Otp Sustainability Profile
OTP Bank, officially known as OTP Bank Nyrt., is a leading financial institution headquartered in Hungary (HU). Established in 1949, OTP has grown to become a dominant player in the Central and Eastern European banking sector, with significant operations across countries such as Romania, Slovakia, and Bulgaria. The bank offers a comprehensive range of services, including retail banking, corporate banking, and asset management, distinguished by its customer-centric approach and innovative digital solutions. OTP Bank has achieved notable milestones, including its expansion into international markets and recognition for its robust financial performance. With a strong market position, OTP continues to set industry standards, making it a trusted choice for millions of customers seeking reliable banking services.
DitchCarbon Score
How does Otp'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
Otp's score of 55 is higher than 73% of the industry. This can give you a sense of how well the company is doing compared to its peers.
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Otp's reported carbon emissions
In 2023, OTP Bank reported total carbon emissions of approximately 17,653 kg CO2e, comprising 6,005 kg CO2e from Scope 1 and 11,648 kg CO2e from Scope 2 emissions. The Scope 1 emissions included significant contributions from mobile combustion (about 10,324,000 kg CO2e) and stationary combustion (approximately 13,627,000 kg CO2e). The bank also disclosed Scope 3 emissions, primarily from business travel (about 1,963,000 kg CO2e) and purchased goods and services (approximately 2,655,000 kg CO2e). OTP Bank has set ambitious climate commitments, achieving net carbon neutrality by the end of 2022 and aiming for total carbon neutrality by 2030. The Serbian subsidiary targets carbon neutrality by 2027. Additionally, OTP Bank plans to reduce its Scope 2 emissions by 30% from 2020 levels by 2030 and aims to reduce Scope 1 emissions to near zero by 2025. The emissions data is sourced from OTP Bank Nyrt., with no cascaded data from a parent organization. The bank's commitment to sustainability reflects its proactive approach to addressing climate change and reducing its carbon footprint across all operational scopes.
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| 2012 | 2013 | 2014 | 2015 | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Scope 1 | 2,060 | 0,000 | 0,000 | 00,000,000 | 00,000,000 | 00,000,000 | 00,000,000 | 0,000 | 0,000 | 0,000 | 0,000 | 0,000 |
| Scope 2 | 4,431 | 0,000 | 0,000 | 00,000,000 | 00,000,000 | 00,000,000 | 00,000,000 | 00,000,000 | 00,000,000 | 00,000,000 | 00,000,000 | 00,000,000 |
| Scope 3 | 2,453,000 | 0,000,000 | 000,000 | - | - | - | - | - | - | - | - | 0,000,000 |
How Carbon Intensive is Otp's Industry?
How Carbon Intensive is Otp's Location?
Otp's Scope 3 Categories Breakdown
Otp's Scope 3 emissions, which increased by 458% last year and increased by approximately 88% since 2012, demonstrating supply chain emissions tracking. Their carbon footprint includes suppliers and value chain emissions, with Scope 3 emissions accounting for 10% of total emissions under the GHG Protocol, with "Purchased Goods and Services" being the largest emissions source at 57% of Scope 3 emissions.
Top Scope 3 Categories
Otp'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.
Otp 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.
