Chong Hing Bank Sustainability Profile
Chong Hing Bank, a prominent financial institution headquartered in Hong Kong (HK), has been serving the community since its establishment in 1948. With a strong presence in the banking industry, the bank primarily focuses on retail banking, corporate banking, and wealth management services, catering to a diverse clientele across the region. Over the years, Chong Hing Bank has achieved significant milestones, including the expansion of its branch network and the introduction of innovative financial products. Its core offerings, such as personal loans, savings accounts, and investment services, are designed to meet the evolving needs of customers, setting the bank apart in a competitive market. Recognised for its commitment to customer service and financial stability, Chong Hing Bank continues to strengthen its market position, making it a trusted choice for individuals and businesses alike in Hong Kong and beyond.
DitchCarbon Score
How does Chong Hing 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
Chong Hing Bank's score of 41 is higher than 60% of the industry. This can give you a sense of how well the company is doing compared to its peers.
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Chong Hing Bank's reported carbon emissions
In 2024, Chong Hing Bank reported total global carbon emissions of approximately 2,595,600 kg CO2e. This figure includes Scope 1 emissions of about 19,600 kg CO2e, primarily from mobile combustion, and Scope 2 emissions of approximately 2,344,000 kg CO2e from purchased electricity. Additionally, the bank's Scope 3 emissions, specifically from waste generated in operations, amounted to around 232,030 kg CO2e. The combined Scope 1 and 2 emissions totalled about 2,363,600 kg CO2e. For the previous year, 2023, the bank's total emissions were slightly higher at approximately 2,643,200 kg CO2e, with Scope 1 emissions at about 16,400 kg CO2e and Scope 2 emissions at approximately 2,626,800 kg CO2e. Notably, there is no disclosed data for Scope 3 emissions for that year. Chong Hing Bank's emissions data is cascaded from its parent company, Guangzhou Yuexiu Group Co., Ltd., reflecting its commitment to transparency and accountability in environmental performance. However, the bank has not set specific reduction targets or initiatives as part of its climate commitments, indicating a potential area for future development in sustainability practices. The bank's GHG emissions intensity per Gross Floor Area (GFA) was reported at 80.0 kg CO2e/m² in 2024, showing a focus on measuring emissions relative to operational scale. This metric is crucial for understanding the bank's environmental impact in relation to its physical footprint. Overall, while Chong Hing Bank has made strides in reporting its emissions, the absence of defined reduction targets suggests an opportunity for enhanced climate action moving forward.
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| 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | |
|---|---|---|---|---|---|---|---|---|
| Scope 1 | 33,500 | 00,000 | 00,000 | 00,000 | 00,000 | 00,000 | 00,000 | 00,000 |
| Scope 2 | 4,011,700 | 0,000,000 | 0,000,000 | 0,000,000 | 0,000,000 | 0,000,000 | 0,000,000 | 0,000,000 |
| Scope 3 | - | - | - | - | - | - | - | 000,000 |
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Chong Hing Bank's Scope 3 Categories Breakdown
Their carbon footprint includes suppliers and value chain emissions, with Scope 3 emissions accounting for 9% of total emissions under the GHG Protocol, with "Waste Generated in Operations" representing nearly all of their reported Scope 3 footprint.
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Chong Hing 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.
Chong Hing 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.
