Idfc First Bank Sustainability Profile
IDFC First Bank, headquartered in India, is a prominent player in the banking and financial services industry. Established in 2015, the bank emerged from the merger of IDFC Bank and Capital First, marking a significant milestone in the Indian banking landscape. With a strong presence in major operational regions across the country, IDFC First Bank focuses on retail banking, wholesale banking, and financial services. The bank offers a diverse range of core products and services, including savings accounts, personal loans, and business financing, distinguished by its customer-centric approach and innovative digital solutions. IDFC First Bank has quickly established itself as a trusted financial partner, earning accolades for its commitment to sustainable banking practices and financial inclusion. With a growing market position, it continues to enhance its offerings, catering to the evolving needs of its customers.
DitchCarbon Score
How does Idfc First 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
Idfc First Bank's score of 31 is higher than 51% of the industry. This can give you a sense of how well the company is doing compared to its peers.
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Idfc First Bank's reported carbon emissions
In 2023, IDFC First Bank reported total carbon emissions of approximately 39,404,200 kg CO2e, with emissions distributed across various scopes: 566,650 kg CO2e from Scope 1, 36,270,070 kg CO2e from Scope 2, and 39,404,200 kg CO2e from Scope 3. The combined emissions from Scope 1 and 2 amounted to about 36,836,720 kg CO2e. For the previous year, 2022, the bank's emissions were significantly lower, with Scope 1 emissions at 291,100 kg CO2e, Scope 2 at 24,821,400 kg CO2e, and Scope 3 at 2,332,000 kg CO2e, leading to a total of approximately 25,112,500 kg CO2e for Scope 1 and 2 combined. IDFC First Bank has set ambitious climate commitments, aiming for a 20% share of renewable energy in its energy mix by 2025 for large offices, applicable to both Scope 1 and Scope 2 emissions. The bank is currently conducting a detailed TCFD assessment to evaluate risks and opportunities related to climate change, with a focus on achieving net-zero targets in the near term for both Scope 1 and Scope 2 emissions. The bank's emissions data is not cascaded from any parent organization, indicating that the reported figures are independently sourced from IDFC First Bank Limited.
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| 2022 | 2023 | |
|---|---|---|
| Scope 1 | 291,100 | 000,000 |
| Scope 2 | 24,821,400 | 00,000,000 |
| Scope 3 | 2,332,000 | 00,000,000 |
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Idfc First 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.
Idfc First 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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