Nedbank

Nedbank's reported carbon emissions

Nedbank's latest disclosed carbon emissions data is for 2024, with total emissions amounting to approximately 105,340,000 kg CO2e. This figure comprises Scope 1 emissions of about 2,083,000 kg CO2e, Scope 2 emissions of approximately 68,475,000 kg CO2e, and Scope 3 emissions of around 34,782,000 kg CO2e. In 2023, Nedbank reported total emissions of approximately 113,339,000 kg CO2e. This included Scope 1 emissions of about 7,177,000 kg CO2e, Scope 2 emissions of roughly 81,115,000 kg CO2e, and Scope 3 emissions totalling approximately 34,350,000 kg CO2e. Nedbank has established several climate commitments and reduction targets. A key near-term goal is to achieve a 40% reduction in Scope 1 and Scope 2 greenhouse gas (GHG) emissions by the end of 2025, using 2019 levels as the baseline. This target has been achieved, implying a total carbon footprint (Scope 1 and 2 emissions) of approximately 83,000 tonnes CO2e. The bank is also committed to reducing energy consumption by 30% by the end of 2025, based on 2019 levels, with an absolute target of electricity consumption below 97,000 MWh or an intensity target of 3,320 kWh per FTE. Furthermore, Nedbank aims to have 100% of its lending and investment activities supporting a net-zero carbon economy by 2050. They also target zero exposure to fossil fuel-related activities by 2045.