SICO publishes its Iinaugural Greenhouse Gas Emissions report

SICO publishes its Iinaugural Greenhouse Gas Emissions report

SICO BSC (c), a leading regional asset manager, broker, and investment bank (licensed as a wholesale bank by the CBB), has published its first greenhouse gas (GHG) emissions report, quantifying how much carbon it releases during the course of the daily activities and operations of SICO and its subsidiaries.

SICO is one of the first financial institutions in Bahrain to publish a GHG report, taking a step towards becoming more conscious of its carbon footprint in order to determine the areas that are most pressing and require more immediate attention. The report creates a foundation for effective climate action by tying prior efforts together, clearly identifying areas of SICO’s climate impact, and showing critical intervention points to substantially reduce GHG emissions in the coming years. The report additionally outlines actionable initiatives to minimize SICO’s negative impact on the environment focused on three key areas: conserving, recycling, and offsetting.

The reporting period is from January 1 to December 31, 2021, and it consists of GHG emissions, including direct emissions from controlled equipment and assets (scope 1), emissions from purchased electricity (scope 2), and selected categories that constitute indirect emissions that occur in the value chain of the bank, including business travel, employee commuting,