Bank Of Cyprus
Bank of Cyprus Public Company Ltd, commonly known as Bank of Cyprus, is a leading financial institution headquartered in Nicosia, Cyprus (CY). Established in 1899, it has played a pivotal role in the Cypriot banking sector, expanding its operations across Europe and the UK. The bank primarily operates in the banking and financial services industry, offering a comprehensive range of products including personal and business banking, wealth management, and investment services. With a strong focus on innovation, Bank of Cyprus is recognised for its digital banking solutions, enhancing customer experience and accessibility. The bank has achieved significant milestones, including its successful recovery following the financial crisis of 2013, positioning itself as a key player in the region. Its commitment to customer service and financial stability continues to solidify its market position as a trusted banking partner in Cyprus and beyond.
DitchCarbon Score
How does Bank Of Cyprus'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
Bank Of Cyprus's score of 38 is higher than 88% of the industry. This can give you a sense of how well the company is doing compared to its peers.
Let us know if this data was useful to you
Bank Of Cyprus's reported carbon emissions
In 2023, Bank of Cyprus reported total carbon emissions of approximately 3,244,680,000 kg CO2e. This figure includes Scope 1 emissions of about 1,034,000 kg CO2e, primarily from stationary combustion (230,000 kg CO2e) and fugitive emissions (584,000 kg CO2e). Scope 2 emissions, resulting from purchased electricity, accounted for approximately 10,529,000 kg CO2e. The bank's Scope 3 emissions were significant, totalling around 2,844,000,000 kg CO2e, with major contributions from purchased goods and services (16,512,000 kg CO2e) and employee commuting (2,062,000 kg CO2e). In comparison, the bank's total emissions in 2022 were about 2,895,692,000 kg CO2e, indicating an increase in emissions year-on-year. The breakdown for 2022 shows Scope 1 emissions at approximately 1,114,000 kg CO2e and Scope 2 emissions at about 11,906,000 kg CO2e, while Scope 3 emissions were around 2,828,000,000 kg CO2e. Despite these figures, Bank of Cyprus has not publicly committed to specific reduction targets or initiatives, as indicated by the absence of documented reduction targets or climate pledges. The bank's emissions intensity metrics for Scope 3 indicate a value of 0.589 kg CO2e per unit of revenue in 2023, reflecting its operational impact relative to financial performance. Overall, while Bank of Cyprus has made strides in measuring its carbon footprint, the lack of defined reduction targets suggests an opportunity for further commitment to climate action.
Unlock detailed emissions data
Access structured emissions data, company-specific emission factors, and source documents
| 2020 | 2021 | 2022 | 2023 | |
|---|---|---|---|---|
| Scope 1 | 575,140 | 0,000,000 | 0,000,000 | 0,000,000 |
| Scope 2 | - | 00,000,000 | 00,000,000 | 00,000,000 |
| Scope 3 | - | 00,000,000 | 00,000,000 | 00,000,000 |
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.
Bank Of Cyprus 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.
