Gulf Bank of Kuwait Sustainability Profile
Gulf Bank of Kuwait, often referred to simply as Gulf Bank, is a prominent financial institution headquartered in Kuwait City, KW. Established in 1960, the bank has played a pivotal role in the Kuwaiti banking sector, offering a wide range of services including retail banking, corporate banking, and investment solutions. With a strong focus on customer-centric products, Gulf Bank is renowned for its innovative digital banking services and personalised financial solutions. The bank has consistently achieved significant milestones, including numerous awards for excellence in customer service and digital transformation. As a key player in the Middle Eastern banking industry, Gulf Bank of Kuwait continues to strengthen its market position through strategic initiatives and a commitment to enhancing the banking experience for its clients.
DitchCarbon Score
How does Gulf Bank of Kuwait'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
Gulf Bank of Kuwait's score of 23 is lower than 65% of the industry. This can give you a sense of how well the company is doing compared to its peers.
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Gulf Bank of Kuwait's reported carbon emissions
In 2022, Gulf Bank of Kuwait reported total carbon emissions of approximately 11,085,300 kg CO2e for Scope 2 and 7,832,470 kg CO2e for Scope 3. Specifically, Scope 1 emissions were recorded at about 35,260 kg CO2e. The bank's Scope 3 emissions included significant contributions from employee commuting (approximately 7,119,400 kg CO2e) and downstream transportation and distribution (about 712,760 kg CO2e). Gulf Bank has set ambitious climate commitments, aiming to reduce its Scope 1 and Scope 2 emissions to near zero by 2025. This target reflects the bank's commitment to achieving net-zero emissions in the near term, with a focus on reducing its operational carbon footprint. The bank's emissions data is not cascaded from any parent organization, indicating that these figures are independently reported. Gulf Bank's proactive approach to climate action aligns with industry standards and reflects a growing recognition of the importance of sustainability in the financial sector.
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| 2022 | |
|---|---|
| Scope 1 | 35,260 |
| Scope 2 | 11,085,300 |
| Scope 3 | 7,832,470 |
How Carbon Intensive is Gulf Bank of Kuwait's Industry?
How Carbon Intensive is Gulf Bank of Kuwait's Location?
Gulf Bank of Kuwait's Scope 3 Categories Breakdown
A significant portion of their carbon footprint comes from suppliers and value chain emissions, with Scope 3 emissions accounting for 41% of total emissions under the GHG Protocol, with "Employee Commuting" being the largest emissions source at 91% of Scope 3 emissions.
Top Scope 3 Categories
Gulf Bank of Kuwait'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.
Gulf Bank of Kuwait 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.
