Saudi National Bank

Saudi National Bank's Carbon Emissions and Climate Commitments

Saudi National Bank (SNB), a financial intermediation services provider headquartered in Saudi Arabia, reported its 2023 emissions. In 2023, the bank's Scope 1 emissions were approximately 11,106,340 kg CO2e, Scope 2 emissions were around 11,063,390 kg CO2e, and Scope 3 emissions were approximately 12,446,710 kg CO2e.

Looking at previous years, in 2022, SNB's Scope 1 emissions were about 12,477,740 kg CO2e, Scope 2 emissions were around 105,953,000 kg CO2e, and Scope 3 emissions were approximately 12,796,740 kg CO2e. In 2021, the bank recorded Scope 1 emissions of approximately 12,840,040 kg CO2e, Scope 2 emissions of around 110,516,000 kg CO2e, and Scope 3 emissions of approximately 93,152,000 kg CO2e. For 2020, SNB reported Scope 1 emissions of about 27,510 kg CO2e and Scope 2 emissions of approximately 12,195,320 kg CO2e.

SNB is committed to advancing the net-zero transition, participating in PIF Round 4 Renewable Energy projects from 2023 with a target end year of 2030 to support the Public Investment Fund's mandate to achieve 70% of the Saudi Government's renewable energy target of 58.7 GW by 2030. The bank has also taken part in voluntary carbon credit auctions, acquiring and retiring credits to offset a portion of its Scope 1 and Scope 2 emissions, demonstrating a near-term commitment to net-zero for these scopes.