Sumitomo Mitsui Banking
Sumitomo Mitsui Banking Corporation (SMBC), headquartered in Tokyo, Japan, is a prominent player in the global banking industry. Established in 2001, SMBC has rapidly expanded its operations across Asia, Europe, and the Americas, solidifying its position as a leading financial institution. The bank offers a diverse range of services, including corporate banking, investment banking, and asset management, distinguished by its commitment to customer-centric solutions and innovative financial products. SMBC's unique approach combines traditional banking expertise with cutting-edge technology, enabling it to meet the evolving needs of its clients. With a strong market presence and a reputation for reliability, Sumitomo Mitsui Banking Corporation has achieved significant milestones, including recognition for its robust risk management practices and sustainable finance initiatives. As a key player in the financial sector, SMBC continues to drive growth and innovation in banking.
DitchCarbon Score
How does Sumitomo Mitsui Banking'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
Sumitomo Mitsui Banking's score of 43 is higher than 67% of the industry. This can give you a sense of how well the company is doing compared to its peers.
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Sumitomo Mitsui Banking's reported carbon emissions
In 2023, Sumitomo Mitsui Banking Corporation (SMBC) reported total carbon emissions of approximately 239,000 kg CO2e for Scope 1, 4,400 kg CO2e for Scope 2, and 196,000 kg CO2e for Scope 3 emissions. This represents a reduction in Scope 1 emissions from 33,300 kg CO2e in 2022 and a decrease in Scope 2 emissions from 7,400 kg CO2e in the same year. However, Scope 3 emissions increased slightly from 205,000 kg CO2e in 2022. The emissions data is cascaded from the parent company, Sumitomo Mitsui Financial Group, Inc., and reflects the corporation's commitment to transparency in its environmental impact. Despite the lack of specific reduction targets or initiatives outlined in their climate commitments, SMBC is part of a broader industry movement towards sustainability and carbon neutrality. Overall, while SMBC has made progress in reducing its direct emissions, the increase in Scope 3 emissions highlights the ongoing challenges in managing indirect emissions associated with its operations. The bank continues to engage in industry-standard climate initiatives, although specific targets have not been disclosed.
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| 2021 | 2022 | 2023 | |
|---|---|---|---|
| Scope 1 | 40,800 | 00,000 | 00,000 |
| Scope 2 | 13,600 | 0,000 | 0,000 |
| Scope 3 | 205,000 | 000,000 | 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.
Sumitomo Mitsui Banking 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.
