Standard Chartered Bank

Standard Chartered Bank's reported carbon emissions

Standard Chartered Bank, headquartered in GB and operating in financial intermediation services, has reported its carbon emissions for various scopes across several years. **2024 Emissions:** For the year 2024, Standard Chartered Bank's total emissions were approximately 38.3 billion kg CO2e. This includes: * Scope 1 emissions of about 7.7 million kg CO2e. * Scope 2 market-based emissions of approximately 17.3 million kg CO2e. * Scope 3 emissions, totalling approximately 38.1 billion kg CO2e, with significant contributions from investments (about 38.1 billion kg CO2e), purchased goods and services (approximately 349.4 million kg CO2e), and employee commute (about 81.1 million kg CO2e). **2023 Emissions:** In 2023, the bank's total emissions amounted to approximately 45.7 billion kg CO2e. * Scope 1 emissions were around 8.5 million kg CO2e. * Scope 2 market-based emissions were approximately 26.2 million kg CO2e. * Scope 3 emissions totalled approximately 45.3 billion kg CO2e, with investments accounting for about 45.3 billion kg CO2e, and purchased goods and services around 351.3 million kg CO2e. **2022 Emissions:** The total emissions for 2022 were approximately 53.9 billion kg CO2e. * Scope 1 emissions were about 2.1 million kg CO2e. * Scope 2 market-based emissions were approximately 47.4 million kg CO2e. * Scope 3 emissions were around 53.8 billion kg CO2e, with investments being the largest contributor at approximately 53.9 billion kg CO2e. **2021 Emissions:** In 2021, Standard Chartered Bank's total emissions were approximately 45.7 billion kg CO2e. * Scope 1 emissions were about 2.9 million kg CO2e. * Scope 2 emissions (market-based) were approximately 82.8 million kg CO2e. * Scope 3 emissions totalled approximately 45.6 billion kg CO2e, with investments representing about 45.2 billion kg CO2e. **Earlier Emissions Data:** * **2020:** Total emissions were approximately 181.4 million kg CO2e, comprising Scope 1 (about 4 million kg CO2e), Scope 2 (approximately 113.9 million kg CO2e), and Scope 3 (around 63.5 million kg CO2e). * **2019:** Total emissions were approximately 286.7 million kg CO2e, with Scope 1 at about 4.5 million kg CO2e, Scope 2 at approximately 141.8 million kg CO2e, and Scope 3 at around 46.4 million kg CO2e. * **2018:** Total emissions were approximately 290.9 million kg CO2e, including Scope 1 of about 8.6 million kg CO2e, Scope 2 of approximately 139.4 million kg CO2e, and Scope 3 of around 21.5 million kg CO2e. * **2017:** Total emissions were approximately 215.4 million kg CO2e, with Scope 1 at about 4.5 million kg CO2e and Scope 2 at approximately 104.3 million kg CO2e. Scope 3 data was not disclosed for this year. * **2016:** Total emissions were approximately 272.9 million kg CO2e, comprising Scope 1 (about 8.6 million kg CO2e) and Scope 2 (approximately 139.4 million kg CO2e). Scope 3 data was not disclosed. * **2015:** Total emissions were approximately 222 million kg CO2e, with Scope 1 at about 5.9 million kg CO2e and Scope 2 at approximately 113.9 million kg CO2e. Scope 3 data was not disclosed. * **2014:** Total emissions were approximately 308.6 million kg CO2e, including Scope 1 of about 7.9 million kg CO2e and Scope 2 of approximately 180 million kg CO2e. Scope 3 data was not disclosed. **Climate Commitments and Reduction Targets:** Standard Chartered Bank has set ambitious climate commitments. Key targets include: * Achieving net-zero financed emissions by 2050, aligning with the Paris Agreement. * Reducing absolute financed thermal coal-mining emissions by 85% by 2030. * A goal to be net-zero in its own operations by 2025. * Reducing annual greenhouse gas emissions (Scope 1 and 2) to net zero by 2030, with interim targets. For instance, a target of 60,000 tCO2e by December 2025 was in place. * A commitment to reduce financed emissions in Oil and Gas by 29% by 2030 against a 2020 baseline. * Supporting clients dependent on thermal coal to transition, with a target of not banking clients more than 10% dependent on coal by 2030. * The bank also aims to reduce its Scope 1 and Scope 2 emissions by 90% to 18,000 tonnes by 2050, with interim targets of 36% to 121,000 tonnes by 2025 and 55% to 84,000 tonnes by 2030. * In 2024, the bank reported a 28% reduction in its Scope 1 and 2 emissions, reaching 24,968 tCO2e. Additionally, Scope 2 emissions were reduced by 34% in 2024. It is important to note that Standard Chartered Bank's emissions data is cascaded from its corporate family.