Hang Seng Bank

Hang Seng Bank's reported carbon emissions

In 2023, Hang Seng Bank, headquartered in Hong Kong, reported total greenhouse gas emissions of approximately 14,557,260 kg CO2e. This figure includes 137,870 kg CO2e from Scope 1 emissions, primarily from mobile and stationary combustion, and 13,565,130 kg CO2e from Scope 2 emissions, mainly from purchased electricity. Additionally, the bank's Scope 3 emissions totalled 854,260 kg CO2e, with significant contributions from business travel and fuel-related activities. The bank has set near-term climate commitments, although it has not yet established a net-zero target. As of July 2022, Hang Seng Bank is committed to reducing its emissions, with its targets classified as "Committed" under the Science Based Targets initiative (SBTi). However, it is important to note that some previous commitments have been removed or withdrawn. Hang Seng Bank's emissions data is cascaded from its parent company, HSBC Holdings plc, which influences its sustainability initiatives. The bank's ongoing efforts reflect its commitment to addressing climate change within the financial sector, aligning with broader industry standards and expectations.