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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 50 is higher than 70% 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 1,521,809,000 kg CO2e. This figure includes Scope 1 emissions of about 3,675,300 kg CO2e, Scope 2 emissions of approximately 1,146,300 kg CO2e, and Scope 3 emissions totalling around 4,234,400 kg CO2e, with business travel contributing about 520,800 kg CO2e. The bank's emissions data is cascaded from its parent company, Novo Banco, S.A., reflecting a corporate family relationship. This data is crucial for understanding the bank's overall environmental impact and commitment to sustainability. While specific reduction targets or initiatives were not disclosed, Novo Banco's emissions data indicates a comprehensive approach to tracking and managing carbon emissions across all scopes. The absence of documented reduction targets suggests that the bank may still be in the process of establishing formal commitments to reduce its carbon footprint. Overall, Novo Banco's emissions profile highlights the importance of transparency in corporate sustainability efforts, particularly in the financial sector, where climate commitments are increasingly scrutinised by stakeholders.
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| 2014 | 2020 | 2021 | 2022 | 2023 | |
|---|---|---|---|---|---|
| Scope 1 | 2,797,000 | 0,000,000 | 0,000,000 | 0,000,000 | 0,000,000 |
| Scope 2 | 2,961,000 | 0,000,000 | 0,000,000 | 000,000 | 0,000,000 |
| Scope 3 | 3,990,000 | 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.
