State Bank Sustainability Profile
State Bank of India (SBI), headquartered in Mumbai, India, is a leading financial institution in the banking sector. Established in 1955, SBI has grown to become the largest bank in India, with a significant presence across various regions, including urban and rural areas. The bank offers a comprehensive range of services, including retail banking, corporate banking, and investment solutions, distinguished by its commitment to customer service and innovative financial products. Notable achievements include its extensive network of branches and ATMs, making banking accessible to millions. SBI's strong market position is underscored by its robust asset base and a reputation for reliability, making it a trusted choice for individuals and businesses alike. With a focus on digital transformation, SBI continues to lead the way in the Indian banking industry.
DitchCarbon Score
How does State Bank'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 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
State Bank's score of 58 is higher than 75% of the industry. This can give you a sense of how well the company is doing compared to its peers.
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State Bank's reported carbon emissions
In 2024, State Bank reported total carbon emissions of approximately 789,000,000 kg CO2e, comprising 147,240,000 kg CO2e from Scope 1, 622,670,000 kg CO2e from Scope 2, and 41,500,000 kg CO2e from Scope 3. This reflects a commitment to reducing its environmental impact, particularly in Scope 1 and Scope 2 emissions, with a target to achieve carbon neutrality by 2030. In 2023, the bank's emissions were approximately 786,000,000 kg CO2e, with Scope 1 emissions at 217,272,000 kg CO2e, Scope 2 at 742,732,000 kg CO2e, and Scope 3 at 46,299,000 kg CO2e. The data indicates a focus on energy conservation and transitioning to green energy sources as part of its sustainability strategy. State Bank's initiatives include specific reduction targets for Scope 1 and Scope 2 emissions, aiming for carbon neutrality by 2030, which aligns with industry standards for climate action. The bank's emissions data is independently reported and not cascaded from any parent organization, ensuring transparency in its sustainability efforts.
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| 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | |
|---|---|---|---|---|---|---|
| Scope 1 | 418,000 | 000,000 | 000,000 | 000,000 | 000,000,000 | 000,000,000 |
| Scope 2 | 1,163,367,000 | 0,000,000,000 | 0,000,000,000 | 0,000,000,000 | 000,000,000 | 000,000,000 |
| Scope 3 | 181,822,000 | 000,000,000 | 000,000,000 | 000,000,000 | 00,000,000 | 00,000,000 |
How Carbon Intensive is State Bank's Industry?
How Carbon Intensive is State Bank's Location?
State Bank'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.
State Bank 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.
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