Banco Espirito Santo Sustainability Profile
Banco Espírito Santo, often referred to as BES, is a prominent financial institution headquartered in Portugal (PT). Established in 1869, it has a rich history marked by significant milestones in the banking sector. The bank primarily operates in Portugal and has a notable presence in various international markets. As a key player in the banking industry, Banco Espírito Santo offers a diverse range of services, including retail banking, corporate finance, and investment solutions. Its unique approach to customer service and innovative financial products distinguishes it from competitors. With a strong market position, Banco Espírito Santo has achieved recognition for its commitment to sustainability and community engagement, making it a trusted choice for individuals and businesses alike.
DitchCarbon Score
How does Banco Espirito Santo'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
Banco Espirito Santo's score of 25 is lower than 67% of the industry. This can give you a sense of how well the company is doing compared to its peers.
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Banco Espirito Santo's reported carbon emissions
In 2013, Banco Espírito Santo reported total carbon emissions of approximately 21,641,000 kg CO2e, which includes 7,838,000 kg CO2e from Scope 1, 13,803,000 kg CO2e from Scope 2, and 9,885,000 kg CO2e from Scope 3 emissions. The Scope 1 and 2 emissions combined accounted for about 21,641,000 kg CO2e. The bank's emissions have shown fluctuations over the years, with 2012 emissions at approximately 25,388,000 kg CO2e and 2011 emissions at about 20,697,000 kg CO2e. Notably, the Scope 3 emissions, which include significant contributions from business travel and employee commuting, were approximately 9,885,000 kg CO2e in 2013. Banco Espírito Santo is committed to addressing climate change through various initiatives. The bank is a member of the Science Based Targets initiative (SBTi) and has set near-term targets aligned with a 1.5°C pathway. These targets are expected to cover 15% of its total investment and lending by total balance sheet assets as of 2021, with a commitment to submit further targets by July 31, 2023. While the bank has not committed to a net-zero target, it is actively working towards reducing its operational emissions in line with industry standards. The emissions data is sourced directly from Banco Espírito Santo, S.A., with no cascaded data from parent organizations.
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| 2008 | 2009 | 2010 | 2011 | 2012 | 2013 | |
|---|---|---|---|---|---|---|
| Scope 1 | 4,958,000 | 0,000,000 | 0,000,000 | 0,000,000 | 0,000,000 | 0,000,000 |
| Scope 2 | 22,454,000 | 00,000,000 | 00,000,000 | 00,000,000 | 00,000,000 | 00,000,000 |
| Scope 3 | 10,780,000 | 00,000,000 | 0,000,000 | 0,000,000 | 0,000,000 | 0,000,000 |
How Carbon Intensive is Banco Espirito Santo's Industry?
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Banco Espirito Santo's Scope 3 Categories Breakdown
Banco Espirito Santo's Scope 3 emissions, which increased by 1% last year and decreased by approximately 8% since 2008, 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 31% of total emissions under the GHG Protocol, with "Employee Commuting" being the largest emissions source at 79% of Scope 3 emissions.
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Banco Espirito Santo'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.
Banco Espirito Santo 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.
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Frequently Asked Questions
Common questions about Banco Espirito Santo's sustainability data and climate commitments