Kotak Mahindra Bank Sustainability Profile
Kotak Mahindra Bank, a prominent player in the Indian banking sector, is headquartered in Mumbai, India. Founded in 1985, the bank has evolved from a financial services company into a full-fledged commercial bank, officially receiving its banking licence in 2003. With a strong presence across major operational regions in India, Kotak Mahindra Bank offers a diverse range of financial products and services, including retail banking, corporate banking, and wealth management. The bank is renowned for its innovative digital banking solutions and customer-centric approach, setting it apart in a competitive market. As one of the leading private sector banks in India, Kotak Mahindra Bank has achieved significant milestones, including a robust market position and numerous awards for excellence in service and technology. Its commitment to financial inclusion and sustainable growth continues to drive its success in the industry.
DitchCarbon Score
How does Kotak Mahindra 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
Kotak Mahindra Bank's score of 30 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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Kotak Mahindra Bank's reported carbon emissions
In 2024, Kotak Mahindra Bank reported total carbon emissions of approximately 84,039,000 kg CO2e for Scope 1, 85,788,900 kg CO2e for Scope 2, and 47,005,300 kg CO2e for Scope 3 emissions in India. This reflects a comprehensive approach to emissions reporting, covering all three scopes of greenhouse gas emissions. Comparatively, in 2023, the bank's emissions were approximately 11,890,000 kg CO2e for Scope 1, 69,466,000 kg CO2e for Scope 2, and 73,842,900 kg CO2e for Scope 3. This indicates a notable reduction in Scope 1 emissions, while Scope 2 and Scope 3 emissions saw slight fluctuations. Kotak Mahindra Bank has not set specific reduction targets under the Science Based Targets initiative (SBTi) or other formal climate pledges. However, the bank is actively engaged in climate-related initiatives, as evidenced by its participation in the Carbon Disclosure Project (CDP). The bank's emissions intensity metrics indicate a total Scope 1 and Scope 2 emission intensity of 0.0034 kg CO2e per rupee of turnover, adjusted for Purchasing Power Parity (PPP), and an employee-related intensity of 1210.0 kg CO2e per employee. Overall, Kotak Mahindra Bank demonstrates a commitment to transparency in its emissions reporting, although it currently lacks formal reduction targets. The bank's emissions data reflects its ongoing efforts to monitor and manage its carbon footprint effectively.
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| 2014 | 2015 | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Scope 1 | 56,820 | - | - | - | - | 00,000 | 00,000 | 0,000,000 | 0,000,000 | 00,000,000 |
| Scope 2 | 14,003,280 | - | - | - | - | 00,000,000 | 00,000,000 | 00,000,000 | 00,000,000 | 00,000,000 |
| Scope 3 | - | - | - | - | - | 0,000,000 | - | - | 00,000,000 | 00,000,000 |
How Carbon Intensive is Kotak Mahindra Bank's Industry?
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Kotak Mahindra Bank's Scope 3 Categories Breakdown
Kotak Mahindra Bank's Scope 3 emissions, which increased by 39% last year and increased by approximately 718% 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 45% of total emissions under the GHG Protocol, with "Capital Goods" being the largest emissions source at 53% of Scope 3 emissions.
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Kotak Mahindra 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.
Kotak Mahindra 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.
