State Bank Of India Sustainability Profile
State Bank of India (SBI), headquartered in Mumbai, India, is a leading financial institution in the banking sector. Established in 1955, SBI has grown to become the largest bank in India, with a significant presence across various regions, including urban and rural areas. Operating in the banking and financial services industry, SBI offers a diverse range of products and services, including retail banking, corporate banking, and investment solutions. Its unique offerings, such as the YONO app, enhance customer experience by integrating banking with lifestyle services. With a robust market position, SBI has consistently been recognised for its financial strength and innovation, making it a trusted choice for millions of customers. The bank's commitment to digital transformation and financial inclusion further solidifies its status as a cornerstone of India's banking landscape.
DitchCarbon Score
How does State Bank Of India'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
State Bank Of India's score of 24 is lower than 61% of the industry. This can give you a sense of how well the company is doing compared to its peers.
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State Bank Of India's reported carbon emissions
In 2023, the State Bank of India reported total carbon emissions of approximately 215,000,000 kg CO2e. This figure includes Scope 1 emissions of about 7,436,110 kg CO2e, which encompasses direct emissions from owned or controlled sources, including fugitive emissions of approximately 2,003,440 kg CO2e. Scope 2 emissions, representing indirect emissions from the generation of purchased electricity, steam, heating, and cooling, amounted to about 201,192,570 kg CO2e. Additionally, Scope 3 emissions, which cover all other indirect emissions in the value chain, totalled approximately 54,745,690 kg CO2e. Comparatively, in 2022, the bank's total emissions were about 116,000,000 kg CO2e, with Scope 1 emissions at approximately 11,717,340 kg CO2e, including fugitive emissions of around 2,131,970 kg CO2e, and Scope 2 emissions at about 163,552,000 kg CO2e. Scope 3 emissions for that year were approximately 46,482,910 kg CO2e. Despite these significant emissions figures, the State Bank of India has not publicly disclosed specific reduction targets or climate pledges. The absence of documented reduction initiatives suggests a need for enhanced climate commitments within the banking sector. The bank's emissions data is not cascaded from any parent organisation, indicating that these figures are independently reported.
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| 2022 | 2023 | |
|---|---|---|
| Scope 1 | 11,717,340 | 0,000,000 |
| Scope 2 | 163,552,000 | 000,000,000 |
| Scope 3 | 46,482,910 | 00,000,000 |
How Carbon Intensive is State Bank Of India's Industry?
How Carbon Intensive is State Bank Of India's Location?
State Bank Of India'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.
State Bank Of India 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.
