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 36 is higher than 57% 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 220 kg CO2e in the UK, with significant contributions from Scope 2 emissions, which accounted for about 164,000 kg CO2e (market-based) and 815,000 kg CO2e (location-based). The group's Scope 3 emissions were notably high, reaching approximately 5,660,000 kg CO2e, primarily driven by business travel, which alone contributed about 4,946,000 kg CO2e. Comparatively, in 2022, SMBC Group's emissions in the UK were approximately 2,286,000 kg CO2e in Scope 3, with Scope 2 emissions at about 444,000 kg CO2e (market-based). This indicates a substantial increase in emissions from business travel in 2023. Globally, in 2023, the total emissions reported were approximately 18,944,790 kg CO2e for Scope 1 and 2 combined, with Scope 3 emissions at about 228,852,150 kg CO2e. The data reflects a consistent disclosure of Scope 2 and Scope 3 emissions, although there is no reported data for Scope 1 emissions. Despite the detailed emissions reporting, SMBC Group has not set specific reduction targets or initiatives, as indicated by the absence of SBTi reduction targets or documented climate pledges. The organisation's emissions data is not cascaded from a parent company, ensuring that the figures are independently reported. Overall, SMBC Group's emissions profile highlights the significant impact of business travel on their carbon footprint, while the lack of formal reduction commitments suggests an area for potential improvement in their climate strategy.
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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 |
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.
