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Public Profile
Financial Intermediation
JP
updated a month ago

Sumitomo Mitsui Banking

Company website

Sumitomo Mitsui Banking Corporation (SMBC), headquartered in Tokyo, Japan, is a prominent player in the global banking industry. Established in 2001, SMBC has rapidly expanded its operations across Asia, Europe, and the Americas, solidifying its position as a leading financial institution. The bank offers a diverse range of services, including corporate banking, investment banking, and asset management, distinguished by its commitment to customer-centric solutions and innovative financial products. SMBC's unique approach combines traditional banking expertise with cutting-edge technology, enabling it to meet the evolving needs of its clients. With a strong market presence and a reputation for reliability, Sumitomo Mitsui Banking Corporation has achieved significant milestones, including recognition for its robust risk management practices and sustainable finance initiatives. As a key player in the financial sector, SMBC continues to drive growth and innovation in banking.

DitchCarbon Score

How does Sumitomo Mitsui Banking'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.

43

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.

27

Industry Benchmark

Sumitomo Mitsui Banking's score of 43 is higher than 67% of the industry. This can give you a sense of how well the company is doing compared to its peers.

67%

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Sumitomo Mitsui Banking's reported carbon emissions

In 2023, Sumitomo Mitsui Banking Corporation (SMBC), headquartered in Japan, reported total carbon emissions of approximately 23900 kg CO2e for Scope 1, 4400 kg CO2e for Scope 2, and about 196000 kg CO2e for Scope 3 emissions. This data reflects a decrease in Scope 1 emissions from 33300 kg CO2e in 2022 and a reduction in Scope 2 emissions from 7400 kg CO2e in the same year. However, Scope 3 emissions increased slightly from 205000 kg CO2e in 2022. SMBC's emissions data is cascaded from its parent company, Sumitomo Mitsui Financial Group, Inc., which provides a broader context for its climate commitments. Despite the lack of specific reduction targets or initiatives outlined in the provided data, the bank is part of a corporate family that is increasingly focused on sustainability and reducing its carbon footprint. Overall, while SMBC has made progress in reducing its direct emissions, the increase in Scope 3 emissions highlights the ongoing challenges in managing indirect emissions associated with its operations. The bank's commitment to addressing climate change is evident, but further details on specific reduction initiatives or targets would provide a clearer picture of its long-term strategy.

Unlock detailed emissions data

Access structured emissions data, company-specific emission factors, and source documents

202120222023
Scope 1
40,800
00,000
00,000
Scope 2
13,600
0,000
0,000
Scope 3
205,000
000,000
000,000

Industry emissions intensity

Very low
Low
Medium
High
Very high
Some industries are more carbon intensive than others. Sumitomo Mitsui Banking's primary industry is Financial intermediation services, except insurance and pension funding services (65), which is very low in terms of carbon intensity compared to other industries.

Location emissions intensity

Very low
Low
Medium
High
Very high
The carbon intensity of the energy grid powering a company's primary operations has a strong influence on its overall carbon footprint. This request for Sumitomo Mitsui Banking is in JP, which has a low grid carbon intensity relative to other regions.

Reduction initiatives & disclosure networks

Companies disclose and commit to reducing emissions to show they are serious about reducing emissions impact over time. They can also help a company track its progress over time.

Sumitomo Mitsui Banking is not participating in any of the initiatives that we track. This may change over time as the company engages with new initiatives or updates its commitments. DitchCarbon will update this information as it becomes available.

Science Based Targets Initiative
Carbon Disclosure Project
The Climate Pledge
UN Global Compact
RE 100
Climate Action 100
Race To Net Zero
Reduction Actions

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Where does DitchCarbon data come from?

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