BancoEstado: Accelerating Decarbonization in the Financial Sector

Since 2020, ImplementaSur has advised BancoEstado in developing and executing its decarbonization strategy, helping position the bank as a climate leader within Chile’s financial system. Our work has included the measurement of operational and financed emissions, the definition of science-based targets, and the development of tools, capabilities, and products to translate institutional climate commitments into concrete action.

Servicio We supported BancoEstado in designing and implementing its climate strategy

Año 2020-2023

Approach and Project Implementation

Using globally recognized methodologies such as the GHG Protocol and PCAF, we calculated the bank’s operational and financed emissions. Based on that diagnostic, we supported the development of emissions reduction targets aligned with the Science Based Targets initiative (SBTi), along with a mitigation and offsetting plan for operational emissions.

We also evaluated the bank’s portfolio of green financial products and their contribution to climate goals, and facilitated BancoEstado’s integration into international initiatives such as the Net-Zero Banking Alliance and Race to Zero. Internal capacities were strengthened through workshops with the executive committee and various internal teams.

5+ tools developed for emissions measurement and management

Emissions calculated using PCAF and the GHG Protocol

Operational and financed targets aligned with SBTi

Workshops held with the executive committee and internal teams

Participation in Race to Zero and the Net-Zero Banking Alliance

Strategic evaluation of the green product portfolio

Strategic Vision

This project demonstrates our ability to turn institutional climate commitments into meaningful action from within the financial system. Supporting BancoEstado on its ambitious climate strategy, connecting science, business, and public policy, reflects a genuine commitment by key financial actors to advance their decarbonization efforts.

As a long-term technical partner, we provide methodology, sector-specific insight, and practical tools to strengthen internal climate governance, support decision-making, and anticipate global trends in the financial sector. This partnership also helps position public banking as a key player in the transition to a low-carbon economy.