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Hang Seng Bank
Financial IntermediationHong Kong SAR ChinaPNK: HSNGF
Last verified 6 months agohangseng.com
Hang Seng Bank Limited, commonly referred to as Hang Seng Bank, is a leading financial institution headquartered in Hong Kong. Established in 1933, the bank has a long-standing history of providing comprehensive financial intermediation services, excluding insurance and pension funding. Its core operations span retail banking, commercial banking, and wealth management, serving a diverse client base across Hong Kong and mainland China.
Recognised for its stability and innovative banking solutions, Hang Seng Bank has built a strong market position within the region’s financial sector. The bank’s commitment to customer service and technological advancement has contributed to its reputation as a trusted name in financial intermediation services. With a focus on personalised banking experiences and robust financial products, Hang Seng continues to play a vital role in Hong Kong’s banking landscape.
36
DitchCarbon score
-1 vs industry average
Hang Seng Bank’s score of 36 is higher than 51% 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
Very Low
Financial Intermediation is among the least carbon-intensive industries
Industry performance
0.096
20182025
The Financial Intermediation industry has reduced its overall emissions by 33% since 2018
Emissions trajectory 2020 – 2026
2020202120222023202420252026
Reported emissions
Scope 1
•••kg CO₂e
Scope 2
•••kg CO₂e
Scope 3
•••kg CO₂e
Total reported
•••kg CO₂e
Scope 3 accounts for ••• of total emissions.
Hang Seng Bank's reported carbon emissions
Hang Seng Bank, a Hong Kong-headquartered financial intermediation services provider, did not disclose its total carbon emissions for 2024.
However, in 2023, the bank reported total carbon emissions of approximately 14,557,260 kg CO2e. This included Scope 1 emissions of about 137,870 kg CO2e, Scope 2 emissions of approximately 13,565,130 kg CO2e (primarily from purchased electricity), and Scope 3 emissions of around 854,260 kg CO2e. Key contributors to Scope 3 emissions in 2023 were business travel (578,230 kg CO2e), fuel and energy-related activities (260,020 kg CO2e), and upstream transportation and distribution (16,020 kg CO2e). The bank's 2023 Scope 1 and 2 emissions factor per employee was 0.003094076970769572.
Looking back, the bank's total emissions have shown a general downward trend since 2018:
- 2022: Approximately 15,479,790 kg CO2e (Scope 1: 100,580 kg CO2e, Scope 2: 14,992,890 kg CO2e, Scope 3: 386,320 kg CO2e).
- 2021: Approximately 16,411,020 kg CO2e (Scope 1: 70,160 kg CO2e, Scope 2: 15,973,040 kg CO2e, Scope 3: 367,810 kg CO2e).
- 2020: Approximately 19,571,590 kg CO2e (Scope 1: 144,520 kg CO2e, Scope 2: 18,904,470 kg CO2e, Scope 3: 522,600 kg CO2e).
- 2019: Approximately 20,926,670 kg CO2e (Scope 1: 193,870 kg CO2e, Scope 2: 19,865,000 kg CO2e, Scope 3: 867,800 kg CO2e).
- 2018: Approximately 21,610,840 kg CO2e (Scope 1: 192,200 kg CO2e, Scope 2: 20,514,000 kg CO2e, Scope 3: 904,640 kg CO2e).
- 2017: Approximately 22,881,430 kg CO2e (Scope 1: 64,450 kg CO2e, Scope 2: 22,131,000 kg CO2e, Scope 3: 685,980 kg CO2e).
- 2016: Approximately 24,628,220 kg CO2e (Scope 1: 54,400 kg CO2e, Scope 2: 23,936,000 kg CO2e, Scope 3: 637,820 kg CO2e).
Hang Seng Bank's climate commitments include having "Targets Set" for long-term targets and "Committed" for near-term targets according to the Science Based Targets initiative (SBTi), with the commitment date of July 2022. The bank is a current subsidiary of HSBC Holdings plc, and as such, RE100 commitments are cascaded from its ultimate parent.
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Hang Seng Bank’s Climate Goals (2030 & 2050)
No climate goals have been disclosed for Hang Seng Bank yet.
Scope 3 top emissions categories
3 of 15 categories disclosedSee all scope 3 categories
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Climate initiatives
Science Based Targets Initiative
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Not active
Carbon Disclosure Project
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Active
The Climate Pledge
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Not active
UN Global Compact Climate Champions initiative
Inherited from HSBC Holdings plcSee details
Not active
RE 100
Inherited from HSBC Holdings plcSee details
Not active
Climate Action 100
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Not active
Emissions comparison with industry peers
View similar organisationsCompanyCountryIndustryLast updatedScoreDetails
Hang Seng Bank6 months ago
36
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Frequently asked questions
Common questions about Hang Seng Bank’s sustainability data and climate commitments
In 2023, Hang Seng Bank reported total carbon emissions of approximately 14,557,260 kg CO2e. This figure comprises roughly 137,870 kg CO2e from Scope 1 emissions, approximately 13,565,130 kg CO2e from Scope 2 (primarily from purchased electricity), and around 854,260 kg CO2e from Scope 3 emissions. The majority of Scope 3 emissions were attributed to business travel, fuel and energy-related activities, and upstream transportation and distribution, reflecting the bank's operational and value chain impact.
Data year: 2023
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