Hang Seng Bank
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 34 is higher than 83% of the industry. This can give you a sense of how well the company is doing compared to its peers.
Hang Seng Bank's reported carbon emissions
In 2023, Hang Seng Bank reported total carbon emissions of approximately 13,787,000 kg CO2e. This figure includes Scope 1 emissions of about 137,870 kg CO2e, primarily from mobile and stationary combustion, and Scope 2 emissions of approximately 13,565,130 kg CO2e from purchased electricity. Additionally, the bank's Scope 3 emissions totalled around 854,260 kg CO2e, with significant contributions from business travel and fuel-related activities. Over recent years, Hang Seng Bank has demonstrated a commitment to reducing its carbon footprint. For instance, from 2022 to 2023, the bank achieved a reduction in total emissions from approximately 15,480,000 kg CO2e to 13,787,000 kg CO2e. This reflects a broader trend of decreasing emissions, with a notable reduction in Scope 2 emissions from about 14,993,000 kg CO2e in 2022. While the bank has set long-term reduction targets, it has not committed to a net-zero target as of now. The bank's near-term targets are classified as "Committed," indicating ongoing efforts to enhance its sustainability practices. Hang Seng Bank operates within the financial sector in Hong Kong and continues to align its operations with industry standards for climate action.
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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 |
Industry emissions intensity
Location emissions intensity
Reduction initiatives & disclosure networks
Companies disclose and commit to reducing emissions to show they are serious about reducing emissions impact over time. They can also help a company track its progress over time.
Hang Seng Bank is committed to some reduction initiatives we track. This may change over time as the company engages with new initiatives or updates its commitments. DitchCarbon will update this information as it becomes available.
