Firstrand Sustainability Profile
FirstRand Limited, commonly known as FirstRand, is a leading financial services group headquartered in South Africa (ZA). Established in 1998, the company has grown to become a prominent player in the banking and financial services industry, with significant operations across Southern Africa and select international markets. FirstRand offers a diverse range of products and services, including retail and commercial banking, investment banking, and insurance solutions. Its unique approach combines innovative technology with customer-centric services, setting it apart in a competitive landscape. The group is renowned for its strong market position, consistently achieving notable milestones, such as being one of the largest financial institutions in Africa. With a commitment to sustainable growth and community development, FirstRand continues to enhance its reputation as a trusted financial partner, driving economic progress in the regions it serves.
DitchCarbon Score
How does Firstrand'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
Firstrand's score of 25 is lower than 67% of the industry. This can give you a sense of how well the company is doing compared to its peers.
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Firstrand's reported carbon emissions
In 2023, FirstRand reported total carbon emissions of approximately 1,186,543,000 kg CO2e, with Scope 1 emissions accounting for the entirety of this figure, as no Scope 2 or Scope 3 data was disclosed. The previous year, 2022, saw a higher Scope 1 emission total of about 1,882,738,000 kg CO2e, indicating a significant reduction in emissions year-on-year. FirstRand's emissions data is not cascaded from a parent company, and they have not set specific reduction targets under the Science Based Targets initiative (SBTi) or other frameworks. The company has disclosed upstream emissions data related to financed emissions, including intensities for corporate and investment banking, agriculture, and coal mining, but lacks comprehensive Scope 2 and Scope 3 emissions reporting. Overall, FirstRand's climate commitments appear to be in the early stages, with no formal reduction initiatives or pledges currently documented. The focus remains on understanding and managing their direct emissions while exploring the broader impact of their financing activities.
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| 2008 | 2020 | 2021 | 2022 | 2023 | |
|---|---|---|---|---|---|
| Scope 1 | 67,000 | 0,000,000 | 0,000,000 | 0,000,000,000 | 0,000,000,000 |
| Scope 2 | - | 000,000,000 | 000,000,000 | - | - |
| Scope 3 | 144,000 | 00,000,000 | 0,000,000 | - | - |
How Carbon Intensive is Firstrand's Industry?
How Carbon Intensive is Firstrand's Location?
Firstrand's Scope 3 Categories Breakdown
Firstrand's Scope 3 emissions, which decreased by 64% last year and increased significantly since 2008, demonstrating supply chain emissions tracking. Their carbon footprint includes suppliers and value chain emissions, with Scope 3 emissions accounting for 4% of total emissions under the GHG Protocol, with "Fuel and Energy Related Activities" being the largest emissions source at 59% of Scope 3 emissions.
Top Scope 3 Categories
Firstrand'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.
Firstrand 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.
