Security Bank Corporation Sustainability Profile
Security Bank Corporation, commonly referred to as Security Bank, is a prominent financial institution headquartered in the Philippines. Established in 1948, the bank has grown to become a key player in the Philippine banking industry, with a strong presence in major operational regions across the country. Specialising in a range of services, Security Bank offers personal and corporate banking, investment services, and treasury management. Its commitment to innovation and customer service sets it apart, particularly with unique products like its digital banking solutions. Over the years, Security Bank has achieved significant milestones, including recognition for its financial stability and customer satisfaction. With a solid market position, Security Bank continues to be a trusted partner for individuals and businesses alike, reflecting its dedication to excellence in the banking sector.
DitchCarbon Score
How does Security Bank Corporation'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
Security Bank Corporation's score of 33 is higher than 53% of the industry. This can give you a sense of how well the company is doing compared to its peers.
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Security Bank Corporation's reported carbon emissions
In 2023, Security Bank Corporation reported total emissions of approximately 3,710,300 kg CO2e, comprising 68,300 kg CO2e from Scope 1 and 3,643,000 kg CO2e from Scope 2. The bank has not disclosed any Scope 3 emissions data. In 2022, the bank's emissions were approximately 3,777,000 kg CO2e, with Scope 2 emissions accounting for the entirety of this figure, as no Scope 1 data was reported. Security Bank Corporation has not set specific reduction targets or initiatives as part of its climate commitments, and there are no documented climate pledges or SBTi targets. The absence of reduction initiatives suggests a need for enhanced climate action strategies within the organisation. Overall, while Security Bank Corporation has made strides in emissions reporting, further commitments and actions are necessary to address its carbon footprint effectively.
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| 2019 | 2022 | 2023 | |
|---|---|---|---|
| Scope 1 | 416,000 | 00,000 | 00,000 |
| Scope 2 | 4,945,000 | 0,000,000 | 0,000,000 |
| Scope 3 | 7,232,000 | - | - |
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Security Bank Corporation's Scope 3 Categories Breakdown
Most of their carbon footprint comes from suppliers and value chain emissions, with Scope 3 emissions accounting for 57% of total emissions under the GHG Protocol, with "Waste Generated in Operations" representing nearly all of their reported Scope 3 footprint.
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Security Bank Corporation'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.
Security Bank Corporation 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.
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