SMBC Group Sustainability Profile
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 27 is lower than 52% 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 6,000,000 kg CO2e, with significant contributions from Scope 3 emissions, which accounted for about 5,666,000 kg CO2e. Within this, business travel was the largest source, contributing approximately 4,946,000 kg CO2e. Scope 1 emissions were reported at about 178,000 kg CO2e, while Scope 2 emissions totalled approximately 170,000 kg CO2e on a market-based approach. Comparatively, in 2022, the group's total emissions were about 2,290,000 kg CO2e, with Scope 3 emissions at approximately 2,290,000 kg CO2e, again highlighting the significant impact of business travel. Scope 1 emissions for that year were around 416,000 kg CO2e, and Scope 2 emissions were reported at about 685,000 kg CO2e on a market-based basis. Despite these figures, SMBC Group has not set specific reduction targets or initiatives as part of their climate commitments, nor have they cascaded any targets from parent organisations. The absence of documented reduction initiatives suggests a need for further development in their climate strategy. Overall, SMBC Group's emissions profile indicates a heavy reliance on Scope 3 emissions, particularly from business travel, which presents an opportunity for targeted reduction efforts in the future.
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| 2021 | 2022 | 2023 | |
|---|---|---|---|
| Scope 1 | - | - | - |
| Scope 2 | 17,226,330 | 00,000,000 | 00,000,000 |
| Scope 3 | 7,620 | 000,000 | 000,000,000 |
How Carbon Intensive is SMBC Group's Industry?
How Carbon Intensive is SMBC Group's Location?
SMBC Group's Scope 3 Categories Breakdown
SMBC Group's Scope 3 emissions, which increased significantly last year and increased significantly since 2021, demonstrating supply chain emissions tracking. Their carbon footprint includes supplier sustainability and value chain emissions data across Scope 3 categories.
Top Scope 3 Categories
SMBC Group'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.
SMBC Group 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.
