The Karnataka Bank Limited Sustainability Profile
The Karnataka Bank Limited, often referred to simply as Karnataka Bank, is a prominent financial institution headquartered in Mangaluru, India. Established in 1924, the bank has grown significantly, serving a diverse clientele across major operational regions in Karnataka and beyond. As a key player in the banking industry, Karnataka Bank offers a wide range of services, including personal banking, corporate banking, and agricultural finance, distinguished by its customer-centric approach and innovative digital solutions. With a strong emphasis on technology, Karnataka Bank has achieved notable milestones, including the introduction of various online banking services that enhance customer convenience. The bank's commitment to excellence has solidified its market position, making it a trusted choice for individuals and businesses alike. Through its unique blend of traditional banking values and modern financial services, Karnataka Bank continues to thrive in a competitive landscape.
DitchCarbon Score
How does The Karnataka Bank Limited'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
The Karnataka Bank Limited's score of 13 is lower than 93% of the industry. This can give you a sense of how well the company is doing compared to its peers.
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The Karnataka Bank Limited's reported carbon emissions
In 2024, The Karnataka Bank Limited reported total carbon emissions of approximately 29,520 kg CO2e, comprising 17,000 kg CO2e from Scope 1 emissions and 12,520 kg CO2e from Scope 2 emissions. This data reflects the bank's operational impact, with Scope 1 emissions primarily arising from fuel used for road transportation of staff and operations, while Scope 2 emissions are attributed to purchased electricity consumption. For the previous year, 2023, the bank disclosed no emissions data, indicating a potential gap in reporting or a shift in operational practices. However, the emissions per rupee of turnover for 2023 were approximately 1.836329e-06 kg CO2e, suggesting a focus on efficiency relative to revenue generation. Currently, The Karnataka Bank Limited 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 defined reduction initiatives may reflect an industry context where many financial institutions are still developing comprehensive climate strategies. Overall, while The Karnataka Bank Limited has made strides in emissions reporting, further commitments and reduction strategies will be essential for aligning with global climate goals.
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| 2024 | |
|---|---|
| Scope 1 | 17,000 |
| Scope 2 | 12,520 |
| Scope 3 | - |
How Carbon Intensive is The Karnataka Bank Limited's Industry?
How Carbon Intensive is The Karnataka Bank Limited's Location?
The Karnataka Bank Limited'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.
The Karnataka Bank Limited 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.
