Hdfc

HDFC's climate commitments focus on achieving carbon neutrality for operational emissions by FY 2031-32. This near-term target for all scopes aims to lower emission intensity through enhanced energy efficiency, adoption of renewable energy, and responsible resource utilisation.

For the reporting year 2024, HDFC reported total emissions of approximately 650,000,000 kg CO2e. This comprised approximately 90,000,000 kg CO2e for Scope 1 emissions and approximately 500,000,000 kg CO2e for Scope 2 (market-based) emissions, contributing to a combined Scope 1 and 2 total of approximately 590,000,000 kg CO2e. Scope 3 emissions for 2024 amounted to approximately 60,000,000 kg CO2e, with notable contributions from business travel (approximately 14,426,780 kg CO2e) and upstream leased assets (approximately 44,232,160 kg CO2e).

In the preceding year, 2023, HDFC's total emissions were approximately 420,000,000 kg CO2e, calculated from Scope 1 emissions of approximately 30,000,000 kg CO2e and Scope 2 (market-based) emissions of approximately 310,000,000 kg CO2e, along with Scope 3 emissions of approximately 50,000,000 kg CO2e.

HDFC's reporting indicates a gradual increase in reported emissions from 2015 to 2018, followed by fluctuations in subsequent years. For instance, in 2020, total emissions were approximately 414,250,000 kg CO2e, with Scope 1 at approximately 7,649,000 kg CO2e, Scope 2 at approximately 390,176,000 kg CO2e, and Scope 3 at approximately 16,419,000 kg CO2e. Earlier data from 2017 shows Scope 1 emissions of approximately 6,800,000 kg CO2e, Scope 2 at approximately 495,500,000 kg CO2e, and Scope 3 at approximately 23,200,000 kg CO2e.

While specific absolute emission reduction targets beyond the carbon neutrality goal are not detailed, HDFC Bank's commitment to lowering emission intensity by FY 2031-32 reflects a strategic approach to environmental management within the financial intermediation services sector. No cascaded data from a parent organisation is indicated for HDFC.