Union Bank Of
Union Bank of India, a prominent player in the Indian banking sector, is headquartered in Mumbai, Maharashtra. Established in 1919, the bank has grown to become one of the largest public sector banks in India, serving millions of customers across the country and internationally. Union Bank operates primarily in the financial services industry, offering a comprehensive range of products including personal banking, corporate banking, and wealth management. Its unique blend of traditional banking services and innovative digital solutions sets it apart in a competitive market. With a strong emphasis on customer service and financial inclusion, Union Bank has achieved significant milestones, including its merger with Andhra Bank and Corporation Bank in 2020, enhancing its market position. The bank continues to be recognised for its commitment to sustainable banking practices and technological advancements.
DitchCarbon Score
How does Union Bank Of'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 Services Auxiliary to 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
Union Bank Of's score of 32 is higher than 54% of the industry. This can give you a sense of how well the company is doing compared to its peers.
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Union Bank Of's reported carbon emissions
In 2023, Union Bank of India reported significant carbon emissions, totalling approximately 274,042,000 kg CO2e for Scope 1 and about 241,884,000 kg CO2e for Scope 2. This reflects a commitment to transparency in their environmental impact, as they have disclosed emissions data for both scopes. The bank has set ambitious climate commitments, aiming for carbon neutrality by 2030 for both Scope 1 and Scope 2 emissions. Additionally, Union Bank of India has a long-term goal to achieve net-zero emissions across all scopes by 2070, aligning its operations with the United Nations Sustainable Development Goals (SDGs) and the Paris Climate Agreement. In comparison to 2022, when emissions were approximately 283,485,000 kg CO2e for Scope 1 and about 193,187,000 kg CO2e for Scope 2, the bank is actively working towards reducing its carbon footprint. These efforts are part of a broader strategy to enhance sustainability within its operations and financing portfolio. Union Bank of India's commitment to reducing its carbon emissions is a crucial step in addressing climate change and promoting sustainable practices within the banking sector.
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| 2022 | 2023 | |
|---|---|---|
| Scope 1 | 283,485,000 | 000,000,000 |
| Scope 2 | 193,187,000 | 000,000,000 |
| Scope 3 | - | - |
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.
Union Bank Of is not participating in any 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.
