[email protected]   📞 +1 (855) 661-4441(US)   📞 +44 1720 412 167(UK)   📞 +91 2269738890(APAC)

More Number of Chinese Banks Contributing Towards Carbon Dioxide Emissions

By Shubhendra Anand , 05 January, 2024

The carbon dioxide emissions from different sources in the environment are contributing to climate change, extreme weather, and other disadvantages. Carbon dioxide emissions worldwide from fossil fuels are reported to be the highest in 2023. The banks globally producing the carbon dioxide emissions are more in numbers in China for 2023.

The data provided by a survey shows that China tops the list of countries emitting carbon dioxide, with four banks from the top in 2023. The survey reports for 2023 show that Agricultural Bank of China Limited is reported to generate over two million tonnes of carbon dioxide in 2022. The Agricultural Bank of China Limited tops the list of banks recorded for emitting more carbon dioxide, and two other Chinese banks follow it in the second and third ranks, the Industrial Commercial Bank of China Limited and the China Construction Bank Corporation, respectively. Six Chinese banks are on the list of banks worldwide producing carbon dioxide emissions, as reported by the survey in 2023. The United States JP Morgan stands out as producing around 961,000 tonnes of carbon dioxide. JP Morgan is producing more carbon emissions among the list of banks reported worldwide after excluding Chinese banks in 2023. The banks considered for the study were measured by their total assets. 
 
The Bank of America said it produced approximately 773,000 tonnes of carbon dioxide. The surveys show that most greenhouse gas emissions are from indirect emissions, including business travel. JPMorgan, Bank of America, and France's BNP Paribas reported such indirect carbon dioxide emissions with the highest figures.
 
According to another survey, China produces around 31 percent of the carbon dioxide emissions of global fossil fuels in 2023. The country simultaneously holds the record for a more significant number of banks in the list of carbon dioxide-emitting banks globally for 2023. However, researchers cite that China's greenhouse emissions can go downward due to the increasing number of renewable energy installations in the county in 2023. Increased carbon emissions from the big banks worldwide are hurdles in transitioning to clean energy. Therefore, it is necessary to reduce carbon emissions to achieve net zero by 2050 as per the target.

                                    Rising Renewables

BANK-CO2-EMISSION.jpg

Latest News

Indian-Fermented-Drinks-Market-in-2025.jpg
Health Trends and Innovations are Set to Drive the Indian Fermented Drinks Market in 2025

The market for fermented beverages in urban areas of India is expected to grow tremendously by the end of 2025. This increase is attributed to the growing interest in health and wellness, shifting towards more functional drinks, and fermented…

Read More

New-Tax-Credit-Boosts-U.S.-Wind-Energy-Projects-in-2025.jpg
Policy Pulse New Tax Credit Boosts US Wind Energy Projects in 2025

In 2025, the United States (U.S.) Energy and Power (EnP) market is seeing renewed momentum as a new federal tax credit for wind energy projects takes effect under the Inflation Reduction Act (IRA) expansion. The revised Production Tax Credit (PTC)…

Read More

s-Impact-on-Product-Transparency.jpg
Inside 2025’s Clean Label Surge: Gen Z’s Impact on Product Transparency

The year 2025 in the clean label market is undergoing a major shift spurred by ever-increasing Gen Z clean-label product demand. This generation is known for focusing on health, sustainability, and transparency of the ingredients, and it is a…

Read More

Probiotic-Power-EU-Opens-Doors-for-Innovation-in-Functional-Nutrition-in-2025.jpg
Probiotic Power EU Opens Doors for Innovation in Functional Nutrition in 2025

In 2025, a landmark change occurred in the European Union’s probiotics regulatory policy that has implications for the functional food market. The European Food Safety Authority (EFSA) has allowed the use of the term “probiotic” on food products with…

Read More

Plant-Based-Alternatives-in-2025.jpg
Surge in Plant-Based Alternatives Innovative APAC Innovations and Consumer Interest Set to Hit Shelves in 2025

The Plant-Based Surge: New Meat Alternatives Hitting APAC Shelves Market 2025 is benefitting from an innovation cycle, a change in diet preferences, and sustainability needs. There is an emerging focus from start-ups, universities, and global food…

Read More

Author Pic
Shubhendra Anand

Head Research