Standard Chartered Bank

Standard Chartered Bank, a financial intermediation services provider based in the UK, reported approximately 38.2 billion kg CO2e in Scope 3 emissions for 2024, with Scope 1 and 2 emissions totalling about 25 million kg CO2e. For 2023, the bank's Scope 3 emissions were approximately 45.3 billion kg CO2e, and its Scope 1 and 2 emissions were around 34.7 million kg CO2e.

The bank has set ambitious climate commitments, aiming for net-zero financed emissions by 2050, aligning with the Paris Agreement. Key near-term targets include an 85% reduction in absolute financed thermal coal-mining emissions by 2030. Standard Chartered also aims to achieve net-zero emissions in its own operations by 2025. Furthermore, the bank is working to reduce its Scope 1 and 2 emissions, with a target of net zero by 2030, and has an interim target of 60,000 tonnes of CO2e by December 2025. In 2024, Standard Chartered reported a reduction of 28% in its Scope 1 and 2 emissions compared to 2023, reaching approximately 24,968 tonnes of CO2e. The bank also aims to support its clients in the transition away from thermal coal, with a commitment to not bank clients more than 10% dependent on coal by 2030.

For Scope 3 emissions, specific targets include a 28% reduction in emissions related to upstream transportation and distribution, and business travel by 2023, against 2019 levels. The bank has also set a target to reduce absolute financed emissions in the Oil and Gas sector by 29% by 2030, using 2020 as a baseline.

It's important to note that some of Standard Chartered Bank's data, specifically regarding climate initiatives, is cascaded from its ultimate parent organisation, Standard Chartered PLC.