Overseas Filipino Bank, Inc. Sustainability Profile
Overseas Filipino Bank, Inc. (OFBank) is a pioneering financial institution headquartered in the Philippines, primarily serving the needs of Overseas Filipino Workers (OFWs) and their families. Established in 2019, OFBank has quickly positioned itself as a leader in the digital banking sector, focusing on remittances, savings, and investment products tailored for the unique requirements of its clientele. With a strong emphasis on accessibility and convenience, OFBank offers a range of core services, including online banking, mobile remittance solutions, and competitive savings accounts. Its commitment to innovation and customer-centric solutions has garnered recognition within the industry, making it a trusted partner for millions of Filipinos abroad. As a wholly-owned subsidiary of the Land Bank of the Philippines, OFBank continues to expand its reach, ensuring that financial services are within easy access for Filipinos worldwide.
DitchCarbon Score
How does Overseas Filipino Bank, Inc.'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
Overseas Filipino Bank, Inc.'s score of 17 is lower than 89% of the industry. This can give you a sense of how well the company is doing compared to its peers.
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Overseas Filipino Bank, Inc., headquartered in the Philippines, currently does not report specific carbon emissions data, as indicated by the absence of emissions figures. The bank is a current subsidiary of the Land Bank of the Philippines, which may influence its environmental strategies and commitments. As of now, Overseas Filipino Bank, Inc. has not established any documented reduction targets or climate pledges. This lack of specific initiatives suggests that the bank is still in the early stages of developing its climate action framework. Given the context of the banking industry, it is essential for financial institutions like Overseas Filipino Bank to align with broader climate commitments and sustainability goals, particularly in light of increasing regulatory pressures and stakeholder expectations regarding environmental responsibility. While no specific emissions data or reduction targets are available, the bank's affiliation with Land Bank of the Philippines may provide opportunities for future collaboration on sustainability initiatives and emissions reduction strategies.
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| 2016 | 2017 | 2018 | |
|---|---|---|---|
| Scope 1 | - | 00,000 | 00,000 |
| Scope 2 | 6,845,190 | 0,000,000 | 0,000,000 |
| Scope 3 | - | 0,000,000 | 0,000,000 |
How Carbon Intensive is Overseas Filipino Bank, Inc.'s Industry?
How Carbon Intensive is Overseas Filipino Bank, Inc.'s Location?
Overseas Filipino Bank, Inc.'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.
Overseas Filipino Bank, Inc. 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.
