UBank Sustainability Profile
UBank, officially known as UBank Limited, is a prominent Australian digital bank headquartered in Sydney, New South Wales. Established in 2008, UBank has carved a niche in the financial services industry, focusing primarily on online banking solutions, including savings accounts, home loans, and term deposits. With a commitment to innovation, UBank offers competitive interest rates and user-friendly digital platforms, setting itself apart from traditional banks. The bank has achieved significant milestones, including rapid growth in customer base and recognition for its customer-centric approach. As a key player in the Australian banking sector, UBank continues to enhance its market position through unique offerings and a strong emphasis on technology, making banking simpler and more accessible for Australians.
DitchCarbon Score
How does UBank'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 Funds, trusts, and financial vehicles 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
UBank's score of 50 is higher than 77% of the industry. This can give you a sense of how well the company is doing compared to its peers.
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UBank, headquartered in Australia, currently does not report specific carbon emissions data for the most recent year, as indicated by the absence of emissions figures. However, the organisation is part of a corporate family that includes National Australia Bank Limited, from which it inherits relevant climate initiatives and commitments. As a current subsidiary of National Australia Bank Limited, UBank aligns with the broader sustainability goals set by its parent company. National Australia Bank has made significant strides in climate action, including participation in the Carbon Disclosure Project (CDP) and the RE100 initiative, which aims for 100% renewable energy. These initiatives reflect a commitment to reducing carbon footprints and enhancing environmental sustainability. While UBank does not have its own specific reduction targets or climate pledges documented, it benefits from the climate strategies and performance metrics of National Australia Bank. This relationship ensures that UBank is part of a larger movement towards achieving substantial reductions in carbon emissions across the banking sector. In summary, while UBank lacks direct emissions data and specific reduction targets, it is integrated into the climate commitments of National Australia Bank Limited, which actively pursues sustainability initiatives and carbon reduction strategies.
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| 2013 | 2014 | 2015 | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Scope 1 | 20,848,000 | 00,000,000 | 00,000,000 | 00,000,000 | 00,000,000 | 00,000,000 | - | 00,000,000 | 0,000,000 | 000,000 | 0,000,000 | 0,000,000 | 0,000,000 |
| Scope 2 | 177,540,000 | 000,000,000 | 000,000,000 | 000,000,000 | 000,000,000 | 00,000,000 | - | 00,000,000 | 00,000,000 | 00,000,000 | 00,000,000 | - | - |
| Scope 3 | 112,636,000 | 000,000,000 | - | 00,000,000 | 00,000,000 | 00,000,000 | 000,000,000 | 00,000,000 | 0,000 | 00,000,000 | 00,000,000 | 00,000,000 | 00,000,000 |
How Carbon Intensive is UBank's Industry?
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UBank'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.
UBank 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.
