Al Baraka Bank, officially known as Al Baraka Banking Group, is a prominent financial institution headquartered in Turkey (TR). Established in 1984, the bank has grown to become a key player in the Islamic banking sector, with a strong presence in various regions, including the Middle East, North Africa, and Southeast Asia. Specialising in Sharia-compliant financial services, Al Baraka Bank offers a diverse range of products, including retail banking, corporate financing, and investment services. Its unique approach to ethical banking sets it apart in the industry, catering to clients seeking financial solutions aligned with Islamic principles. With a commitment to innovation and customer satisfaction, Al Baraka Bank has achieved significant milestones, solidifying its market position as a trusted provider of Islamic banking services.
How does Al Baraka Bank'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.
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.
Al Baraka Bank's score of 41 is higher than 66% of the industry. This can give you a sense of how well the company is doing compared to its peers.
In 2023, Al Baraka Bank reported total carbon emissions of approximately 2,643,000 kg CO2e. This figure includes Scope 1 emissions of about 417,000 kg CO2e, Scope 2 emissions of approximately 1,039,000 kg CO2e, and Scope 3 emissions totalling around 1,187,000 kg CO2e. Notably, employee commuting accounted for about 888,000 kg CO2e within Scope 3 emissions. Comparatively, in 2022, the bank's total emissions were about 1,675,000 kg CO2e, with Scope 1 emissions at approximately 4,146,560 kg CO2e, Scope 2 emissions around 673,000 kg CO2e, and Scope 3 emissions of about 807,000 kg CO2e. This indicates a significant increase in emissions from 2022 to 2023. Al Baraka Bank has not disclosed specific reduction targets or initiatives related to carbon emissions, nor have they committed to Science Based Targets Initiative (SBTi) reduction targets. The absence of documented reduction strategies suggests a need for enhanced climate commitments in line with industry standards.
Access structured emissions data, company-specific emission factors, and source documents
2019 | 2020 | 2021 | 2022 | 2023 | |
---|---|---|---|---|---|
Scope 1 | 3,844,990 | 0,000,000 | 0,000,000 | 0,000,000 | 000,000 |
Scope 2 | 7,964,880 | 0,000,000 | 0,000,000 | 000,000 | 0,000,000 |
Scope 3 | - | - | - | 000,000 | 0,000,000 |
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.
Al Baraka Bank 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.