Masreq Bank

Mashreq Bank, a financial intermediation services provider based in the UAE, has reported its carbon emissions and committed to reduction targets.

For 2025, Mashreq Bank reported Scope 1 emissions of approximately 5.21 million kg CO2e, Scope 2 emissions (location-based) of about 12.71 million kg CO2e, and Scope 3 emissions of approximately 95.84 million kg CO2e. In 2024, their Scope 1 emissions were around 7.26 million kg CO2e, Scope 2 (location-based) were about 13.09 million kg CO2e, and Scope 3 emissions were approximately 98.90 million kg CO2e.

Looking at 2023, the bank's Scope 1 emissions were approximately 2.96 million kg CO2e, while Scope 2 emissions (location-based) were around 12.54 million kg CO2e. Scope 3 emissions for 2023 were approximately 53 million kg CO2e, with specific categories including about 4.68 million kg CO2e from capital goods, 3.39 million kg CO2e from business travel, 6.28 million kg CO2e from employee commuting, 14.47 million kg CO2e from downstream leased assets, 23.55 million 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.

Mashreq Bank aims to reduce its Scope 1 emissions by 30% from 2023 levels by 2025. Similarly, it targets a 30% reduction in Scope 2 emissions from 2023 levels by 2025. The bank also has longer-term goals, aiming to reduce both Scope 1 and Scope 2 emissions by 30% from a 2023 baseline by 2030. Furthermore, Mashreq Bank is aligned with the UAE government's net-zero strategy and Federal Decree No. 11 of 2024, striving for a net-zero economy by 2050 for Scope 1 and Scope 2 emissions. Mashreqbank PSC has also committed to net-zero through the Science Based Targets initiative (SBTi).