Hang Seng Bank

Hang Seng Bank Limited, a financial intermediation services provider headquartered in Hong Kong, reported a total of 14.56 million kg CO2e in Scope 1, 2, and 3 emissions for 2023. This figure includes approximately 137,870 kg CO2e for Scope 1 emissions, primarily from stationary and mobile combustion, and about 13.57 million kg CO2e for Scope 2 emissions, mainly from purchased electricity. Scope 3 emissions for 2023 amounted to approximately 854,260 kg CO2e, with business travel and fuel and energy-related activities being key contributors.

In 2022, the bank's total emissions were approximately 15.48 million kg CO2e, comprising about 100,580 kg CO2e of Scope 1, roughly 15 million kg CO2e of Scope 2, and approximately 386,320 kg CO2e of Scope 3 emissions. Prior to that, in 2021, total emissions were around 16.41 million kg CO2e, with Scope 1 at approximately 70,160 kg CO2e, Scope 2 at nearly 16 million kg CO2e, and Scope 3 at about 367,810 kg CO2e. In 2020, total emissions were approximately 19.57 million kg CO2e, and in 2019, they stood at around 20.93 million kg CO2e.

Hang Seng Bank has had near-term Science Based Targets initiative (SBTi) reduction targets. However, these commitments have been withdrawn or removed as of recent reporting periods, with no current long-term targets or net-zero commitments specified. The bank's emission data is for Hang Seng Bank Limited itself and does not appear to be cascaded from a parent organisation for its primary reporting.