SHANGHAI STOCK EXCHANGE

In 2023, the Shanghai Stock Exchange (SSE) reported total carbon emissions of approximately 4,077,150 kg CO2e. This figure includes Scope 1 emissions of about 121,070 kg CO2e, Scope 2 emissions of approximately 3,956,080 kg CO2e, and significant Scope 3 emissions totalling around 7,875,718,630 kg CO2e. The Scope 3 emissions breakdown reveals substantial contributions from purchased goods and services (approximately 6,838,088,660 kg CO2e) and upstream transportation and distribution (about 88,896,980 kg CO2e). Over the years, the SSE has demonstrated a trend of fluctuating emissions. For instance, in 2021, total emissions were reported at approximately 3,800,710 kg CO2e, which indicates a slight increase in 2022 to about 3,712,670 kg CO2e, followed by a further rise in 2023. Despite these figures, the SSE has not publicly committed to specific reduction targets or initiatives, as indicated by the absence of documented reduction targets or climate pledges. This lack of formal commitments may reflect broader industry trends where financial institutions are increasingly scrutinised for their environmental impact and climate strategies. Overall, while the SSE has made strides in emissions reporting, the absence of clear reduction targets highlights an area for potential improvement in their climate commitments.