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 44 is higher than 93% 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 2023, Hang Seng Bank reported total carbon 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 a significant 13,565,130 kg CO2e from Scope 2 emissions, mainly from purchased electricity. Additionally, Scope 3 emissions totalled about 854,260 kg CO2e, with business travel contributing the largest share at 578,230 kg CO2e. Comparatively, in 2022, the bank's total emissions were about 15,479,790 kg CO2e, indicating a reduction of approximately 922,530 kg CO2e year-on-year. This trend of decreasing emissions is notable, especially as the bank continues to engage in various sustainability initiatives. Despite these reductions, Hang Seng Bank has faced challenges in establishing long-term climate targets. Their near-term reduction commitments have been withdrawn, and while they have set some targets, they have not committed to a net-zero goal. The bank's current status reflects a commitment to ongoing improvements in their environmental impact, but the absence of a clear long-term strategy may limit their effectiveness in addressing climate change comprehensively. Overall, Hang Seng Bank's emissions data and climate commitments highlight both progress in reducing carbon footprints and the need for more robust long-term strategies to meet global climate goals.
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| 2016 | 2017 | 2018 | 2020 | 2021 | 2022 | 2023 | |
|---|---|---|---|---|---|---|---|
| Scope 1 | 54,400 | 00,000 | 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 |
| Scope 3 | 637,820 | 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.
