O Bank Sustainability Profile
O Bank, officially known as O Bank Co., Ltd., is a prominent financial institution headquartered in Taiwan (TW). Established in 2016, the bank has rapidly positioned itself within the digital banking sector, focusing on innovative financial solutions tailored for a tech-savvy clientele. With a strong operational presence across major urban centres in Taiwan, O Bank offers a range of services including personal banking, wealth management, and digital payment solutions. What sets O Bank apart is its commitment to leveraging technology to enhance customer experience, providing seamless online banking services that cater to the evolving needs of consumers. The bank has achieved notable milestones, including recognition for its user-friendly mobile app and robust security features. As a leader in the digital banking landscape, O Bank continues to redefine traditional banking practices, making it a key player in Taiwan's financial services industry.
DitchCarbon Score
How does O Bank'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
O Bank's score of 43 is higher than 64% of the industry. This can give you a sense of how well the company is doing compared to its peers.
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O Bank's reported carbon emissions
In 2023, O Bank reported total carbon emissions of approximately 4,131,330 kg CO2e, with Scope 1 emissions at about 287,070 kg CO2e and Scope 2 emissions at approximately 2,471,590 kg CO2e. Scope 3 emissions were significant, totalling around 4,245,840 kg CO2e, which included contributions from employee commuting and business travel. O Bank has set ambitious climate commitments, aiming for net zero emissions across all operations by 2050. In the near term, the bank has established specific reduction targets for 2023: a 1.5% reduction in Scope 1 emissions from 2022 levels, targeting approximately 267.47 tonnes CO2e, and a 10.8% reduction in Scope 2 emissions, aiming for about 2,528.66 tonnes CO2e. The emissions data is not cascaded from any parent company, indicating that O Bank's reporting is independent. The bank's commitment to reducing its carbon footprint aligns with industry standards and reflects a proactive approach to environmental sustainability.
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| 2019 | 2022 | 2023 | |
|---|---|---|---|
| Scope 1 | 1,044,000 | 000,000 | 000,000 |
| Scope 2 | 19,552,000 | 0,000,000 | 0,000,000 |
| Scope 3 | 46,800 | 0,000,000 | 0,000,000 |
How Carbon Intensive is O Bank's Industry?
How Carbon Intensive is O Bank's Location?
O Bank's Scope 3 Categories Breakdown
O Bank's Scope 3 emissions, which increased by 230% last year and increased significantly since 2019, demonstrating supply chain emissions tracking. Most of their carbon footprint comes from suppliers and value chain emissions, with Scope 3 emissions accounting for 61% of total emissions under the GHG Protocol, with "Employee Commuting" being the largest emissions source at 15% of Scope 3 emissions.
Top Scope 3 Categories
O Bank'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.
O Bank has not publicly committed to specific 2030 or 2050 climate goals through the major frameworks we track. Companies often set interim 2030 targets and long-term 2050 net-zero goals to demonstrate measurable progress toward decarbonization.
