In 2024, Cathay Financial Holding completed a corporate carbon footprint assessment and publicly disclosed its greenhouse gas (GHG) emissions according to the GHG Protocol, covering Scope 1 (direct emissions from owned or controlled sources), Scope 2 (indirect emissions from purchased energy) and Scope 3 (indirect emissions across the value chain).
Cathay Financial Holding has also provided a category-level breakdown for 11 out of 15 Scope 3 emissions categories, offering greater transparency into its value chain emissions.
| Metric (tCO2e) | 2024 | 2023 | 2022 | 2021-2019 |
|---|---|---|---|---|
Total Scope 1 | 8,601.512a | 5,455.975a | 4,802.45b | |
Total Scope 2 | ||||
Market-Based | 61,342.253a | 60,637.699a | 54,944.72b | |
Location-Based | N/A | N/A | 59,306.16b | |
Total Scope 3 | 13,289,265.46a | 12,369,959.23a | 13,402.54b | |
Total Scope 1 Revenue Intensity (tCO2e/$M) | 0.7807a | 0.6109a | 0.3885b |
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In 2024, the total operational greenhouse gas (GHG) emissions of Cathay Financial Holding amounted to 69,943.765 metric tons of CO2 equivalent. This figure includes both direct emissions from owned or controlled sources (Scope 1) and indirect emissions from purchased energy (Scope 2).a
Compared to 2023, the total operational greenhouse gas (GHG) emissions of Cathay Financial Holding increased by 5.83%, suggesting that the company faced challenges in reducing its emissions from its core operations.a
In 2024, the total Scope 1 emissions of Cathay Financial Holding were 8,601.512 metric tons of CO₂ equivalent (tCO₂e).a
Since 2020, Cathay Financial Holding's Scope 1 emissions have increased by 125.4%, reflecting a rising long-term trend in Scope 1 emissions over time.ab
Compared to the previous year (2023), Cathay Financial Holding's Scope 1 emissions increased by 57.65%, suggesting that the company faced challenges in reducing emissions from its directly owned or controlled operations.a
In 2024, Cathay Financial Holding reported Scope 2 greenhouse gas (GHG) emissions of 61,342.253 tCO₂e using the market-based method.a
Compared to the previous year (2023), Cathay Financial Holding's Scope 2 emissions (Market-Based) have remained relatively stable, indicating that Cathay Financial Holding's emissions have plateaued with no significant change in its energy consumption footprint.a
In 2024, Cathay Financial Holding reported its Scope 2 emissions using the market-based method.a
In 2024, Cathay Financial Holding reported 13,289,265.46 metric tons of CO₂ equivalent (tCO₂e) of Scope 3 greenhouse gas (GHG) emissions, representing indirect emissions across its upstream and downstream value chain.a
The 2024 disclosure of Cathay Financial Holding includes a breakdown across 11 of the 15 Scope 3 categories defined by the GHG Protocol, matching the level of disclosure in 2023, demonstrating consistent Scope 3 emissions reporting coverage year over year.a
In 2024, Cathay Financial Holding reported total Scope 3 emissions of 13,289,265.46 metric tons of CO₂ equivalent (tCO₂e).a
Approximately 2.4% of these emissions originated from upstream activities such as purchased goods and capital goods, while 97.6% came from downstream activities like product use, distribution, and end-of-life treatment.a
Since 2020, Cathay Financial Holding's Scope 3 emissions have increased by 72,604.31%, reflecting a rising long-term trend in Scope 3 emissions over time.ab
Compared to the previous year (2023), Cathay Financial Holding's Scope 3 emissions remained relatively stable, indicating that Cathay Financial Holding's emissions have plateaued with no significant change in its value chain footprint.a
In 2024, Cathay Financial Holding reported emissions for 11 out of the 15 Scope 3 categories defined by the GHG Protocol.a
This reflects a high level of granularity and transparency in the company's emissions reporting.
In 2024, the largest contributors to Cathay Financial Holding's Scope 3 emissions were:a
In 2024, Cathay Financial Holding reported Scope 1 greenhouse gas (GHG) emissions of 8,601.512 tCO₂e and total revenues of USD 11,018 millions. This translates into an emissions intensity of 0.78 tCO₂e per millions USD.a
In 2024, Cathay Financial Holding reported a Scope 1 emissions intensity of 0.78 tCO₂e per millions USD. Compared to the peer group median of 0.38, this places the company above its industry benchmark, indicating it is less carbon-efficient than most competitors.a
In 2024, Cathay Financial Holding ranked 20 out of 24 companies in its industry peer group, based on Scope 1 emissions intensity (measured in tCO₂e per millions USD).a
This places Cathay Financial Holding among the least efficient performers, with one of the highest emissions intensities in its sector.a
In 2024, Cathay Financial Holding reported a total carbon footprint of 13,359,209.225 metric tons of CO₂ equivalent (tCO₂e) across Scope 1, Scope 2, and Scope 3 emissions. This represents a 7.42% increase compared to 2023, suggesting a rise in emissions across its operations or value chain.a
The largest contributor to Cathay Financial Holding's total carbon footprint was Scope 3 emissions, accounting for 99.48% of the company's total carbon footprint, followed by Scope 2 emissions at 0.46%.a