Standard Bank

Standard Bank's reported carbon emissions

Standard Bank, a financial intermediation services provider headquartered in ZA, reported a total of approximately 147.7 billion kg CO2e in 2024. This figure encompasses Scope 1 emissions of about 7.0 million kg CO2e, Scope 2 emissions of approximately 124.2 million kg CO2e, and Scope 3 emissions of around 16.5 million kg CO2e. In 2023, the bank's total emissions were approximately 153.7 billion kg CO2e, with Scope 1 at about 18.6 million kg CO2e, Scope 2 at approximately 119.4 million kg CO2e, and Scope 3 at roughly 16.0 million kg CO2e. Standard Bank is committed to achieving net-zero carbon emissions by 2050 across all scopes, with specific interim targets. This includes achieving net-zero for newly built facilities by 2030 and for existing facilities by 2040. Furthermore, Standard Bank has set a target to reduce direct emissions (Scope 1) in South Africa by 79% by 2040, using 2014 as the base year. A similar 79% reduction target by 2040 is in place for Scope 2 emissions in South Africa, also against a 2014 baseline. The bank's portfolio of financed emissions is also targeted for net-zero by 2050. The organisation is not inheriting emissions data from a parent company, with its data originating from Standard Bank Group Limited.