Teachers Mutual Bank Limited recognised by Financial Times as one of the top tier Climate Leaders in Asia-Pacific 2023
- The top 275 companies with the best overall score are included in the list Climate Leaders Asia-Pacific 2023.
- The list identifies outstanding companies that are successfully reducing their core greenhouse gas emissions relative to their revenue and achieving the greatest reduction in core emissions intensity from 2016 - 2021.
For the second year, the Financial Times and Statista has compiled a list of Climate Leaders Asia-Pacific.
Methodology of “Climate Leaders Asia-Pacific 2023“
The Climate Leaders Asia Pacific list comprises companies across the Asia-Pacific region that achieved the greatest reduction in their core emissions intensity between 2016 and 2021 – that is, their Scope 1 and 2 greenhouse gas emissions in relation to revenue – and made further climate -related commitments (such as collaboration with CDP1 and SBTi2 (Science Based Targets initiative), and transparency on Scope 3 emissions). A Compound Annual Reduction Rate (CARR) of more than 3% was mandatory.
To ensure that the data is comparable, only emissions reported following the emissions categories of the Greenhouse Gas Protocol (Scopes 1, 2 and 3) were considered. As there is a high degree of freedom for reporting Scope 3 emissions, these were not considered when calculating the reduction in emissions intensity. However, transparency on Scope 3 emissions was an additional criterion.
Companies whose broader GHG-related record or broader environmental record e.g. oil exploration, non-GHG pollution or deforestation - is sufficiently disputed to undermine any claim to be a “climate leader” were excluded from the list.
To be considered for Climate Leaders Asia-Pacific 2023, a company had to meet the following criteria:
- The company is headquartered in one of 14 countries in the Asia-Pacific region
- The company had revenues of at least USD 50 million in 2021
- The company reports emissions data independently
- The company published Scope 1 and Scope 2 emissions for 2016 and 2021
Statista scrutinized publicly available data on c. 2,000 companies in the Asia-Pacific region.
“Teachers Mutual Bank Limited clearly stood out, and as a result will be publicly recognised in the Financial Times as one of the Climate Leaders in Asia-Pacific. Global warming remains an overarching issue and one of the greatest challenges of our time. Your company’s continued dedication to reducing its greenhouse gas emissions intensity cannot be understated and should be recognised,” said Lawrence Ho, Statista Senior Business Development Consultant, Asia.
The results were published on May 25, on FT.com, with a Special Report with the ranking list on June 15.