Idfc First Bank

Idfc First Bank's reported carbon emissions

## IDFC First Bank: Carbon Emissions and Climate Commitments (IN) **For the financial year 2023 (reporting year 2023), IDFC First Bank reported total absolute emissions of approximately 53,637,000 kg CO2e.** This figure encompasses Scope 1, Scope 2, and Scope 3 emissions. **Breakdown of Emissions (FY2023):** * **Scope 1:** Approximately 566,000 kg CO2e. * **Scope 2:** Approximately 36,270,000 kg CO2e, primarily from purchased electricity. * **Scope 3:** Approximately 39,404,000 kg CO2e, with significant contributions from business travel (approximately 25,453,000 kg CO2e), employee commute (approximately 1,494,000 kg CO2e), and purchased goods and services (approximately 1,577,000 kg CO2e). **Year-on-Year Comparison:** * In the financial year 2022 (reporting year 2023), the bank's Scope 1 and 2 emissions intensity per rupee of turnover was approximately 9.6 kg CO2e. * For the financial year 2023, the Scope 1 and 2 emissions intensity per unit of revenue (USD) was approximately 0.0207 kg CO2e. **Climate Commitments and Reduction Initiatives:** IDFC First Bank is actively engaged in efforts to manage its climate impact. The bank has set a target to achieve **20% of renewable energy in its energy mix by 2025 for large offices**. This initiative covers both Scope 1 and Scope 2 emissions. Furthermore, the bank is undertaking a detailed Task Force on Climate-related Financial Disclosures (TCFD) assessment to understand and manage its climate-related risks and opportunities. While specific absolute reduction targets beyond the renewable energy initiative are not detailed, the bank's commitment to a TCFD assessment indicates a forward-looking approach to integrating climate considerations into its operations. The latest available emissions data for 2024 shows no disclosed emissions, suggesting reporting is based on the most recently completed financial year.