Housing Development Finance Corporation Limited Sustainability Profile
Housing Development Finance Corporation Limited (HDFC) is a leading financial institution headquartered in India, primarily serving the housing finance sector. Established in 1977, HDFC has played a pivotal role in promoting home ownership across the country, with a strong presence in major urban and semi-urban regions. Specialising in housing loans, HDFC offers a range of products including home loans, loan against property, and insurance services. Its unique approach combines competitive interest rates with personalised customer service, setting it apart in the industry. Over the years, HDFC has achieved significant milestones, including being the first mortgage company in India to be listed on the stock exchange. With a robust market position, HDFC is recognised for its commitment to innovation and customer satisfaction, making it a trusted name in housing finance.
DitchCarbon Score
How does Housing Development Finance Corporation Limited'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 Services Auxiliary to 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
Housing Development Finance Corporation Limited's score of 22 is lower than 82% of the industry. This can give you a sense of how well the company is doing compared to its peers.
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Housing Development Finance Corporation Limited's reported carbon emissions
In 2023, Housing Development Finance Corporation Limited (HDFC) reported total carbon emissions of approximately 24,856,590 kg CO2e. This figure includes 3,981,440 kg CO2e from Scope 1 emissions, which encompass direct emissions from owned or controlled sources, and 11,903,120 kg CO2e from Scope 2 emissions, primarily from purchased electricity. Additionally, HDFC's Scope 3 emissions, which cover indirect emissions from the value chain, amounted to 8,972,030 kg CO2e. Comparatively, in 2022, HDFC's total emissions were about 21,817,510 kg CO2e, with Scope 1 emissions at 3,115,380 kg CO2e and Scope 2 emissions at 11,700,080 kg CO2e. The Scope 3 emissions for that year were 7,541,530 kg CO2e. This indicates a significant increase in total emissions from 2022 to 2023. HDFC has not set specific reduction targets or climate pledges, as indicated by the absence of documented reduction initiatives or commitments to the Science Based Targets initiative (SBTi). The emissions data is cascaded from the parent organization, reflecting a merged entity structure, with all figures sourced directly from HDFC. Overall, HDFC's emissions profile highlights the need for enhanced climate commitments and reduction strategies to align with global sustainability goals.
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| 2020 | 2021 | 2022 | 2023 | |
|---|---|---|---|---|
| Scope 1 | 1,340,100 | 0,000,000 | 0,000,000 | 0,000,000 |
| Scope 2 | 2,864,600 | 00,000,000 | 00,000,000 | 00,000,000 |
| Scope 3 | 1,013,700 | 0,000,000 | 0,000,000 | 0,000,000 |
How Carbon Intensive is Housing Development Finance Corporation Limited's Industry?
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Housing Development Finance Corporation Limited's Scope 3 Categories Breakdown
Housing Development Finance Corporation Limited's Scope 3 emissions, which increased by 19% last year and increased by approximately 785% since 2020, demonstrating supply chain emissions tracking. A significant portion of their carbon footprint comes from suppliers and value chain emissions, with Scope 3 emissions accounting for 36% of total emissions under the GHG Protocol, with "Employee Commuting" being the largest emissions source at 22% of Scope 3 emissions.
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Housing Development Finance Corporation Limited'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.
Housing Development Finance Corporation Limited 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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