Direct emissions
117
tCO2e
Back to search resultsEmissions
Sustainability
Scope
REPORTED REPORTED ESTIMATED ESTIMATED ESTIMATED ESTIMATED ESTIMATED REPORTED ESTIMATED ESTIMATED ESTIMATED ESTIMATED ESTIMATED ESTIMATED ESTIMATED ESTIMATED ESTIMATED 
Read the full scoring methodologyOur white paper covers exactly how the Mycelium Score and Transparency Score are calculated, including the normalisation process and what earns a 10/10.Download the white paper (PDF)
Mycelium Score0.0 / 10Significant room to improveFTransparencyVery LowMinimal disclosure across key areas
Explore carbon emissions data for Hang Seng Bank. Mycelium helps you review reported emissions, disclosure status, Scope 1, Scope 2 and Scope 3 data, climate targets and sustainability information in one company profile.
This profile brings together available carbon emissions data for Hang Seng Bank, including reported figures, modelled estimates, disclosure documents and sustainability indicators, so you can review its emissions and compare its performance against similar companies. It is one entry in the Mycelium emissions database. Read how we source and check this data.
Emissions
Carbon emissions
Total yearly emissions across all scopes
15,220,597tCO2e(Location Based)(Mycelium adjusted)
- Reported by Hang Seng Bank
- 13,250 tCO₂e
- Estimated by Mycelium
- 15,207,348 tCO₂e
Hang Seng Bank reported less than 1% of the adjusted total. Mycelium estimated the remaining more than 99% for the categories it did not disclose.
Scope 1
tCO2e
117
Scope 2 (Location Based)
tCO2e
12,259
Scope 3 total
tCO2e
15,208,222
Figures from pages 28 and 70 of the source report
Scope 3 reported
- 1
- 2
- 3
- 4
- 5
- 6
- 7
- 8
- 9
- 10
- 11
- 12
- 13
- 14
- 15
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See the scope breakdownProvenance
Emissions
Factors
0.011kgCO2e / $
Supplier specific emission factors (kgCO2e / $)
Modelled
Reported
UpstreamScope 1, 2 + upstream Scope 3
0.011
0.002
Total+ all Scope 3
–
0.002
Per US dollar of revenue. Mycelium models the upstream factor only.
Which figure should I use?
Estimating your own supply-chain emissions from spend with this company? Use Upstream Modelled. The GHG Protocol defines purchased-goods emissions as cradle-to-gate, which means this company's own operations plus its upstream supply chain. Any of those emissions the company has not disclosed are filled with modelled estimates, so a transparent company is not unfairly penalised against one that simply has not reported.
Looking at what the company filed itself? Use the Reported column. Total Reported also includes downstream emissions, such as the lifetime use of the products this company sells, which the GHG Protocol attributes to the users of those products rather than to customers buying goods and services.
Reported counts only emissions the company has filed itself. A blank or low Reported cell does not mean those emissions do not exist, just that the company has not disclosed them. When Upstream Reported sits close to Upstream Modelled, that is a positive signal: the company has disclosed most of its upstream emissions.
Sustainability
Snapshot
Based on reported data, retrieved with AI
- Hang Seng Bank reported 13,250 tCO₂e in 2024.
- Scope 3 accounted for 7% of reported emissions.
- Reported across 1 of 15 GHG Protocol Scope 3 categories.
- Scope 2 reported under the location based methodology.
According to available emissions disclosures, Hang Seng Bank reported total yearly emissions of 13,250 tCO₂e in 2024. Scope 2 emissions accounted for 93% of the reported footprint, indicating purchased energy was the most significant contributor to its carbon footprint.
The company achieved a Mycelium Score of 0.0, placing it well below average for its sector for sustainability performance, and received a transparency score of 0.3, pointing to very little public detail on their key emissions.
Scope
breakdown
Scope 1 emissions
Direct emissions from sources the company owns or controls, such as fuel use, facilities and vehicles.
Scope 2 emissions
Indirect emissions from purchased energy, including electricity, heating and cooling.
Location based
12,259
tCO2eMarket based
–
tCO2eScope 3 emissions
Wider value chain emissions across the 15 GHG Protocol categories, from purchased goods and business travel to investments, where reported.
Cat 1
Purchased goods & services
22,310
tCO2eCat 2
Capital goods
9,519
tCO2eCat 3
Fuel & energy related activities
4,096
tCO2eCat 4
Upstream transportation & distribution
2,855
tCO2eCat 5
Waste generated in operations
172
tCO2eCat 6
Business travel
874
tCO2eCat 7
Employee commuting
4,040
tCO2eCat 8
Upstream leased assets
2,962
tCO2eCat 9
Downstream transportation & distribution
2,794
tCO2eCat 10
Processing of sold products
63,134
tCO2eCat 11
Use of sold products
4,058
tCO2eCat 12
End-of-life treatment of sold products
536
tCO2eCat 13
Downstream leased assets
7,382
tCO2eCat 14
Franchises
5,393
tCO2eCat 15
Investments
15,078,097
tCO2e14 values were derived via Mycelium's normalisation process rather than reported by the company. A cell marked “ESTIMATED” is a figure the company did not disclose, modelled by Mycelium.
