Credem Sustainability Profile
Credem, officially known as Credito Emiliano S.p.A., is a prominent player in the Italian banking sector, headquartered in Reggio Emilia, Italy. Founded in 1910, the bank has established a strong presence across various regions in Italy, offering a comprehensive range of financial services. Specialising in retail and corporate banking, Credem provides unique products such as innovative savings accounts, investment solutions, and tailored financing options. The bank is recognised for its commitment to customer service and digital transformation, positioning itself as a leader in the industry. With a focus on sustainable growth and community support, Credem has achieved notable milestones, including consistent rankings among Italy's top banks. Its dedication to quality and innovation continues to enhance its market position, making it a trusted choice for individuals and businesses alike.
DitchCarbon Score
How does Credem'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
Credem's score of 49 is higher than 68% of the industry. This can give you a sense of how well the company is doing compared to its peers.
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Credem's reported carbon emissions
In 2023, Credem reported total carbon emissions of approximately 3,586,300 kg CO2e, with emissions distributed across various scopes: 2,723,700 kg CO2e (Scope 1), 620,000 kg CO2e (Scope 2, market-based), and a significant 3,582,302,600 kg CO2e (Scope 3). The Scope 3 emissions primarily stem from investments (about 3,580,241,300 kg CO2e) and business travel (approximately 1,823,000 kg CO2e). Comparatively, in 2022, the total emissions were about 3,579,100 kg CO2e, with Scope 1 emissions at 2,831,000 kg CO2e, Scope 2 emissions at 847,900 kg CO2e (market-based), and Scope 3 emissions reaching approximately 3,179,254,100 kg CO2e. This indicates a slight increase in emissions from 2022 to 2023. Credem's emissions data is cascaded from its parent company, Credito Emiliano S.p.A., which provides a comprehensive overview of the organisation's carbon footprint. However, there are currently no specific reduction targets or climate pledges reported, indicating a potential area for future commitment. Overall, Credem's emissions profile highlights the significant impact of Scope 3 emissions, particularly from investments, underscoring the importance of addressing these areas in their climate strategy.
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| 2016 | 2017 | 2018 | 2020 | 2021 | 2022 | 2023 | |
|---|---|---|---|---|---|---|---|
| Scope 1 | 2,867,300 | 0,000,000 | 0,000,000 | 0,000,000 | 0,000,000 | 0,000,000 | 0,000,000 |
| Scope 2 | 965,600 | 000,000 | 000,000 | 000,000 | 000,000 | 000,000 | 000,000 |
| Scope 3 | 3,881,900 | 0,000,000 | 0,000,000 | 0,000,000 | 0,000,000,000 | 0,000,000,000 | 0,000,000,000 |
How Carbon Intensive is Credem's Industry?
How Carbon Intensive is Credem's Location?
Credem's Scope 3 Categories Breakdown
Credem's Scope 3 emissions, which increased by 13% last year and increased significantly since 2016, demonstrating supply chain emissions tracking. Nearly all of their carbon footprint comes from suppliers and value chain emissions, representing nearly all emissions under the GHG Protocol, with "Investments" being the largest emissions source at 100% of Scope 3 emissions.
Top Scope 3 Categories
Credem'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.
Credem 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.
