Hong Leong Bank Sustainability Profile
Hong Leong Bank Berhad, commonly known as Hong Leong Bank, is a prominent financial institution headquartered in Kuala Lumpur, Malaysia. Established in 1905, the bank has evolved significantly, marking key milestones in its journey, including the expansion of its services across Southeast Asia. Operating primarily in the banking and financial services industry, Hong Leong Bank offers a diverse range of products, including personal and business banking, wealth management, and Islamic banking solutions. Its commitment to innovation and customer-centric services sets it apart in a competitive market. With a strong market position, Hong Leong Bank has garnered numerous accolades for its service excellence and digital banking initiatives, solidifying its reputation as a trusted financial partner in the region.
DitchCarbon Score
How does Hong Leong 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
Hong Leong Bank's score of 51 is higher than 69% of the industry. This can give you a sense of how well the company is doing compared to its peers.
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Hong Leong Bank's reported carbon emissions
In 2024, Hong Leong Bank (HLB), headquartered in Malaysia (MY), reported total carbon emissions of approximately 38,711,000 kg CO2e. This figure includes 103,000 kg CO2e from Scope 1 emissions, 25,220,000 kg CO2e from Scope 2 emissions, and 13,388,000 kg CO2e from Scope 3 emissions. The bank's emissions data is cascaded from its parent company, Hong Leong Bank Berhad, reflecting a comprehensive approach to sustainability across its operations. HLB's commitment to reducing its carbon footprint is evident, although specific reduction targets have not been disclosed. The bank participates in initiatives such as the Carbon Disclosure Project (CDP), which is also a source of its emissions data. However, there are currently no specific science-based targets (SBTi) or climate pledges outlined in their sustainability strategy. In comparison, the bank's emissions in 2023 were approximately 38,588,000 kg CO2e, indicating a slight increase in emissions year-on-year. The bank's ongoing efforts to monitor and report its emissions demonstrate a commitment to transparency and accountability in addressing climate change.
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| 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | |
|---|---|---|---|---|---|---|---|
| Scope 1 | 226,000 | 000,000 | 000,000 | 000,000 | 000,000 | 000,000 | 000,000 |
| Scope 2 | 9,991,000 | 00,000,000 | 00,000,000 | 00,000,000 | 00,000,000 | 00,000,000 | 00,000,000 |
| Scope 3 | - | 00,000,000 | 00,000,000 | 0,000,000 | 0,000,000 | 00,000,000 | 00,000,000 |
How Carbon Intensive is Hong Leong Bank's Industry?
How Carbon Intensive is Hong Leong Bank's Location?
Hong Leong Bank's Scope 3 Categories Breakdown
Hong Leong Bank's Scope 3 emissions, which increased by 12% last year and increased by approximately 8% since 2019, demonstrating supply chain emissions tracking. A significant portion of their carbon footprint comes from suppliers and value chain emissions, with Scope 3 emissions accounting for 34% of total emissions under the GHG Protocol, with "Investments" being the largest emissions source at 13598% of Scope 3 emissions.
Top Scope 3 Categories
Hong Leong Bank's Climate Goals (2030 & 2050)
Climate goals typically focus on 2030 interim targets and 2050 net-zero commitments, aligned with global frameworks like the Paris Agreement and Science Based Targets initiative (SBTi) to ensure alignment with global climate goals.
Hong Leong Bank has not publicly committed to specific 2030 or 2050 climate goals through the major frameworks we track. Companies often set interim 2030 targets and long-term 2050 net-zero goals to demonstrate measurable progress toward decarbonization.
