Masreq Bank
Masreq Bank, officially known as Mashreqbank PSC, is a leading financial institution headquartered in the United Arab Emirates (AE). Established in 1967, it has grown to become one of the oldest private banks in the region, with a strong presence across the Middle East and North Africa. Operating primarily in the banking and financial services industry, Masreq Bank offers a diverse range of products, including retail banking, corporate banking, and investment services. Its innovative digital banking solutions set it apart, catering to the evolving needs of its customers. With a commitment to excellence, Masreq Bank has achieved numerous accolades, solidifying its position as a trusted financial partner. Its focus on customer-centric services and technological advancements continues to drive its success in a competitive market.
DitchCarbon Score
How does Masreq Bank's carbon action stack up? DitchCarbon scores companies based on their carbon action and commitment to reducing emissions. Read about our methodology to learn more.
Industry Average
Mean score of companies in the Financial Intermediation industry. Comparing a company's score to the industry average can give you a sense of how well the company is doing compared to its peers.
Industry Benchmark
Masreq Bank's score of 37 is higher than 86% of the industry. This can give you a sense of how well the company is doing compared to its peers.
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Masreq Bank's reported carbon emissions
In 2023, Masreq Bank reported total carbon emissions of approximately 9,588,640 kg CO2e. This figure includes 73,730 kg CO2e from Scope 1 emissions, which primarily arise from direct operations, and about 9,247,260 kg CO2e from Scope 2 emissions, related to purchased electricity and cooling. Additionally, the bank's Scope 3 emissions were approximately 267,650 kg CO2e, which encompass indirect emissions from its value chain. Comparatively, in 2022, Masreq Bank's total emissions were about 13,479,210 kg CO2e, indicating a significant reduction in emissions over the year. The bank's Scope 1 and 2 emissions combined totalled approximately 9,320,990 kg CO2e in 2023, down from 13,365,490 kg CO2e in 2022. Masreq Bank has committed to achieving net-zero emissions by 2050, aligning with the Science Based Targets initiative (SBTi). This long-term commitment encompasses all scopes of emissions, reflecting the bank's dedication to sustainable practices within the financial sector. The bank's near-term targets are currently classified as "Committed," indicating a proactive approach to reducing its carbon footprint. Overall, Masreq Bank's emissions data and climate commitments demonstrate a clear trajectory towards sustainability, with substantial reductions achieved in recent years and a firm commitment to future climate goals.
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| 2020 | 2021 | 2022 | 2023 | |
|---|---|---|---|---|
| Scope 1 | 16,150 | 00,000 | 00,000 | 00,000 |
| Scope 2 | 7,732,180 | 00,000,000 | 00,000,000 | 0,000,000 |
| Scope 3 | 24,540 | 000,000 | 000,000 | 000,000 |
Industry emissions intensity
Location emissions intensity
Reduction initiatives & disclosure networks
Companies disclose and commit to reducing emissions to show they are serious about reducing emissions impact over time. They can also help a company track its progress over time.
Masreq Bank is participating in some of the initiatives that we track. This may change over time as the company engages with new initiatives or updates its commitments. DitchCarbon will update this information as it becomes available.
