Saudi National Bank Sustainability Profile
Saudi National Bank (SNB), headquartered in Riyadh, Saudi Arabia, stands as a leading financial institution in the Middle East. Established in 2021 through the merger of National Commercial Bank and Samba Financial Group, SNB has quickly positioned itself as a key player in the banking industry, offering a comprehensive range of services. The bank operates primarily in retail, corporate, and investment banking, catering to a diverse clientele across the region. Its core products include personal banking solutions, corporate financing, and wealth management services, all designed to meet the unique needs of its customers. With a strong commitment to innovation and customer service, Saudi National Bank has achieved significant milestones, including rapid digital transformation and expansion of its service offerings. As a prominent entity in the financial sector, SNB continues to enhance its market position through strategic initiatives and a focus on sustainable growth.
DitchCarbon Score
How does Saudi National 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 National Bank's score of 44 is higher than 65% 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 National Bank's reported carbon emissions
In 2024, Saudi National Bank (SNB) reported total carbon emissions of approximately 7,798,580 kg CO2e, a significant decrease from about 11,106,340 kg CO2e in 2023. The emissions breakdown for 2024 includes about 13,310 kg CO2e from Scope 1 and approximately 7,785,270 kg CO2e from Scope 2. This reflects a continued commitment to reducing its carbon footprint, particularly in Scope 2 emissions, which are primarily associated with purchased electricity. SNB has set ambitious climate commitments, participating in the Public Investment Fund's (PIF) Round 4 Renewable Energy projects to support Saudi Arabia's renewable energy target of 58.7 GW by 2030. Additionally, the bank has engaged in a voluntary carbon credits auction, acquiring and retiring credits to offset a portion of its Scope 1 and Scope 2 emissions. These initiatives are part of SNB's broader strategy to advance towards net-zero emissions by 2030. The bank's emissions data is not cascaded from any parent organization, indicating that these figures are independently reported. As SNB continues to implement its sustainability initiatives, it aims to further reduce its carbon emissions and enhance its environmental performance in the coming years.
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| 2020 | 2021 | 2022 | 2023 | |
|---|---|---|---|---|
| Scope 1 | 27,510 | 00,000,000 | 00,000,000 | 00,000,000 |
| Scope 2 | 12,195,320 | 000,000,000 | 000,000,000 | 00,000,000 |
| Scope 3 | - | 00,000,000 | 00,000,000 | 00,000,000 |
How Carbon Intensive is Saudi National Bank's Industry?
How Carbon Intensive is Saudi National Bank's Location?
Saudi National 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 National 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.
