The scope of carbon emission data disclosure continues to expand, and disclosure standards urgently need to be unified

According to the "Guidelines for Continuous Supervision of Listed Companies - Sustainable Development Report" released by the three major stock exchanges in Shanghai, Shenzhen, and North China in 2024, sample companies listed on the SSE 180, STAR Market 50, Shenzhen Stock Exchange 100, and ChiNext Index, as well as companies listed both domestically and internationally, are required to disclose their 2025 sustainable development reports.

Affected by the index adjustment, as of the end of April, the number of listed banks included in the mandatory disclosure scope in China has increased from 21 in the previous year to 25 this year, including 6 state-owned banks, 9 joint-stock banks, and 10 city commercial banks. The newly added banks are Huaxia Bank, Shanghai Bank, Nanjing Bank, and Hangzhou Bank.

As of now, all the aforementioned banks have released their 2024 social responsibility reports or sustainability reports.

According to the report released by the above-mentioned banks by Southern Financial reporters, based on the green credit data, the scale of green credit of the above-mentioned banks continues to expand but the growth rate generally slows down. The development of green finance in banks has entered a period of structural adjustment. In addition, the total carbon emissions growth rate of the above-mentioned banks in 2024 shows a downward trend.

From the perspective of disclosure, all 25 banks have disclosed their operational greenhouse gas emission data (Scope 1+Scope 2) this year, and some banks have also increased their statistical coverage compared to the previous year. In addition, 6 banks have added Scope 3 to their disclosure this year compared to the previous year.

Overall, the coverage of data disclosed by various banks is wider than the previous year, but there are still significant differences among banks in terms of disclosure statistics and dimensions, and disclosure standards urgently need to be further unified.

The scope of carbon emission data disclosure continues to expand

In terms of carbon emissions from their own operations, the 25 banks mentioned above have all disclosed their total greenhouse gas emissions data for 2024 (using both Scope 1 and Scope 2 statistical measures).