Alexbank Sustainability Profile
Alexbank, officially known as the Arab African International Bank, is a prominent financial institution headquartered in Egypt. Established in 2005, the bank has made significant strides in the banking sector, particularly in retail and corporate banking, as well as investment services. With a strong presence across major operational regions in Egypt, Alexbank has positioned itself as a key player in the financial services industry. The bank offers a diverse range of core products, including personal loans, credit cards, and business financing solutions, distinguished by their customer-centric approach and innovative digital banking services. Alexbank's commitment to excellence has earned it recognition within the market, solidifying its reputation as a trusted partner for individuals and businesses alike. With a focus on sustainable growth and community development, Alexbank continues to contribute to Egypt's economic landscape.
DitchCarbon Score
How does Alexbank'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
Alexbank's score of 62 is higher than 78% of the industry. This can give you a sense of how well the company is doing compared to its peers.
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Alexbank's reported carbon emissions
In 2023, Alexbank reported total carbon emissions of approximately 19,200,000 kg CO2e, comprising 3,126,000 kg CO2e from Scope 1, 7,747,000 kg CO2e from Scope 2, and 5,754,000 kg CO2e from Scope 3 emissions. The Scope 1 emissions included 174,000 kg CO2e from mobile combustion and 2,891,000 kg CO2e from fugitive emissions. Scope 2 emissions were entirely from purchased electricity, while Scope 3 emissions were primarily driven by fuel and energy-related activities (4,264,000 kg CO2e) and downstream transportation and distribution (683,000 kg CO2e). Alexbank has set ambitious reduction targets, aiming for a 30% decrease in both Scope 1 and Scope 2 emissions by 2030, using 2021 as the baseline year. This commitment reflects a proactive approach to mitigating climate impact and aligns with industry standards for sustainability. The emissions data is cascaded from its parent company, Bank of Alexandria (S.A.E), which is part of the Intesa Sanpaolo S.p.A. corporate family. This relationship ensures that Alexbank's climate commitments are supported by broader initiatives and frameworks established by its parent organisation. Overall, Alexbank's climate strategy demonstrates a commitment to reducing its carbon footprint while contributing to global sustainability efforts.
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| 2019 | 2020 | 2021 | 2022 | 2023 | |
|---|---|---|---|---|---|
| Scope 1 | 71,100 | 00,000 | 000,000 | 00,000,000 | 0,000,000 |
| Scope 2 | 8,056,500 | 0,000,000 | 0,000,000 | 0,000,000 | 0,000,000 |
| Scope 3 | 4,015,870 | 0,000,000 | 0,000,000 | 0,000,000 | 0,000,000 |
How Carbon Intensive is Alexbank's Industry?
How Carbon Intensive is Alexbank's Location?
Alexbank's Scope 3 Categories Breakdown
Alexbank's Scope 3 emissions, which increased by 8% last year and increased by approximately 43% since 2019, demonstrating supply chain emissions tracking. A significant portion of their carbon footprint comes from suppliers and value chain emissions, with Scope 3 emissions accounting for 35% of total emissions under the GHG Protocol, with "Fuel and Energy Related Activities" being the largest emissions source at 74% of Scope 3 emissions.
Top Scope 3 Categories
Alexbank'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.
Alexbank 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.
