Amalgamated Bank
Amalgamated Bank, a prominent financial institution headquartered in the United States, has been serving clients since its founding in 1923. With a strong presence in major operational regions across the country, the bank is renowned for its commitment to social responsibility and progressive banking practices. Specialising in commercial banking, Amalgamated Bank offers a range of core products and services, including personal and business banking, loans, and investment solutions. What sets them apart is their dedication to ethical finance, focusing on sustainable and community-oriented initiatives. Over the years, Amalgamated Bank has achieved notable milestones, positioning itself as a leader in the industry. Its emphasis on transparency and customer service has garnered a loyal client base, making it a trusted choice for those seeking a socially conscious banking partner.
DitchCarbon Score
How does Amalgamated 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.
Industry Average
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.
Industry Benchmark
Amalgamated Bank's score of 46 is higher than 94% of the industry. This can give you a sense of how well the company is doing compared to its peers.
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Amalgamated Bank's reported carbon emissions
In 2023, Amalgamated Bank reported total carbon emissions of approximately 5,541,000 kg CO2e, with emissions distributed across various scopes. The breakdown includes 72,000 kg CO2e from Scope 1, 675,000 kg CO2e from Scope 2 (with a market-based total of 3,000 kg CO2e), and a significant 5,541,000 kg CO2e from Scope 3 emissions. Notably, the Scope 3 emissions are primarily driven by purchased goods and services, accounting for about 4,884,500 kg CO2e. Comparatively, in 2022, the bank's total emissions were approximately 7,739,600 kg CO2e, indicating a reduction in emissions over the year. The Scope 1 emissions decreased from 86,900 kg CO2e in 2022 to 72,000 kg CO2e in 2023, while Scope 2 emissions also saw a decline from 590,800 kg CO2e to 675,000 kg CO2e. However, Scope 3 emissions decreased from 7,739,600 kg CO2e to 5,541,000 kg CO2e, reflecting a significant effort to reduce indirect emissions. Amalgamated Bank has not publicly disclosed specific reduction targets or initiatives under the Science Based Targets initiative (SBTi) or other climate pledges. Nonetheless, the bank's commitment to tracking and reporting its emissions demonstrates a proactive approach to addressing climate change. The data indicates a trend towards reducing carbon footprints, particularly in Scope 1 and Scope 3 emissions, aligning with broader industry efforts to mitigate climate impact.
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| 2018 | 2019 | 2021 | 2022 | 2023 | |
|---|---|---|---|---|---|
| Scope 1 | 2,003,700 | - | 00,000 | 00,000 | 00,000 |
| Scope 2 | 130,800 | 00,000 | 00,000 | 00,000 | 0,000 |
| Scope 3 | 1,215,200 | 0,000,000 | 000,000 | 0,000,000 | 0,000,000 |
Industry emissions intensity
Location emissions intensity
Reduction initiatives & disclosure networks
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.
Amalgamated 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.
