State Bank

State Bank's reported carbon emissions

State Bank, headquartered in India and operating within financial intermediation services (excluding insurance and pension funding), has reported its carbon emissions. In 2024, the bank's total reported emissions were approximately 829.3 million kg CO2e, comprising about 147.2 million kg CO2e for Scope 1, approximately 622.7 million kg CO2e for Scope 2, and roughly 41.5 million kg CO2e for Scope 3. The previous year, 2023, saw total emissions of approximately 1.01 billion kg CO2e. This included around 217.3 million kg CO2e for Scope 1, approximately 742.7 million kg CO2e for Scope 2, and about 46.3 million kg CO2e for Scope 3. Looking further back, in 2022, State Bank reported total emissions of approximately 1.29 billion kg CO2e, with Scope 1 at about 0.5 million kg CO2e, Scope 2 at roughly 1.14 billion kg CO2e, and Scope 3 at approximately 140.0 million kg CO2e. In 2021, total emissions were around 1.32 billion kg CO2e (Scope 1: approximately 0.5 million kg CO2e, Scope 2: about 1.17 billion kg CO2e, Scope 3: roughly 135.8 million kg CO2e). State Bank has established significant climate commitments. The bank aims to be carbon neutral in Scope 1 and Scope 2 emissions by 2030. Furthermore, it has committed to achieving Net Zero across all scopes (Scope 1, 2, and 3) by 2055. Recent achievements include avoiding 53,394 metric tons of CO2e in GHG emissions, and a reduction in total GHG emissions from approximately 1.01 million metric tons CO2e in FY23 to about 811,410 metric tons CO2e in FY24.