Masreq Bank

Mashreq Bank, headquartered in the UAE and operating in financial intermediation services, has reported its carbon emissions and set reduction targets. In 2025, the bank's Scope 1 emissions were 5,206,160 kg CO2e, Scope 2 emissions (location-based) were 12,712,010 kg CO2e, and Scope 3 emissions were 95,844,970 kg CO2e. For 2024, Scope 1 emissions were 7,261,460 kg CO2e, Scope 2 (location-based) were 13,092,090 kg CO2e, and Scope 3 emissions were 98,898,730 kg CO2e.

Looking back to 2023, Mashreq Bank's Scope 1 emissions were 2,956,030 kg CO2e, and Scope 2 emissions (location-based) were 12,537,190 kg CO2e. Their Scope 3 emissions for 2023 totalled 53,000,000 kg CO2e, including 4,681,270 kg CO2e from capital goods, 3,388,190 kg CO2e from business travel, 6,277,290 kg CO2e from employee commuting, 14,472,200 kg CO2e from downstream leased assets, 23,545,130 kg CO2e from purchased goods and services, 14,820 kg CO2e from waste generated in operations, and 621,090 kg CO2e from fuel and energy-related activities.

The bank is committed to ambitious climate action. Mashreq Bank aims to reduce its Scope 1 emissions by 30% from 2023 levels by 2025 and also by 30% by 2030 from a 2023 baseline. Similarly, it targets a 30% reduction in Scope 2 emissions from 2023 levels by 2025, and a further 30% reduction by 2030 from a 2023 baseline.

Mashreq Bank has also committed to long-term net-zero goals, aligning with the UAE government’s strategy and Federal Decree No.11 of 2024, striving for a net-zero economy by 2050 for both Scope 1 and Scope 2 emissions. Additionally, Mashreqbank PSC has made a net-zero commitment with the Science Based Targets initiative (SBTi) for all scopes, aiming for net-zero by 2050.