

Commbank

Commonwealth Bank of Australia, often referred to as Commbank, is a leading financial institution headquartered in Sydney, Australia. Established in 1911, it has grown to become one of the largest banks in the country, serving millions of customers across Australia and internationally. Operating primarily in the banking and financial services industry, Commbank offers a diverse range of products, including personal and business banking, investment services, and insurance. Its innovative digital banking solutions set it apart, providing customers with seamless access to their finances. With a strong market position, Commbank has consistently been recognised for its commitment to customer service and technological advancement, earning accolades for its mobile banking app and online services. As a trusted name in finance, Commbank continues to shape the future of banking in Australia and beyond.

DitchCarbon Score

How does Commbank'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.

20

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.

26

Industry Benchmark

Commbank's score of 20 is higher than 89% of the industry. This can give you a sense of how well the company is doing compared to its peers.

89%

Commbank's reported carbon emissions

In 2023, Commbank reported total carbon emissions of approximately 67,433,000 kg CO2e globally, with emissions broken down into Scope 1 at about 7,891,000 kg CO2e, Scope 2 at approximately 12,000 kg CO2e, and Scope 3 at around 134,730,000 kg CO2e. In Australia, the bank's emissions for the same year were approximately 50,852,000 kg CO2e, with Scope 1 emissions at about 5,165,000 kg CO2e and Scope 3 emissions at approximately 45,687,000 kg CO2e. Over the years, Commbank has shown a trend of fluctuating emissions. For instance, in 2022, the total emissions were about 35,745,000 kg CO2e globally, with Scope 1 at approximately 6,667,000 kg CO2e and Scope 3 at around 76,643,000 kg CO2e. The bank's emissions peaked in 2020 at approximately 174,000,000 kg CO2e, primarily due to significant Scope 2 emissions of about 103,528,000 kg CO2e. Despite these figures, Commbank has not publicly committed to specific reduction targets or initiatives, as indicated by the absence of documented reduction targets or climate pledges. The bank's emissions intensity metrics, such as those related to power generation, suggest ongoing efforts to monitor and potentially reduce their carbon footprint, but no formal commitments have been disclosed. Overall, Commbank's emissions data reflects a complex landscape of carbon output, with significant contributions from both direct and indirect sources, highlighting the need for continued focus on climate commitments and reduction strategies.

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Add to project
201620172018201920202021202220232024
Scope 1
9,063,000
0,000,000
0,000,000
0,000,000
00,000,000
0,000,000
0,000,000
0,000,000
0,000,000
Scope 2
107,762,000
00,000,000
00,000,000
00,000,000
000,000,000
0,000,000
-
00,000
00,000
Scope 3
93,622,000
00,000,000
00,000,000
00,000,000
00,000,000
00,000,000
00,000,000
000,000,000
000,000,000

Industry emissions intensity

Very low
Low
Medium
High
Very high
Some industries are more carbon intensive than others. Commbank's primary industry is Financial intermediation services, except insurance and pension funding services (65), which is very low in terms of carbon intensity compared to other industries.

Location emissions intensity

Very low
Low
Medium
High
Very high
The carbon intensity of the energy grid powering a company's primary operations has a strong influence on its overall carbon footprint. Commbank is headquartered in AU, which has a rank of very high, indicating very high grid carbon 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.

Commbank is committed to some reduction initiatives 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.

SBTi
CDP
The Climate Pledge
UN Global Compact
Carbon Disclosure Project
The Climate Pledge
UN Global Compact

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Where does DitchCarbon data come from?

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