Banca March Sustainability Profile
Banca March, a prominent Spanish banking institution, is headquartered in Palma de Mallorca, Spain. Established in 1926, the bank has built a strong reputation in the financial services industry, focusing on private banking, asset management, and corporate banking. With a commitment to personalised service, Banca March distinguishes itself through its unique approach to wealth management and investment solutions tailored to individual client needs. Operating primarily in Spain, Banca March has expanded its reach across major regions, offering a comprehensive range of financial products, including savings accounts, investment funds, and insurance services. The bank's dedication to sustainability and responsible banking practices has earned it recognition in the market, positioning it as a trusted partner for clients seeking long-term financial growth.
DitchCarbon Score
How does Banca March'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
Banca March's score of 20 is lower than 80% of the industry. This can give you a sense of how well the company is doing compared to its peers.
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Banca March's reported carbon emissions
In 2021, Banca March reported total carbon emissions of approximately 515,090 kg CO2e. This figure includes 138,010 kg CO2e from Scope 1 emissions, primarily from mobile combustion, and 259,790 kg CO2e from Scope 3 emissions, with business travel contributing 6,150 kg CO2e. Notably, there were no reported Scope 2 emissions, indicating no emissions from purchased electricity. Comparatively, in 2020, Banca March's total emissions were significantly higher at about 1,615,610 kg CO2e, with Scope 1 emissions at 126,420 kg CO2e, Scope 2 emissions at 1,020,400 kg CO2e, and Scope 3 emissions at 349,770 kg CO2e. This represents a substantial reduction in total emissions from 2020 to 2021. Despite these reductions, Banca March has not set specific science-based targets (SBTi) or documented reduction initiatives. The absence of formal climate pledges or reduction targets suggests a need for further commitment to climate action. The emissions data is not cascaded from any parent organization, indicating that Banca March, S.A. is independently reporting its emissions.
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| 2020 | 2021 | |
|---|---|---|
| Scope 1 | 126,420 | 000,000 |
| Scope 2 | 1,020,400 | - |
| Scope 3 | 349,770 | 000,000 |
How Carbon Intensive is Banca March's Industry?
How Carbon Intensive is Banca March's Location?
Banca March's Scope 3 Categories Breakdown
Banca March's Scope 3 emissions, which decreased by 26% last year and decreased by approximately 26% since 2020, demonstrating supply chain emissions tracking. Most of their carbon footprint comes from suppliers and value chain emissions, with Scope 3 emissions accounting for 65% of total emissions under the GHG Protocol, with "Business Travel" being the primary emissions source at 2% of Scope 3 emissions.
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Banca March'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.
Banca March has established climate goals through participation in recognized frameworks and target-setting initiatives. Companies often set interim 2030 targets and long-term 2050 net-zero goals to demonstrate measurable progress toward decarbonization.
