Union Bank Of
Union Bank of India, a prominent player in the Indian banking sector, is headquartered in Mumbai, Maharashtra. Established in 1919, the bank has grown to become one of the largest public sector banks in India, serving millions of customers across the country and internationally. Union Bank operates primarily in the financial services industry, offering a comprehensive range of products including personal banking, corporate banking, and wealth management. Its unique blend of traditional banking services and innovative digital solutions sets it apart in a competitive market. With a strong emphasis on customer service and financial inclusion, Union Bank has achieved significant milestones, including its merger with Andhra Bank and Corporation Bank in 2020, enhancing its market position. The bank continues to be recognised for its commitment to sustainable banking practices and technological advancements.
DitchCarbon Score
How does Union Bank Of'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 Services Auxiliary to 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
Union Bank Of's score of 22 is lower than 87% of the industry. This can give you a sense of how well the company is doing compared to its peers.
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Union Bank Of's reported carbon emissions
In 2023, Union Bank Of reported total carbon emissions of approximately 515,926,000 kg CO2e, comprising 274,042,000 kg CO2e from Scope 1 and 241,884,000 kg CO2e from Scope 2. This data reflects the bank's commitment to transparency in its environmental impact, as it has disclosed emissions for both scopes. Comparatively, in 2022, the bank's emissions were about 476,672,000 kg CO2e, with Scope 1 emissions at 283,485,000 kg CO2e and Scope 2 emissions at 193,187,000 kg CO2e. This indicates a slight increase in total emissions year-on-year. Union Bank Of has not set specific reduction targets or initiatives as part of its climate commitments, nor has it disclosed any Scope 3 emissions data. The absence of defined reduction strategies suggests a need for further development in its sustainability framework. The bank's emissions intensity metrics indicate a focus on improving efficiency relative to revenue, with 6.39e-05 kg CO2e per rupee of turnover in 2023. Overall, while Union Bank Of has made strides in reporting its emissions, the lack of reduction targets highlights an opportunity for enhanced climate action and commitment to sustainability in the banking sector.
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| 2022 | 2023 | |
|---|---|---|
| Scope 1 | 283,485,000 | 000,000,000 |
| Scope 2 | 193,187,000 | 000,000,000 |
| Scope 3 | - | - |
Industry emissions intensity
Location emissions intensity
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.
Union Bank Of 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.
