In 2024, Grupo Financiero Galicia 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).
Grupo Financiero Galicia has also provided a category-level breakdown for 5 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 | 2,940.44a | 3,331.89a | 2,964.7b | |
Total Scope 2 | ||||
Market-Based | 6,835.63a | N/A | N/A | |
Location-Based | 9,447a | N/A | N/A | |
Unspecified Calculation Method | N/A | 12,808.73a | 13,448.68b | |
Total Scope 3 | 9,658.77a | 3,686,382.7a | 3,937,880.2b | |
Total Scope 1 Revenue Intensity (tCO2e/$M) | 0.4028a | 0.3669a | 0.2441b |
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In 2024, the total operational greenhouse gas (GHG) emissions of Grupo Financiero Galicia amounted to 12,387.44 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 Grupo Financiero Galicia decreased by 23.25%, showing that the company has made progress in taking action to reduce the climate impact of its operations.a
In 2024, the total Scope 1 emissions of Grupo Financiero Galicia were 2,940.44 metric tons of CO₂ equivalent (tCO₂e).a
Since 2022, Grupo Financiero Galicia's Scope 1 emissions have remained relatively, stable, indicating that Grupo Financiero Galicia's emissions have plateaued with no significant change in its operational footprint.ab
Compared to the previous year (2023), Grupo Financiero Galicia's Scope 1 emissions decreased by 11.75%, highlighting the company's efforts to lower direct emissions from assets it owns or controls.a
In 2024, Grupo Financiero Galicia reported Scope 2 greenhouse gas (GHG) emissions of 6,835.63 tCO₂e using the market-based method and 9,447 tCO₂e using the location-based method.a
In 2024, Grupo Financiero Galicia reported its Scope 2 emissions using the market-based method and using the location-based method.a
In 2024, Grupo Financiero Galicia reported 9,658.77 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 Grupo Financiero Galicia includes a breakdown across 4 of the 15 Scope 3 categories defined by the GHG Protocol, down from 5 in 2023, indicating a decline in reporting granularity and reduced insight into the company's full value chain emissions.a
In 2024, Grupo Financiero Galicia reported total Scope 3 emissions of 9,658.77 metric tons of CO₂ equivalent (tCO₂e).a
Approximately 100% of these emissions originated from upstream activities such as purchased goods and capital goods, while 0% came from downstream activities like product use, distribution, and end-of-life treatment.a
Since 2022, Grupo Financiero Galicia's Scope 3 emissions have decreased by 99.75%, reflecting a declining long-term trend in Scope 3 emissions over time.ab
Compared to the previous year (2023), Grupo Financiero Galicia's Scope 3 emissions decreased by 99.74%, highlighting the company's efforts to lower indirect emissions from its value chain.a
In 2024, Grupo Financiero Galicia reported emissions for 4 out of the 15 Scope 3 categories defined by the GHG Protocol.a
The limited disclosure restricts visibility into specific emission sources across the company's value chain.
In 2024, the largest contributors to Grupo Financiero Galicia's Scope 3 emissions were:a
In 2024, Grupo Financiero Galicia reported Scope 1 greenhouse gas (GHG) emissions of 2,940.44 tCO₂e and total revenues of USD 7,300 millions. This translates into an emissions intensity of 0.4 tCO₂e per millions USD.a
In 2024, Grupo Financiero Galicia reported a Scope 1 emissions intensity of 0.4 tCO₂e per millions USD. Compared to the peer group median of 0.84, this places the company below its industry benchmark, indicating it is more carbon-efficient than most competitors.a
In 2024, Grupo Financiero Galicia ranked 5 out of 23 companies in its industry peer group, based on Scope 1 emissions intensity (measured in tCO₂e per millions USD).a
This places Grupo Financiero Galicia among the top performers, with one of the lowest emissions intensities relative to peers.a
In 2024, Grupo Financiero Galicia reported a total carbon footprint of 22,046.21 metric tons of CO₂ equivalent (tCO₂e) across Scope 1, Scope 2, and Scope 3 emissions. This represents a 99.4% decrease compared to 2023, indicating progress in reducing its overall greenhouse gas output.a
The largest contributor to Grupo Financiero Galicia's total carbon footprint was Scope 3 emissions, accounting for 43.81% of the company's total carbon footprint, followed by Scope 2 emissions at 42.85%.a