Sumitomo Mitsui Banking Sustainability Profile
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.
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
Sumitomo Mitsui Banking's score of 43 is higher than 63% of the industry. This can give you a sense of how well the company is doing compared to its peers.
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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 fluctuations in emissions, there are currently no specific reduction targets or initiatives reported under the Science Based Targets initiative (SBTi) or other climate pledges. The bank's commitment to addressing climate change is evident through its participation in industry initiatives, although specific reduction targets have not been disclosed. As a current subsidiary of Sumitomo Mitsui Financial Group, SMBC aligns its strategies with the overarching goals of its parent organisation, focusing on sustainable practices and emissions management.
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| 2021 | 2022 | 2023 | |
|---|---|---|---|
| Scope 1 | 40,800 | 00,000 | 00,000 |
| Scope 2 | 13,600 | 0,000 | 0,000 |
| Scope 3 | 205,000 | 000,000 | 000,000 |
How Carbon Intensive is Sumitomo Mitsui Banking's Industry?
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Sumitomo Mitsui Banking'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.
Sumitomo Mitsui Banking 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.
