Masreq Bank

Mashreq Bank, a financial intermediation services company headquartered in the UAE, reported its Scope 1 emissions for 2025 as approximately 5,206,160 kg CO2e, Scope 2 emissions as approximately 12,712,010 kg CO2e (location-based), and Scope 3 emissions as approximately 95,844,970 kg CO2e.

Looking back, in 2024, the bank's Scope 1 emissions were around 7,261,460 kg CO2e, Scope 2 (location-based) were about 13,092,090 kg CO2e, and Scope 3 emissions totalled approximately 98,898,730 kg CO2e. For 2023, Mashreq Bank recorded Scope 1 emissions of approximately 2,956,030 kg CO2e, Scope 2 (location-based) of about 12,537,190 kg CO2e, and Scope 3 emissions of approximately 53,000,000 kg CO2e.

Mashreq Bank has set ambitious climate commitments, aligning with the UAE government's net-zero strategy and Federal Decree No. 11 of 2024, striving for a net-zero economy by 2050 for both Scope 1 and Scope 2 emissions. In the near term, the bank aims to reduce its Scope 1 emissions by 30% from 2023 levels by 2025 and 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 30% reduction by 2030 from a 2023 baseline. Mashreq Bank has also committed to net-zero targets through the Science Based Targets initiative (SBTi) as of July 2023, committing to all scopes in the long term by 2050.