Commercial Bank Of Ceylon Sustainability Profile
Commercial Bank of Ceylon PLC, often referred to as ComBank, is a leading financial institution headquartered in Colombo, Sri Lanka (LK). Established in 1969, it has grown to become one of the largest private banks in the country, with a significant presence in both local and international markets, including Bangladesh. Operating within the banking and financial services industry, ComBank offers a comprehensive range of products and services, including retail banking, corporate banking, and treasury operations. Its unique approach to customer service and innovative digital banking solutions have set it apart in a competitive landscape. With a strong market position, Commercial Bank of Ceylon has received numerous accolades for its performance and commitment to excellence, solidifying its reputation as a trusted financial partner in the region.
DitchCarbon Score
How does Commercial Bank Of Ceylon'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
Commercial Bank Of Ceylon's score of 39 is higher than 60% of the industry. This can give you a sense of how well the company is doing compared to its peers.
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Commercial Bank Of Ceylon's reported carbon emissions
In 2023, Commercial Bank of Ceylon reported total carbon emissions of approximately 6,431,000 kg CO2e, comprising 850,000 kg CO2e from Scope 1 and 5,581,000 kg CO2e from Scope 2 emissions. This marks a significant reduction from 2022, where emissions were about 8,496,000 kg CO2e, with Scope 1 at 1,880,000 kg CO2e and Scope 2 at 6,496,000 kg CO2e. Over the past few years, the bank has demonstrated a commitment to reducing its carbon footprint. In 2021, emissions were approximately 8,074,000 kg CO2e, with Scope 1 at 1,203,000 kg CO2e and Scope 2 at 7,144,000 kg CO2e. The trend indicates a proactive approach to emissions management, although specific reduction targets or initiatives have not been disclosed. The bank does not currently report Scope 3 emissions, which encompass indirect emissions from the value chain. Furthermore, there are no specific science-based targets (SBTi) or documented climate pledges available, indicating a potential area for future commitment. Overall, Commercial Bank of Ceylon's emissions data reflects a positive trajectory towards sustainability, with a notable decrease in emissions over the past two years.
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| 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | |
|---|---|---|---|---|---|---|---|
| Scope 1 | 1,305,000 | 0,000,000 | 0,000,000 | 0,000,000 | 0,000,000 | 0,000,000 | 000,000 |
| Scope 2 | 12,395,000 | 00,000,000 | 00,000,000 | 0,000,000 | 0,000,000 | 0,000,000 | 0,000,000 |
| Scope 3 | - | - | - | - | - | - | - |
How Carbon Intensive is Commercial Bank Of Ceylon's Industry?
How Carbon Intensive is Commercial Bank Of Ceylon's Location?
Commercial Bank Of Ceylon'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.
Commercial Bank Of Ceylon has established climate goals through participation in recognized frameworks and target-setting initiatives. Companies often set interim 2030 targets and long-term 2050 net-zero goals to demonstrate measurable progress toward decarbonization.
