Saudi Awwal Bank Sustainability Profile
Saudi Awwal Bank, commonly referred to as SAB, is a prominent financial institution headquartered in Saudi Arabia. Established in 1979, the bank has grown to become a key player in the Saudi banking sector, offering a wide range of services across retail, corporate, and investment banking. With a strong presence in major operational regions throughout the Kingdom, SAB is committed to delivering innovative financial solutions tailored to meet the diverse needs of its customers. The bank's core products include personal banking services, corporate financing, and wealth management, distinguished by their customer-centric approach and advanced digital banking capabilities. Recognised for its robust financial performance and commitment to excellence, Saudi Awwal Bank continues to solidify its market position as a trusted partner in the financial landscape of Saudi Arabia.
DitchCarbon Score
How does Saudi Awwal 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
Saudi Awwal Bank's score of 41 is higher than 61% of the industry. This can give you a sense of how well the company is doing compared to its peers.
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Saudi Awwal Bank's reported carbon emissions
In 2023, Saudi Awwal Bank reported total carbon emissions of approximately 587,522,000 kg CO2e. This figure includes Scope 1 emissions of about 15,683,000 kg CO2e, primarily from mobile combustion (598,000 kg CO2e) and fugitive emissions (15,065,000 kg CO2e). Scope 2 emissions, resulting from purchased electricity, accounted for approximately 39,248,000 kg CO2e. The majority of emissions stemmed from Scope 3, which totalled around 532,590,000 kg CO2e, with significant contributions from capital goods (122,922,000 kg CO2e) and purchased goods and services (395,157,000 kg CO2e). In comparison, the bank's total emissions in 2022 were about 533,189,000 kg CO2e, with Scope 1 emissions at 4,815,000 kg CO2e and Scope 2 emissions at 36,303,000 kg CO2e. The Scope 3 emissions for that year were approximately 492,071,000 kg CO2e. Saudi Awwal Bank has set ambitious climate commitments, aiming for Net Zero emissions across all business operations by 2040. Additionally, the bank plans to measure the carbon footprint of its portfolio to achieve Net Zero by 2060 or sooner. These long-term targets reflect the bank's commitment to addressing climate change and reducing its overall carbon footprint.
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| 2021 | 2022 | 2023 | |
|---|---|---|---|
| Scope 1 | 384,000 | 0,000,000 | 00,000,000 |
| Scope 2 | 21,200,000 | 00,000,000 | 00,000,000 |
| Scope 3 | 123,732,000 | 000,000,000 | 000,000,000 |
How Carbon Intensive is Saudi Awwal Bank's Industry?
How Carbon Intensive is Saudi Awwal Bank's Location?
Saudi Awwal Bank's Scope 3 Categories Breakdown
Saudi Awwal Bank's Scope 3 emissions, which increased by 8% last year and increased by approximately 330% since 2021, demonstrating supply chain emissions tracking. The vast majority of their carbon footprint comes from suppliers and value chain emissions, representing the vast majority of total emissions under the GHG Protocol, with "Purchased Goods and Services" being the largest emissions source at 74% of Scope 3 emissions.
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Saudi Awwal 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.
Saudi Awwal 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.
