SUEZ CANAL BANK Sustainability Profile
Suez Canal Bank, headquartered in Egypt, is a prominent financial institution that has been serving the banking sector since its establishment in 1978. With a strong presence in the Egyptian banking landscape, the bank primarily focuses on retail banking, corporate finance, and investment services, catering to a diverse clientele across the region. The bank offers a range of core products and services, including personal and business loans, savings accounts, and treasury services, distinguished by their customer-centric approach and innovative solutions. Suez Canal Bank has achieved notable milestones, positioning itself as a reliable partner in the financial industry, recognised for its commitment to excellence and sustainable growth. With a strategic focus on enhancing customer experience, Suez Canal Bank continues to strengthen its market position in Egypt and beyond.
DitchCarbon Score
How does SUEZ CANAL 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
SUEZ CANAL BANK's score of 30 is lower than 50% of the industry. This can give you a sense of how well the company is doing compared to its peers.
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SUEZ CANAL BANK's reported carbon emissions
In 2023, Suez Canal Bank reported total carbon emissions of approximately 1,578,880 kg CO2e globally, with emissions distributed across various scopes: 839,880 kg CO2e from Scope 1, which includes direct emissions, and 739,000 kg CO2e from Scope 2, covering indirect emissions from purchased electricity. The bank also disclosed Scope 3 emissions, primarily from investments, amounting to 1,951,708,080 kg CO2e, and fuel and energy-related activities contributing 153,305,170 kg CO2e. For the year 2022, the bank's emissions in Egypt were significantly lower, with Scope 1 emissions at 53,230 kg CO2e and Scope 2 emissions at 46,770 kg CO2e. This indicates a focused effort on managing direct and indirect emissions within its operations. Despite these figures, Suez Canal Bank has not set specific reduction targets or climate pledges, nor does it participate in initiatives such as the Science Based Targets initiative (SBTi). The absence of documented reduction initiatives suggests a need for enhanced climate commitments in line with industry standards. Overall, while Suez Canal Bank has made strides in emissions reporting, the lack of defined reduction targets highlights an opportunity for the bank to strengthen its climate strategy and align with global sustainability goals.
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| 2022 | 2023 | |
|---|---|---|
| Scope 1 | 839,880 | 0,000,000 |
| Scope 2 | 739,000 | 0,000,000 |
| Scope 3 | - | 0,000,000,000 |
How Carbon Intensive is SUEZ CANAL BANK's Industry?
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SUEZ CANAL BANK's Scope 3 Categories Breakdown
Nearly all of their carbon footprint comes from suppliers and value chain emissions, representing nearly all emissions under the GHG Protocol, with "Investments" being the largest emissions source at 93% of Scope 3 emissions.
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SUEZ CANAL 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.
SUEZ CANAL 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.
