Novo Banco
Novo Banco, officially known as Novo Banco, S.A., is a prominent financial institution headquartered in Lisbon, Portugal (PT). Established in 2014, the bank emerged from the resolution of Banco Espírito Santo, marking a significant milestone in the Portuguese banking sector. Novo Banco operates primarily in Portugal, with a focus on retail banking, corporate banking, and investment services. The bank offers a diverse range of core products, including personal and business accounts, loans, and investment solutions, distinguished by their customer-centric approach and innovative digital services. Novo Banco has positioned itself as a key player in the market, recognised for its commitment to financial stability and customer satisfaction. With a strong emphasis on sustainability and community engagement, Novo Banco continues to evolve, adapting to the dynamic needs of its clients while maintaining a robust presence in the financial landscape.
DitchCarbon Score
How does Novo Banco'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
Novo Banco's score of 50 is higher than 73% of the industry. This can give you a sense of how well the company is doing compared to its peers.
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Novo Banco's reported carbon emissions
In 2023, Novo Banco reported total carbon emissions of approximately 9,500,000 kg CO2e, comprising 3,675,300 kg CO2e from Scope 1, 1,146,300 kg CO2e from Scope 2, and 4,234,400 kg CO2e from Scope 3 emissions. Notably, the Scope 3 emissions included 520,800 kg CO2e from business travel and 91,500 kg CO2e from purchased goods and services. Comparatively, in 2022, the bank's total emissions were about 10,000,000 kg CO2e, with Scope 1 emissions at 4,158,100 kg CO2e, Scope 2 at 811,300 kg CO2e, and Scope 3 at 6,103,600 kg CO2e. This indicates a reduction in total emissions of approximately 500,000 kg CO2e from 2022 to 2023. The emissions data is cascaded from Novo Banco, S.A., reflecting the bank's commitment to transparency in its environmental impact. However, there are currently no specific reduction targets or climate pledges outlined in their sustainability initiatives. Overall, Novo Banco's emissions profile highlights the importance of addressing both direct and indirect emissions as part of their climate strategy, aligning with industry standards for sustainability reporting.
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| 2014 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | |
|---|---|---|---|---|---|---|---|---|
| Scope 1 | 2,797,000 | 0,000,000 | 0,000,000 | 0,000,000 | 0,000,000 | 0,000,000 | 0,000,000 | 0,000,000 |
| Scope 2 | 2,961,000 | 0,000,000 | 0,000,000 | 0,000,000 | 0,000,000 | 0,000,000 | 000,000 | 0,000,000 |
| Scope 3 | 3,990,000 | 0,000,000 | 0,000,000 | 0,000,000 | 0,000,000 | 0,000,000 | 0,000,000 | 0,000,000 |
Industry emissions intensity
Location emissions intensity
Reduction initiatives & disclosure networks
Companies disclose and commit to reducing emissions to show they are serious about reducing emissions impact over time. They can also help a company track its progress over time.
Novo Banco is participating in some of the initiatives that we track. This may change over time as the company engages with new initiatives or updates its commitments. DitchCarbon will update this information as it becomes available.
