SBI Life Insurance Sustainability Profile
SBI Life Insurance Company Limited, commonly referred to as SBI Life, is a prominent player in the Indian insurance sector, headquartered in Mumbai, India. Established in 2001, the company has rapidly grown to become one of the leading life insurance providers in the country, offering a diverse range of products tailored to meet the needs of individuals and businesses alike. SBI Life operates primarily in the life insurance industry, focusing on key areas such as individual and group insurance plans, pension solutions, and health insurance. Its unique offerings, including a variety of term plans and investment-linked policies, cater to a wide demographic, ensuring financial security and peace of mind for its customers. With a strong market position, SBI Life has achieved significant milestones, including a robust distribution network and a reputation for customer-centric service. The company continues to innovate, making it a trusted choice for millions seeking reliable insurance solutions in India.
DitchCarbon Score
How does SBI Life Insurance'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 Services Auxiliary to 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
SBI Life Insurance's score of 21 is lower 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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SBI Life Insurance's reported carbon emissions
In 2024, SBI Life Insurance reported total carbon emissions of approximately 76,174,600 kg CO2e, which includes 4,108,500 kg CO2e from Scope 1, 16,384,400 kg CO2e from Scope 2, and 76,174,600 kg CO2e from Scope 3 emissions. The previous year, 2023, saw total emissions of about 45,570,530 kg CO2e from Scope 3, alongside 2,735,110 kg CO2e from Scope 1 and 15,260,100 kg CO2e from Scope 2. SBI Life Insurance's emissions data is cascaded from its parent company, SBI Life Insurance Company Limited, which is classified as a current subsidiary. The company has not set specific reduction targets or climate pledges, indicating a potential area for future commitment. The absence of documented reduction initiatives suggests that while emissions are tracked, proactive measures for reduction may not yet be in place. Overall, SBI Life Insurance's emissions profile highlights significant Scope 3 emissions, which are often the most challenging to manage, reflecting the broader industry context where companies are increasingly scrutinised for their entire carbon footprint.
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| 2022 | 2023 | |
|---|---|---|
| Scope 1 | 86,730 | 0,000,000 |
| Scope 2 | 4,902,240 | 00,000,000 |
| Scope 3 | - | 00,000,000 |
How Carbon Intensive is SBI Life Insurance's Industry?
How Carbon Intensive is SBI Life Insurance's Location?
SBI Life Insurance'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.
SBI Life Insurance 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.
