China Merchants Bank Sustainability Profile
China Merchants Bank (CMB), headquartered in Shenzhen, China, is a leading commercial bank in the Asia-Pacific region. Established in 1987, CMB has grown significantly, becoming a key player in the banking industry with a focus on retail banking, corporate banking, and wealth management services. The bank is renowned for its innovative financial products, including personal loans, credit cards, and investment services, which cater to a diverse clientele. CMB's commitment to digital banking solutions sets it apart, enhancing customer experience and operational efficiency. With a strong market position, CMB has received numerous accolades for its financial performance and customer service, solidifying its reputation as a trusted financial institution in China and beyond.
DitchCarbon Score
How does China Merchants Bank'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
China Merchants Bank's score of 44 is higher than 64% of the industry. This can give you a sense of how well the company is doing compared to its peers.
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China Merchants Bank's reported carbon emissions
In 2024, China Merchants Bank (CMB) reported total carbon emissions of approximately 2,800,600,000 kg CO2e across all scopes. This includes 53,300,000 kg CO2e from Scope 1 emissions, primarily from mobile combustion (3,400,000 kg CO2e) and fugitive emissions (41,600,000 kg CO2e). Scope 2 emissions totalled about 465,900,000 kg CO2e, with the majority coming from purchased electricity (444,500,000 kg CO2e). The bank's Scope 3 emissions were significantly higher, at approximately 2,800,600,000 kg CO2e, largely driven by purchased goods and services (1,708,500,000 kg CO2e) and capital goods (779,100,000 kg CO2e). For 2023, CMB's emissions were slightly lower, with total emissions of about 2,737,100,000 kg CO2e. This comprised 29,300,000 kg CO2e from Scope 1, 474,300,000 kg CO2e from Scope 2, and 2,737,100,000 kg CO2e from Scope 3. CMB has set ambitious reduction targets for its emissions. By 2025, the bank aims to reduce its Scope 1 fixed emission source carbon emissions by 20% compared to 2023 levels. Additionally, it plans to decrease Scope 2 purchased electricity carbon emissions by 4% over the same period. CMB's emissions data is sourced directly from China Merchants Bank Co., Ltd., with no cascaded data from parent or related organizations. The bank's commitment to reducing its carbon footprint aligns with industry standards and reflects a proactive approach to climate change mitigation.
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| 2022 | 2023 | 2024 | |
|---|---|---|---|
| Scope 1 | 23,100,000 | 00,000,000 | 00,000,000 |
| Scope 2 | 455,000,000 | 000,000,000 | 000,000,000 |
| Scope 3 | 2,457,800,000 | 0,000,000,000 | 0,000,000,000 |
How Carbon Intensive is China Merchants Bank's Industry?
How Carbon Intensive is China Merchants Bank's Location?
China Merchants Bank's Scope 3 Categories Breakdown
China Merchants Bank's Scope 3 emissions, which increased by 2% last year and increased by approximately 14% since 2022, demonstrating supply chain emissions tracking. The vast majority of their carbon footprint comes from suppliers and value chain emissions, representing the vast majority of total emissions under the GHG Protocol, with "Purchased Goods and Services" being the largest emissions source at 61% of Scope 3 emissions.
Top Scope 3 Categories
China Merchants Bank'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.
China Merchants Bank 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.
