Equitas Small Finance Bank Sustainability Profile
Equitas Small Finance Bank, headquartered in India, is a prominent player in the banking industry, focusing on providing financial services to underserved segments of the population. Established in 2016, the bank has rapidly expanded its operations across various regions, including Tamil Nadu, Maharashtra, and Gujarat, catering to the needs of both urban and rural customers. The bank offers a diverse range of products, including savings accounts, fixed deposits, and microfinance solutions, distinguished by their customer-centric approach and competitive interest rates. Equitas Small Finance Bank has achieved significant milestones, such as receiving the Best Small Finance Bank award, reflecting its commitment to financial inclusion and innovation. With a strong market position, it continues to enhance its services, making banking accessible and affordable for all.
DitchCarbon Score
How does Equitas Small Finance 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
Equitas Small Finance Bank's score of 23 is lower than 71% of the industry. This can give you a sense of how well the company is doing compared to its peers.
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Equitas Small Finance Bank's reported carbon emissions
In 2023, Equitas Small Finance Bank reported total carbon emissions of approximately 568,270 kg CO2e, comprising 133,090 kg CO2e from Scope 1 and 435,180 kg CO2e from Scope 2 emissions. This data reflects their operational impact and is crucial for understanding their carbon footprint. The bank has not disclosed any Scope 3 emissions data. For the previous year, 2022, the bank's emissions were slightly higher, totalling about 578,930 kg CO2e, with 138,400 kg CO2e from Scope 1 and 440,530 kg CO2e from Scope 2. This indicates a minor reduction in emissions from 2022 to 2023. Equitas Small Finance Bank has not set specific reduction targets or climate pledges, nor do they have any initiatives reported under the Science Based Targets initiative (SBTi). Their emissions data is not cascaded from a parent company, indicating that the figures are independently reported. The bank's emissions intensity per rupee of turnover for 2023 was approximately 0.0000145 kg CO2e, and in terms of employee output, it was about 340 kg CO2e per employee. These metrics provide insight into their operational efficiency concerning carbon emissions. Overall, while Equitas Small Finance Bank has made strides in tracking and reporting their emissions, further commitments and reduction targets would enhance their climate strategy and align with global sustainability goals.
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| 2022 | 2023 | |
|---|---|---|
| Scope 1 | 138,400 | 000,000 |
| Scope 2 | 440,530 | 000,000 |
| Scope 3 | - | - |
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Equitas Small Finance 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.
Equitas Small Finance 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.