Verification
Independent third parties involved in checking or preparing Hang Seng Bank's emissions data.
Independent assurance
Independently assured(reasonable assurance)by Hong Kong Quality Assurance Agencyfor 2024
Climate targets
Science Based Targets initiative
Near-term target
Commitment removed
Source: Science Based Targets initiative, Companies Taking Action.
Contact Info
Website
hangseng.comCountry
Hong Kong
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How scoring works
How the Mycelium Score is calculated
The Mycelium Score is out of 10. Up to 6.5 points reflect carbon intensity vs peers in the same NACE section (emissions normalised against revenue, log-scaled between the 5th and 95th percentile of each company's latest reporting year in that section; a section needs at least 5 companies to be benchmarked). The band above 6.5 is earned through verified data quality on a claimed profile: declaring every reporting category yourself (up to 2.0), preparation by a carbon accountant (2.0) and independently audited figures (2.0). The total is multiplied by the transparency score and capped at 10. A disclosure with an implausibly large figure (Scope 1 or 2 over 300 million tonnes, a Scope 3 figure over 2 billion tonnes or a total over 2.5 billion tonnes) is not scored until it has been checked.
A higher score means lower carbon intensity than sector peers, backed by data that's third-party verified, claimed by the company, and fully disclosed. Hang Seng Bank's score sits at the top of this page and in the score panel. Without a revenue figure to measure carbon intensity, or an industry classification to compare it within, a company has no score.
How the Transparency Score is calculated
The Transparency Score is the share of a company's estimated footprint that it reported itself, graded from A (very high) down to F (very low). Where a category is missing, Mycelium models what it would hold for a company of that size and industry and counts it as undisclosed, so an unreported category where the bulk of emissions sit hurts far more than a minor one. Unreported downstream categories (9 to 15) count at a quarter of their modelled size in this share; the carbon intensity behind the score still counts them in full. A Scope 3 total filed without a category breakdown earns very little credit for the part left unattributed, because it does not show which categories are inside it: a company can count business travel, leave purchased goods out entirely, and the total looks the same. Without a revenue figure the footprint cannot be modelled, so the company has no Transparency Score.
For Hang Seng Bank, the single biggest gap is Investments (Scope 3 Category 15). Mycelium estimates it accounts for around 99% of the company's estimated footprint, yet it hasn't been disclosed. Leaving a bucket this large unreported is what's holding the transparency score down.
In total, roughly 100% of Hang Seng Bank's estimated emissions sit in categories it hasn't reported. Disclosing these would be the fastest way to raise the transparency score.
Read the full scoring methodologyOur white paper covers exactly how the Mycelium Score and Transparency Score are calculated, including the normalisation process and what earns a 10/10.Download the white paper (PDF)Compare Hang Seng Bank with similar companies
Hang Seng Bank carbon emissions FAQs
What are Hang Seng Bank's carbon emissions?
In its 2024 reporting year, Hang Seng Bank disclosed total emissions of 13,250 tCO2e across all scopes. Including Mycelium estimates for undisclosed categories, the adjusted total is 15,220,597 tCO2e. Scope 2 accounted for the largest share of the reported total, around 93%.
Does Hang Seng Bank report Scope 1, Scope 2 and Scope 3 emissions?
For 2024, Hang Seng Bank's available disclosure covers Scope 1 (117 tCO2e), Scope 2 (12,259 tCO2e) and Scope 3 across 1 of the 15 GHG Protocol categories. Figures not reported by the company are shown as modelled estimates and labelled as such.
How transparent is Hang Seng Bank's emissions reporting?
Hang Seng Bank has a Mycelium transparency score of 0.3 out of 100. The score is the share of the company's estimated footprint that it reported itself, so an undisclosed category where most of its emissions sit weighs far more than a minor one.
Is Hang Seng Bank sustainable?
Mycelium measures sustainability through carbon emissions data rather than giving a yes or no verdict. Hang Seng Bank has a Mycelium Score of 0.0 out of 10, which reflects its emissions intensity against sector peers together with how transparent and well-verified its reporting is. The emissions figures, disclosure documents and climate targets on this page give the fuller picture.
Is Hang Seng Bank environmentally friendly?
Carbon emissions are one measurable part of environmental impact, and the part Mycelium tracks. Hang Seng Bank disclosed 13,250 tCO2e for 2024, and its Mycelium Score of 0.0 out of 10 shows how that performance compares with similar companies in its sector.
Learn more about our methodology and where this data comes from.