SBI Life Insurance
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 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 23 is lower than 67% of the industry. This can give you a sense of how well the company is doing compared to its peers.
SBI Life Insurance's reported carbon emissions
In 2023, SBI Life Insurance reported total carbon emissions of approximately 50,000,000 kg CO2e, with emissions distributed across various scopes: 86,730 kg CO2e from Scope 1, 4,902,240 kg CO2e from Scope 2, and 45,570,530 kg CO2e from Scope 3. The company has not disclosed any specific reduction targets or initiatives aimed at decreasing its carbon footprint. For the following year, 2024, emissions increased significantly, with Scope 1 emissions rising to 2,735,110 kg CO2e and Scope 2 emissions reaching 15,260,100 kg CO2e, while Scope 3 emissions remained constant at 45,570,530 kg CO2e. This indicates a substantial increase in direct and indirect emissions, particularly in Scope 1 and Scope 2. SBI Life Insurance has not outlined any formal climate commitments or reduction targets, which places it in a challenging position within the industry as companies increasingly focus on sustainability and carbon neutrality. The absence of a climate pledge or specific reduction initiatives may impact its reputation and competitiveness in a market that values environmental responsibility.
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Add to project| 2023 | 2024 | |
|---|---|---|
| Scope 1 | 86,730 | 0,000,000 |
| Scope 2 | 4,902,240 | 00,000,000 |
| Scope 3 | 45,570,530 | 00,000,000 |
Industry emissions intensity
Location emissions intensity
Reduction initiatives & disclosure networks
Companies disclose and commit to reducing emissions to show they are serious about reducing emissions impact over time. They can also help a company track its progress over time.
SBI Life Insurance is committed to some reduction initiatives we track. This may change over time as the company engages with new initiatives or updates its commitments. DitchCarbon will update this information as it becomes available.
