Mystate Sustainability Profile
Mystate Limited, commonly referred to as Mystate, is a prominent financial services provider headquartered in Australia. Established in 2006, the company has made significant strides in the banking and financial sector, particularly in Tasmania and other key regions across the country. Mystate offers a range of core products, including personal banking, home loans, and investment services, distinguished by their customer-centric approach and competitive rates. With a commitment to innovation and community engagement, Mystate has positioned itself as a trusted alternative to traditional banks, earning accolades for its service excellence and sustainable practices. As a growing player in the Australian financial landscape, Mystate continues to enhance its offerings, ensuring that it meets the evolving needs of its customers while maintaining a strong market presence.
DitchCarbon Score
How does Mystate'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
Mystate's score of 34 is higher than 54% of the industry. This can give you a sense of how well the company is doing compared to its peers.
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Mystate's reported carbon emissions
In 2023, MyState Limited reported total carbon emissions of approximately 55,834,000 kg CO2e. This figure includes 41,000 kg CO2e from Scope 1 emissions, 137,000 kg CO2e from Scope 2 emissions, and 4,341,000 kg CO2e from Scope 3 emissions, which primarily stem from investments amounting to 51,315,000 kg CO2e. Comparatively, in 2022, the company recorded total emissions of about 49,164,000 kg CO2e, with Scope 1 emissions at 40,000 kg CO2e, Scope 2 emissions at 207,000 kg CO2e, and Scope 3 emissions at 4,622,000 kg CO2e. This indicates a rise in total emissions from 2022 to 2023. MyState Limited has not set specific reduction targets or climate pledges, nor does it report any initiatives under the Science Based Targets initiative (SBTi). The emissions data is not cascaded from any parent organisation, indicating that MyState Limited independently reports its emissions and climate commitments. Overall, while MyState Limited has made strides in transparency regarding its emissions, the absence of reduction targets suggests an opportunity for further commitment to climate action.
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| 2021 | 2022 | 2023 | |
|---|---|---|---|
| Scope 1 | 54,000 | 00,000 | 00,000 |
| Scope 2 | 271,000 | 000,000 | 000,000 |
| Scope 3 | 4,365,000 | 0,000,000 | 0,000,000 |
How Carbon Intensive is Mystate's Industry?
How Carbon Intensive is Mystate's Location?
Mystate's Scope 3 Categories Breakdown
Mystate's Scope 3 emissions, which decreased by 6% last year and decreased by approximately 1% since 2021, demonstrating supply chain emissions tracking. Nearly all of their carbon footprint comes from suppliers and value chain emissions, representing nearly all emissions under the GHG Protocol, with "Investments" representing nearly all of their reported Scope 3 footprint.
Top Scope 3 Categories
Mystate's Climate Goals (2030 & 2050)
Climate goals typically focus on 2030 interim targets and 2050 net-zero commitments, aligned with global frameworks like the Paris Agreement and Science Based Targets initiative (SBTi) to ensure alignment with global climate goals.
Mystate has not publicly committed to specific 2030 or 2050 climate goals through the major frameworks we track. Companies often set interim 2030 targets and long-term 2050 net-zero goals to demonstrate measurable progress toward decarbonization.
