In 2024, Oversea-Chinese Banking 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).
Oversea-Chinese Banking has also provided a category-level breakdown for 2 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 | 132a | 142a | 131a | |
Total Scope 2 | ||||
Market-Based | 35,373a | 23,501a | 63,811a | |
Location-Based | 68,391a | 68,334a | 63,811a | |
Total Scope 3 | 3,475a | 11,203,849a | 12,101,517a | |
Total Scope 1 Revenue Intensity (tCO2e/$M) | 0.0125a | 0.0139a | 0.0157a |
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In 2024, the total operational greenhouse gas (GHG) emissions of Oversea-Chinese Banking amounted to 68,523 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 Oversea-Chinese Banking increased by 0.07%, suggesting that the company faced challenges in reducing its emissions from its core operations.a
In 2024, the total Scope 1 emissions of Oversea-Chinese Banking were 132 metric tons of CO₂ equivalent (tCO₂e).a
Since 2021, Oversea-Chinese Banking's Scope 1 emissions have decreased by 44.3%, reflecting a declining long-term trend in Scope 1 emissions over time.ab
Compared to the previous year (2023), Oversea-Chinese Banking's Scope 1 emissions decreased by 7.04%, highlighting the company's efforts to lower direct emissions from assets it owns or controls.a
In 2024, Oversea-Chinese Banking reported Scope 2 greenhouse gas (GHG) emissions of 35,373 tCO₂e using the market-based method and 68,391 tCO₂e using the location-based method.a
Since 2021, Oversea-Chinese Banking's Scope 2 greenhouse gas (GHG) emissions (Location-Based) have remained relatively stable, indicating that Oversea-Chinese Banking's emissions have plateaued with no significant change in its energy consumption footprint.ab
Compared to the previous year (2023), Oversea-Chinese Banking's Scope 2 emissions (Location-Based) have remained relatively stable, indicating that Oversea-Chinese Banking's emissions have plateaued with no significant change in its energy consumption footprint.a
In 2024, Oversea-Chinese Banking reported its Scope 2 emissions using the market-based method and using the location-based method.a
In 2024, Oversea-Chinese Banking reported 3,475 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 Oversea-Chinese Banking includes a breakdown across 1 of the 15 Scope 3 categories defined by the GHG Protocol, down from 2 in 2023, indicating a decline in reporting granularity and reduced insight into the company's full value chain emissions.a
In 2024, Oversea-Chinese Banking reported total Scope 3 emissions of 3,475 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 2021, Oversea-Chinese Banking's Scope 3 emissions have decreased by 99.98%, reflecting a declining long-term trend in Scope 3 emissions over time.a
Compared to the previous year (2023), Oversea-Chinese Banking's Scope 3 emissions decreased by 99.97%, highlighting the company's efforts to lower indirect emissions from its value chain.a
In 2024, Oversea-Chinese Banking reported emissions for 1 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 Oversea-Chinese Banking's Scope 3 emissions were:a
In 2024, Oversea-Chinese Banking reported Scope 1 greenhouse gas (GHG) emissions of 132 tCO₂e and total revenues of USD 10,560 millions. This translates into an emissions intensity of 0.01 tCO₂e per millions USD.a
In 2024, Oversea-Chinese Banking reported a Scope 1 emissions intensity of 0.01 tCO₂e per millions USD. Compared to the peer group median of 0.49, this places the company below its industry benchmark, indicating it is more carbon-efficient than most competitors.a
In 2024, Oversea-Chinese Banking ranked 4 out of 25 companies in its industry peer group, based on Scope 1 emissions intensity (measured in tCO₂e per millions USD).a
This places Oversea-Chinese Banking among the top performers, with one of the lowest emissions intensities relative to peers.a
In 2024, Oversea-Chinese Banking reported a total carbon footprint of 71,998 metric tons of CO₂ equivalent (tCO₂e) across Scope 1, Scope 2, and Scope 3 emissions. This represents a 99.36% decrease compared to 2023, indicating progress in reducing its overall greenhouse gas output.a
The largest contributor to Oversea-Chinese Banking's total carbon footprint was Scope 2 emissions, accounting for 94.99% of the company's total carbon footprint, followed by Scope 3 emissions at 4.83%.a