Nedbank

Nedbank, a financial intermediation services company based in ZA, reported total carbon emissions of approximately 105,340,000 kg CO2e in 2024. This included about 2,083,000 kg CO2e from Scope 1 emissions, approximately 68,475,000 kg CO2e from Scope 2 emissions, and around 34,782,000 kg CO2e from Scope 3 emissions. In the previous year, 2023, their total emissions were about 113,339,000 kg CO2e.

Nedbank has set ambitious climate commitments. They aim to achieve net-zero operational emissions by 2025 and net-zero carbon emissions by 2050. This 2050 commitment also includes having 100% of their lending and investment activity supporting a net-zero carbon economy.

In terms of near-term targets, Nedbank is committed to reducing Scope 1 and Scope 2 GHG emissions by over 40% by the end of 2025, using 2019 levels as the baseline. This target encompasses all combustion-related sources for Scope 1 and electricity consumption for Scope 2. Additionally, they target a 30% reduction in emissions from business travel by the end of 2025, compared to 2019 levels. Nedbank also aims to reduce energy consumption by 30% by the end of 2025, based on 2019 levels, targeting annual electricity consumption below 97,000 MWh. They also have a target for a 47% reduction in absolute financed emissions from thermal coal by 2030, compared with 2022 levels.

Earlier commitments include a 7% reduction in Scope 1 and 2 emissions based on 2013 levels by 2020. Another target was a 35% decrease in Scope 1 and 2 emissions by the end of 2025, based on 2013 values. Nedbank also had a target to reduce energy consumption by 10% by the end of 2020 based on 2014 levels.