Nedbank Sustainability Profile
Nedbank Group Limited, commonly known as Nedbank, is a prominent financial institution headquartered in Johannesburg, South Africa (ZA). Established in 1888, Nedbank has evolved into one of the largest banks in the country, with a strong presence across various operational regions in Southern Africa. Operating within the banking and financial services industry, Nedbank offers a comprehensive range of products and services, including personal and business banking, investment solutions, and wealth management. What sets Nedbank apart is its commitment to sustainability and innovation, aiming to create a positive impact in the communities it serves. With a solid market position, Nedbank has received numerous accolades for its customer service and digital banking initiatives, reinforcing its reputation as a trusted financial partner in the region.
DitchCarbon Score
How does Nedbank'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
Nedbank's score of 59 is higher than 76% of the industry. This can give you a sense of how well the company is doing compared to its peers.
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Nedbank's reported carbon emissions
In 2024, Nedbank reported total carbon emissions of approximately 105,340,000 kg CO2e, comprising 2,083,000 kg CO2e from Scope 1, 68,475,000 kg CO2e from Scope 2, and 34,782,000 kg CO2e from Scope 3 emissions. This represents a slight decrease from 2023, where total emissions were approximately 113,339,000 kg CO2e. Nedbank has set ambitious climate commitments, aiming for a 40% reduction in Scope 1 and 2 emissions by 2025, based on a 2019 baseline. This target translates to a total carbon footprint of approximately 83,000,000 kg CO2e. Additionally, the bank is committed to achieving net-zero operational emissions by 2025 and aims for 100% of its lending and investment activities to support a net-zero carbon economy by 2050. The bank's long-term strategy includes zero exposure to fossil fuel-related activities by 2045. Furthermore, Nedbank has set a target to reduce energy consumption by 30% by the end of 2025, based on 2019 levels. Overall, Nedbank's climate commitments reflect a proactive approach to reducing its carbon footprint and supporting sustainable practices within the financial sector.
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| 2007 | 2012 | 2013 | 2014 | 2015 | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Scope 1 | 694,850 | 000,000 | 000,000 | 000,000 | 000,000 | 000,000 | 000,000 | - | 0,000,000 | - | - | 0,000,000 | 0,000,000 | 0,000,000 |
| Scope 2 | 96,361,710 | 000,000,000 | 000,000,000 | 000,000,000 | 000,000,000 | 000,000,000 | 000,000,000 | - | 000,000,000 | - | - | 00,000,000 | 00,000,000 | 00,000,000 |
| Scope 3 | 31,483,310 | 00,000,000 | 00,000,000 | 00,000,000 | 00,000,000 | 00,000,000 | 00,000,000 | - | 00,000,000 | - | - | - | 00,000,000 | 00,000,000 |
How Carbon Intensive is Nedbank's Industry?
How Carbon Intensive is Nedbank's Location?
Nedbank's Scope 3 Categories Breakdown
Nedbank's Scope 3 emissions, which increased by 1% last year and increased by approximately 10% since 2007, demonstrating supply chain emissions tracking. A significant portion of their carbon footprint comes from suppliers and value chain emissions, with Scope 3 emissions accounting for 33% of total emissions under the GHG Protocol, with "Employee Commuting" being the largest emissions source at 73% of Scope 3 emissions.
Top Scope 3 Categories
Nedbank'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.
Nedbank has established climate goals through participation in recognized frameworks and target-setting initiatives. Companies often set interim 2030 targets and long-term 2050 net-zero goals to demonstrate measurable progress toward decarbonization.
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