SMBC Group
SMBC Group, officially known as Sumitomo Mitsui Banking Corporation Group, is a leading financial institution headquartered in Tokyo, Japan. Established in 2001, the group has rapidly expanded its presence across major operational regions, including Asia, Europe, and the Americas, solidifying its position in the global banking industry. Specialising in a diverse range of services, SMBC Group offers corporate banking, investment banking, and asset management, distinguished by its commitment to customer-centric solutions and innovative financial products. The bank has achieved notable milestones, including recognition for its robust risk management practices and sustainable finance initiatives, positioning it as a trusted partner in the financial sector. With a strong market presence, SMBC Group continues to enhance its reputation as a key player in the global financial landscape.
DitchCarbon Score
How does SMBC Group'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
SMBC Group's score of 41 is higher than 87% of the industry. This can give you a sense of how well the company is doing compared to its peers.
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SMBC Group's reported carbon emissions
In 2023, SMBC Group reported total carbon emissions of approximately 18944790 kg CO2e, comprising 178000 kg CO2e from Scope 1, 815000 kg CO2e from Scope 2, and a significant 228852150 kg CO2e from Scope 3 emissions. This indicates a notable reliance on indirect emissions, particularly from business travel and waste generated in operations. In 2022, the group's emissions were about 19248790 kg CO2e, with Scope 1 emissions at 416000 kg CO2e, Scope 2 at 1078000 kg CO2e, and Scope 3 at 114480 kg CO2e. The data shows a slight decrease in total emissions from 2022 to 2023, despite an increase in revenue from 123283000 USD to 135888000 USD. For 2021, SMBC Group's emissions were reported at approximately 20136970 kg CO2e, with Scope 1 emissions of 19100000 kg CO2e and Scope 2 emissions of 160600000 kg CO2e. The Scope 3 emissions were relatively low at 7620 kg CO2e, primarily from business travel. Despite these figures, SMBC Group has not disclosed specific reduction targets or initiatives aimed at decreasing their carbon footprint. The absence of defined climate pledges or SBTi (Science Based Targets initiative) commitments suggests a need for further clarity on their long-term climate strategy. Overall, while SMBC Group has made strides in reporting their emissions, the lack of concrete reduction targets highlights an area for potential improvement in their climate commitments.
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| 2021 | 2022 | 2023 | |
|---|---|---|---|
| Scope 1 | 19,100,000 | 000,000 | 000,000 |
| Scope 2 | 160,600,000 | 0,000,000 | 000,000 |
| Scope 3 | 7,620 | 000,000 | 000,000,000 |
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.
SMBC Group is not participating in any of the initiatives that 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.
