Hang Seng Bank Sustainability Profile
Hang Seng Bank Limited, commonly known as Hang Seng Bank, is a prominent financial institution headquartered in Hong Kong (HK). Established in 1933, the bank has grown to become a key player in the banking and financial services industry, primarily serving the Hong Kong and Greater China regions. With a diverse portfolio, Hang Seng Bank offers a range of core products and services, including personal banking, commercial banking, wealth management, and insurance. Its commitment to innovation and customer-centric solutions sets it apart in a competitive market. Recognised for its strong market position, Hang Seng Bank has achieved numerous accolades, reflecting its dedication to excellence and sustainable growth. As a subsidiary of HSBC Holdings, it continues to leverage its extensive network and expertise to deliver exceptional financial services.
DitchCarbon Score
How does Hang Seng 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
Hang Seng Bank's score of 41 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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Hang Seng Bank's reported carbon emissions
In 2024, Hang Seng Bank, headquartered in Hong Kong (HK), reported total carbon emissions of approximately 13,249,620 kg CO2e. This figure includes Scope 1 emissions of about 116,550 kg CO2e, primarily from stationary and mobile combustion, and Scope 2 emissions of approximately 12,258,690 kg CO2e, mainly from purchased electricity. Additionally, the bank's Scope 3 emissions, which encompass business travel, amounted to around 874,380 kg CO2e. Comparatively, in 2023, the bank's total emissions were about 14,557,260 kg CO2e, indicating a reduction in emissions year-on-year. The breakdown for 2023 included Scope 1 emissions of approximately 137,870 kg CO2e, Scope 2 emissions of about 13,565,130 kg CO2e, and Scope 3 emissions of around 854,260 kg CO2e. Hang Seng Bank has committed to near-term emissions reduction targets, although it has not set a net-zero target as of now. The bank's climate commitments are part of a broader strategy within the financial sector, which is increasingly focused on sustainability and reducing carbon footprints. Notably, the bank's emissions data is cascaded from its parent company, HSBC Holdings plc, reflecting its alignment with industry standards and practices. Overall, Hang Seng Bank is actively working towards reducing its carbon emissions while adhering to the commitments set forth by its corporate family, contributing to the global effort against climate change.
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| 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | |
|---|---|---|---|---|---|---|---|---|
| Scope 1 | 54,400 | 00,000 | 000,000 | 000,000 | 000,000 | 00,000 | 000,000 | 000,000 |
| Scope 2 | 23,936,000 | 00,000,000 | 00,000,000 | 00,000,000 | 00,000,000 | 00,000,000 | 00,000,000 | 00,000,000 |
| Scope 3 | 637,820 | 000,000 | 000,000 | 000,000 | 000,000 | 000,000 | 000,000 | 000,000 |
How Carbon Intensive is Hang Seng Bank's Industry?
How Carbon Intensive is Hang Seng Bank's Location?
Hang Seng Bank's Scope 3 Categories Breakdown
Hang Seng Bank's Scope 3 emissions, which increased by 121% last year and increased by approximately 34% since 2016, demonstrating supply chain emissions tracking. Their carbon footprint includes suppliers and value chain emissions, with Scope 3 emissions accounting for 6% of total emissions under the GHG Protocol, with "Business Travel" being the largest emissions source at 68% of Scope 3 emissions.
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Hang Seng 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.
Hang Seng 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.
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Frequently Asked Questions
Common questions about Hang Seng Bank's sustainability data and climate commitments