Kotak Mahindra Bank

Kotak Mahindra Bank's reported carbon emissions

Kotak Mahindra Bank, a financial intermediation services provider headquartered in India, has reported its carbon emissions and climate-related data. For fiscal year 2023, the bank reported approximately 12.21 million kg CO2e for Scope 1 emissions and approximately 80.48 million kg CO2e for Scope 2 (location-based) emissions. Scope 3 emissions for fiscal year 2023 were also disclosed, with significant contributions from capital goods (approximately 41.19 million kg CO2e) and fuel and energy-related activities (approximately 23.46 million kg CO2e). Other disclosed Scope 3 categories for that year include upstream leased assets (approximately 6.29 million kg CO2e), business travel (approximately 5.28 million kg CO2e), purchased goods and services (approximately 0.75 million kg CO2e), and employee commute (approximately 0.08 million kg CO2e). In fiscal year 2022, Kotak Mahindra Bank reported approximately 7.82 million kg CO2e for Scope 1 emissions and approximately 76.06 million kg CO2e for Scope 2 (market-based and location-based) emissions. Scope 3 emissions for 2022 included capital goods at approximately 28.05 million kg CO2e and fuel and energy-related activities at approximately 19.94 million kg CO2e. Historical data shows Scope 1 and Scope 2 emissions for fiscal year 2021 totalling approximately 13.36 million kg CO2e. In fiscal year 2020, these combined emissions were approximately 7.57 million kg CO2e. For fiscal year 2019, Scope 1 emissions were approximately 0.07 million kg CO2e and Scope 2 emissions were approximately 77.75 million kg CO2e. Prior to 2019, emissions were reported as combined Scope 1 and 2 totals. For fiscal year 2018, this figure was approximately 22.03 million kg CO2e, and for fiscal year 2017, it was approximately 21.74 million kg CO2e. In fiscal year 2016, the combined Scope 1 and 2 emissions were approximately 17.07 million kg CO2e, and in fiscal year 2015, approximately 15.17 million kg CO2e. For fiscal year 2014, Scope 1 emissions were approximately 0.06 million kg CO2e and Scope 2 emissions were approximately 14.00 million kg CO2e. The bank's disclosed data for fiscal year 2024 indicates the availability of Scope 1 and Scope 2 emission intensity metrics, such as approximately 0.0034 kg CO2e per rupee of turnover adjusted for Purchasing Power Parity (PPP) and 1210.0 kg CO2e per employee. Kotak Mahindra Bank has not publicly disclosed specific quantitative reduction targets or participation in initiatives such as the Science Based Targets initiative (SBTi) or the Climate Pledge.