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 36 is higher than 55% 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 alone was responsible for 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, indicating a substantial increase in emissions in 2023. The Scope 1 emissions for 2022 were about 416,000 kg CO2e, and Scope 2 emissions were approximately 685,000 kg CO2e on a market-based basis. Despite the increase in emissions, SMBC Group has not publicly disclosed specific reduction targets or initiatives as part of their climate commitments. There are no SBTi (Science Based Targets initiative) reduction targets or climate pledges reported, indicating a potential area for future development in their sustainability strategy. The emissions data is not cascaded from any parent organization, and all figures are derived directly from SMBC Group's disclosures. The organisation's commitment to addressing climate change remains a critical focus, particularly as they navigate the complexities of their operational emissions.
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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.
