BancoEstado: Decarbonization Plan
Client:
Banco del Estado de Chile
Case:
Establish baseline GHG emissions of the Bank and its subsidiaries (including operational and financed emissions), action plan for operational emissions management and definition of science-based emissions reduction target for financed emissions.
Deliverables:
GHG inventory for years 2019 and 2020, including Scope 3 indirect emissions associated with Bank-provided financing and operational (Scope 1, 2 and 3 other than financed emissions).
Action plan for the reduction of operational emissions, consistent with the goal of carbon neutrality in operations by 2030.
Establishment of a science-based emissions reduction target (Science-Based Target) for financed emissions of the Bank and its subsidiaries, consistent with the Bank’s commitment to be net zero emissions by 2050 with the Net-Zero Banking Alliance.
Analysis of green products that could contribute towards the decarbonization goals of the investment portfolio and lending of the Bank and its subsidiaries.
Challenge
Establish baseline GHG emissions of the Bank and its subsidiaries (including operational and financed emissions), action plan for operational emissions management and definition of science-based emissions reduction target for financed emissions.
Potential impact
By becoming aware of its carbon footprint, the Bank is able to detect the points in its value chain that are most emissions-intensive and, therefore, most exposed to the risks involved in the transition to a lower carbon economy. Based on this relevant input, the Bank established an action plan to mitigate its operational emissions with which it can link all relevant actors in its value chain. On the other hand, it sets science-based reduction targets for its financed emissions. The Bank’s actions and efforts to reduce emissions from its portfolio of loans and investments will enable the decarbonization of the Chilean economy.
