Novo Banco
Novo Banco, officially known as Novo Banco, S.A., is a prominent financial institution headquartered in Lisbon, Portugal (PT). Established in 2014, the bank emerged from the resolution of Banco Espírito Santo, marking a significant milestone in the Portuguese banking sector. Novo Banco operates primarily in Portugal, with a focus on retail banking, corporate banking, and investment services. The bank offers a diverse range of core products, including personal and business accounts, loans, and investment solutions, distinguished by their customer-centric approach and innovative digital services. Novo Banco has positioned itself as a key player in the market, recognised for its commitment to financial stability and customer satisfaction. With a strong emphasis on sustainability and community engagement, Novo Banco continues to evolve, adapting to the dynamic needs of its clients while maintaining a robust presence in the financial landscape.
DitchCarbon Score
How does Novo Banco'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
Novo Banco's score of 56 is higher than 97% of the industry. This can give you a sense of how well the company is doing compared to its peers.
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Novo Banco's reported carbon emissions
In 2023, Novo Banco reported total carbon emissions of approximately 9,056,000 kg CO2e. This figure includes 3,675,300 kg CO2e from Scope 1 emissions, 1,146,300 kg CO2e from Scope 2, and 4,234,400 kg CO2e from Scope 3 emissions. Notably, the Scope 3 emissions encompass significant contributions from investments (2,592,458,000 kg CO2e), business travel (520,800 kg CO2e), and purchased goods and services (91,500 kg CO2e). Comparatively, in 2022, the total emissions were about 11,072,000 kg CO2e, with Scope 1 at 4,158,100 kg CO2e, Scope 2 at 811,300 kg CO2e, and Scope 3 at 6,103,600 kg CO2e. This indicates a reduction in total emissions from 2022 to 2023. Novo Banco has set ambitious climate commitments, aiming to reduce its Scope 1 and 2 CO2 emissions by 50% by 2030, starting from 2022. This target reflects a proactive approach to mitigating climate impact and aligns with industry standards for sustainability. The bank is currently on track to meet its near-term reduction goals for Scope 1 emissions, while progress for Scope 2 is ongoing.
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| 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | |
|---|---|---|---|---|---|---|
| Scope 1 | 4,012,800 | 0,000,000 | 0,000,000 | 0,000,000 | 0,000,000 | 0,000,000 |
| Scope 2 | 9,089,000 | 0,000,000 | 0,000,000 | 0,000,000 | 000,000 | 0,000,000 |
| Scope 3 | 6,183,500 | 0,000,000 | 0,000,000 | 0,000,000 | 0,000,000 | 0,000,000 |
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.
Novo Banco 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.
