Hang Seng Bank

Hang Seng Bank, a Hong Kong-headquartered financial institution, has disclosed its carbon emissions and climate commitments.

In 2023, Hang Seng Bank reported total emissions of approximately 14,557,260 kg CO2e. This included Scope 1 emissions of 137,870 kg CO2e, Scope 2 emissions of 13,565,130 kg CO2e (primarily from purchased electricity), and Scope 3 emissions of 854,260 kg CO2e. Key contributors to Scope 3 emissions were business travel (578,230 kg CO2e) and fuel and energy-related activities (260,020 kg CO2e).

The bank has demonstrated a downward trend in emissions since 2020. In 2022, total emissions were approximately 15,479,790 kg CO2e, comprising Scope 1 emissions of 100,580 kg CO2e, Scope 2 emissions of 14,992,890 kg CO2e, and Scope 3 emissions of 386,320 kg CO2e. This followed 2021 emissions of approximately 16,411,020 kg CO2e (70,160 kg CO2e Scope 1, 15,973,040 kg CO2e Scope 2, and 367,810 kg CO2e Scope 3) and 2020 emissions of approximately 19,571,590 kg CO2e (144,520 kg CO2e Scope 1, 18,904,470 kg CO2e Scope 2, and 522,600 kg CO2e Scope 3). Historically, 2019 saw emissions of approximately 20,926,670 kg CO2e (193,870 kg CO2e Scope 1, 19,865,000 kg CO2e Scope 2, and 867,800 kg CO2e Scope 3), and 2018 emissions were approximately 21,610,840 kg CO2e (192,200 kg CO2e Scope 1, 20,514,000 kg CO2e Scope 2, and 904,640 kg CO2e Scope 3).

Hang Seng Bank has committed to near-term and long-term Science Based Targets (SBTi), as confirmed in July 2022. While its near-term target status is "Committed," previous commitments have been removed or withdrawn. Hang Seng Bank's RE100 initiative participation is cascaded from its ultimate parent, HSBC Holdings plc.

For 2024, specific emissions data for Hang Seng Bank are not yet available.