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 61% 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 reported total carbon emissions of approximately 13,249,620 kg CO2e, comprising 116,550 kg CO2e from Scope 1, 12,258,690 kg CO2e from Scope 2, and 874,380 kg CO2e from Scope 3 emissions. This represents a slight decrease from the previous year's total emissions of approximately 14,557,260 kg CO2e, which included 137,870 kg CO2e from Scope 1, 13,565,130 kg CO2e from Scope 2, and 854,260 kg CO2e from Scope 3. The bank has committed to near-term reduction targets, although specific numerical targets have not been disclosed. Notably, they have not yet committed to a net-zero target. The emissions data is cascaded from the parent company, Hang Seng Bank Limited, which is a current subsidiary of HSBC Holdings plc, indicating a corporate family relationship that influences their sustainability reporting. Hang Seng Bank's emissions reduction initiatives are part of a broader commitment to sustainability within the financial sector, aligning with industry standards and expectations for climate action. The bank continues to monitor and report its emissions, aiming for transparency and accountability in its environmental impact.
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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.
Top Scope 3 Categories
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