In 2024, China Merchants Bank 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).
China Merchants Bank has also provided a category-level breakdown for 8 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 | 53,300a | 29,300a | 23,100a | |
Total Scope 2 | ||||
Unspecified Calculation Method | 465,900a | 474,300a | 455,000a | |
Total Scope 3 | 2,800,600a | 2,737,100a | 2,457,800a | |
Total Scope 1 Revenue Intensity (tCO2e/$M) | 1.1617a | 0.6186a | 0.47a |
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In 2024, the total operational greenhouse gas (GHG) emissions of China Merchants Bank amounted to 519,200 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 China Merchants Bank increased by 3.1%, suggesting that the company faced challenges in reducing its emissions from its core operations.a
In 2024, the total Scope 1 emissions of China Merchants Bank were 53,300 metric tons of CO₂ equivalent (tCO₂e).a
Since 2021, China Merchants Bank's Scope 1 emissions have increased by 231.06%, reflecting a rising long-term trend in Scope 1 emissions over time.ab
Compared to the previous year (2023), China Merchants Bank's Scope 1 emissions increased by 81.91%, suggesting that the company faced challenges in reducing emissions from its directly owned or controlled operations.a
In 2024, China Merchants Bank reported Scope 2 greenhouse gas (GHG) emissions of 465,900 tCO₂e without specifying the calculation method.a
Since 2021, China Merchants Bank's Scope 2 greenhouse gas (GHG) emissions (Unspecified Calculation Method) have increased by 19%, reflecting a rising long-term trend in Scope 2 emissions over time.ab
Compared to the previous year (2023), China Merchants Bank's Scope 2 emissions (Unspecified Calculation Method) have remained relatively stable, indicating that China Merchants Bank's emissions have plateaued with no significant change in its energy consumption footprint.a
In 2024, China Merchants Bank reported its Scope 2 emissions using an unspecified methodology.a
In 2024, China Merchants Bank reported 2,800,600 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 China Merchants Bank includes a breakdown across 8 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, China Merchants Bank reported total Scope 3 emissions of 2,800,600 metric tons of CO₂ equivalent (tCO₂e).a
Approximately 99.44% of these emissions originated from upstream activities such as purchased goods and capital goods, while 0.56% came from downstream activities like product use, distribution, and end-of-life treatment.a
Since 2021, China Merchants Bank's Scope 3 emissionshave remained relatively stable, indicating that China Merchants Bank's emissions have plateaued with no significant change in its value chain footprint.ab
Compared to the previous year (2023), China Merchants Bank's Scope 3 emissions remained relatively stable, indicating that China Merchants Bank's emissions have plateaued with no significant change in its value chain footprint.a
In 2024, China Merchants Bank reported emissions for 8 out of the 15 Scope 3 categories defined by the GHG Protocol.a
This partial disclosure allows for some insight into the company's indirect impacts.
In 2024, the largest contributors to China Merchants Bank's Scope 3 emissions were:a
In 2024, China Merchants Bank reported Scope 1 greenhouse gas (GHG) emissions of 53,300 tCO₂e and total revenues of USD 45,881 millions. This translates into an emissions intensity of 1.16 tCO₂e per millions USD.a
In 2024, China Merchants Bank reported a Scope 1 emissions intensity of 1.16 tCO₂e per millions USD. Compared to the peer group median of 0.32, this places the company above its industry benchmark, indicating it is less carbon-efficient than most competitors.a
In 2024, China Merchants Bank ranked 26 out of 25 companies in its industry peer group, based on Scope 1 emissions intensity (measured in tCO₂e per millions USD).a
This places China Merchants Bank among the least efficient performers, with one of the highest emissions intensities in its sector.a
In 2024, China Merchants Bank reported a total carbon footprint of 3,319,800 metric tons of CO₂ equivalent (tCO₂e) across Scope 1, Scope 2, and Scope 3 emissions. This represents a 2.44% increase compared to 2023, suggesting a rise in emissions across its operations or value chain.a
The largest contributor to China Merchants Bank's total carbon footprint was Scope 3 emissions, accounting for 84.36% of the company's total carbon footprint, followed by Scope 2 emissions at 14.03%.a