Commonwealth Bank of Australia
Primary Climate Goal
Commonwealth Bank of Australia's target annual Scope 1 + 2 emissions for 2030 should be equal to 67 Kt = 42% * 116 Kt, according to the company's stated climate goal.
In order to achieve this goal, Commonwealth Bank of Australia would need to reduce its emissions at least by -4.1 Kt per annum over the period from 2022 to 2030:
-4.1 Kt = ( 67 Kt - 104 Kt ) / (2030 - 2021)
This translates into a -3.9% reduction in 2022.
The projected range shown on the chart is based on the Exerica's algorithm which takes account of both the company's stated goal and its past performance.
Commonwealth Bank of Australia aims to reduce Scope 1 + 2 by 42% by 2030 from a base year 2020
Science Based Targets initiative In October 2021 SBTi developed and launched world's first net zero standard, providing framework and tools for companies to set science-based net zero targets and limit global temperature rise above pre-industrial levels to 1.5 °C.
In October 2021 SBTi developed and launched world's first net zero standard, providing framework and tools for companies to set science-based net zero targets and limit global temperature rise above pre-industrial levels to 1.5 °C.
GHG emissions and Carbon intensity
Scope 1 + 2 GHG emissions (in tons of CO2e) divided by the company's Revenues (in USDm) for the same period
Commonwealth Bank of Australia reported Total CO2e Emissions - Location-Based Scope 1 + Scope 2 for the twelve months ending 30 June 2021 at 104 Kt (-12 /-10.1% y-o-y). Also positively, carbon intensity dropped to 6.3 t (-1.4 /-18.2% y-o-y).
Commonwealth Bank of Australia's Scope 3 emissions decreased to 48 Kt (
The company is committed to reducing Scope 1 + 2 by 42% by 2030 from a base year 2020, which translates into the estimated reduction of -4.1 Kt per annum over the period of FY2022 - FY2030. This target, however, has not been recognised as science-based (and as aligned with Paris Agreement) by the SBTi.