Bank of Cyprus, officially known as the Bank of Cyprus Public Company Ltd, is a leading financial institution headquartered in Nicosia, Cyprus. Established in 1899, it has a long-standing history of providing comprehensive financial intermediation services across Cyprus and the wider region. The bank specialises in a broad range of banking solutions, including retail, corporate, and private banking, with a focus on innovative digital offerings that enhance customer experience.
As one of the most prominent banks in Cyprus, Bank of Cyprus has built a strong market position through its extensive branch network and commitment to financial stability. Its core products include savings accounts, loans, and investment services, distinguished by tailored solutions and a deep understanding of local market needs. Recognised for its resilience and growth, the bank continues to play a vital role in supporting economic development within Cyprus and beyond.
+20 vs industry average
Bank Of Cyprus’s score of 57 is higher than 72% of the industry. This can give you a sense of how well the company is doing compared to its peers.
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Industry Intensity
Financial Intermediation is among the least carbon-intensive industries
Industry performance
The Financial Intermediation industry has increased its overall emissions by 11% since 2019
Emissions trajectory 2020 – 2028
Reported emissions
Scope 3 accounts for ••• of total emissions.
Bank Of Cyprus's reported carbon emissions
Bank of Cyprus, headquartered in CY and operating within financial intermediation services, has outlined significant commitments to reduce its carbon footprint. For the reporting year 2025, the bank reported an estimated total of approximately 128.2 billion kg CO2e. This figure comprises Scope 1 emissions totalling about 103.7 billion kg CO2e, Scope 2 emissions of approximately 8.4 billion kg CO2e, and Scope 3 emissions of about 1.09 billion kg CO2e.
In 2024, Bank of Cyprus's total emissions were approximately 112.3 billion kg CO2e. Scope 1 emissions were around 63 billion kg CO2e, Scope 2 emissions were about 8.2 billion kg CO2e, and Scope 3 emissions reached approximately 1.1 billion kg CO2e.
For the reporting year 2024 (based on data from 2023), Bank of Cyprus reported total emissions of about 8.8 million kg CO2e. This included Scope 1 emissions of approximately 2.7 million kg CO2e and Scope 2 emissions of about 8.5 million kg CO2e. Scope 3 emissions data were not disclosed for this period.
In the reporting year 2023 (based on data from 2022), the bank's total emissions were approximately 32.3 million kg CO2e. This included Scope 1 emissions of about 1 million kg CO2e, Scope 2 emissions of approximately 10.4 million kg CO2e, and Scope 3 emissions of around 20.9 million kg CO2e.
For the reporting year 2023 (based on data from 2021), Bank of Cyprus's total emissions amounted to approximately 34.2 million kg CO2e. This consisted of Scope 1 emissions of around 1 million kg CO2e, Scope 2 emissions of about 11.4 million kg CO2e, and Scope 3 emissions of approximately 21.8 million kg CO2e.
Bank of Cyprus has a long-term ambition to become Net Zero by 2050, encompassing reductions across Scope 1, Scope 2, and Scope 3 emissions, particularly through its supply chain and financing activities. The group aims to become carbon-neutral in its own operations by gradually eliminating its Scope 1 and 2 greenhouse gas emissions by 2050. As an interim measure, it has set a target to reduce Scope 1 and Scope 2 greenhouse gas emissions by 42% (absolute target) by 2030, compared to a 2021 baseline. The company's emissions data is not cascaded from a parent organisation.
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Bank Of Cyprus’s Climate Goals (2030 & 2050)
2 goals2030
42% reduction in all scopes
The Group aims to become carbon-neutral in own operations by 2050, by gradually eliminating its scope 1 and 2 GHG emissions. The Group has s…
2030
62% reduction in total GHG
Vs 2019 baseline. Validated by SBTi. Includes full supply chain.
2040
50% reduction in Scope 3 intensity
Across purchased goods and services and logistics.
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Scope 3 top emissions categories
3 of 15 categories disclosedSee all scope 3 categories
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Climate initiatives
Science Based Targets Initiative
Carbon Disclosure Project
The Climate Pledge
UN Global Compact Climate Champions initiative
RE 100
Climate Action 100
Emissions comparison with industry peers
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Bank Of Cyprus
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