Hang Seng Bank
Hang Seng Bank Limited, commonly known as Hang Seng Bank, is a prominent financial institution headquartered in Hong Kong (HK). Established in 1933, the bank has grown to become a key player in the banking and financial services industry, primarily serving the Hong Kong and Greater China regions. With a diverse portfolio, Hang Seng Bank offers a range of core products and services, including personal banking, commercial banking, wealth management, and insurance. Its commitment to innovation and customer-centric solutions sets it apart in a competitive market. Recognised for its strong market position, Hang Seng Bank has achieved numerous accolades, reflecting its dedication to excellence and sustainable growth. As a subsidiary of HSBC Holdings, it continues to leverage its extensive network and expertise to deliver exceptional financial services.
DitchCarbon Score
How does Hang Seng 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 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
Hang Seng Bank's score of 41 is higher than 63% of the industry. This can give you a sense of how well the company is doing compared to its peers.
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Hang Seng Bank's reported carbon emissions
In 2024, Hang Seng Bank, headquartered in Hong Kong (HK), reported total carbon emissions of approximately 13,249,620 kg CO2e. This figure includes Scope 1 emissions of about 116,550 kg CO2e, primarily from stationary and mobile combustion, and Scope 2 emissions of approximately 12,258,690 kg CO2e, mainly from purchased electricity. Additionally, the bank's Scope 3 emissions, which encompass business travel, amounted to around 874,380 kg CO2e. Comparatively, in 2023, the bank's total emissions were about 14,281,230 kg CO2e, indicating a reduction of approximately 1,031,610 kg CO2e year-on-year. This reduction is attributed to a decrease in both Scope 1 and Scope 2 emissions, with Scope 1 emissions dropping to about 137,870 kg CO2e and Scope 2 emissions to approximately 13,565,130 kg CO2e. Hang Seng Bank has committed to near-term emissions reduction targets, although specific numerical targets have not been disclosed. The bank is not currently committed to a net-zero target. Their climate initiatives are influenced by their parent company, HSBC Holdings plc, which has set ambitious sustainability goals, including participation in the RE100 initiative aimed at transitioning to 100% renewable energy. Overall, Hang Seng Bank's emissions data reflects a proactive approach to managing carbon output, with ongoing commitments to sustainability and climate action within the financial sector.
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| 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | |
|---|---|---|---|---|---|---|---|---|
| Scope 1 | 54,400 | 00,000 | 000,000 | 000,000 | 000,000 | 00,000 | 000,000 | 000,000 |
| Scope 2 | 23,936,000 | 00,000,000 | 00,000,000 | 00,000,000 | 00,000,000 | 00,000,000 | 00,000,000 | 00,000,000 |
| Scope 3 | 637,820 | 000,000 | 000,000 | 000,000 | 000,000 | 000,000 | 000,000 | 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.
Hang Seng Bank 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.
