SoFi
SoFi, officially known as Social Finance, Inc., is a leading financial technology company headquartered in the United States. Founded in 2011, SoFi has rapidly established itself in the fintech industry, primarily focusing on personal finance, student and personal loans, mortgage refinancing, and investment services. With a commitment to empowering individuals to achieve financial independence, SoFi offers unique products such as its SoFi Invest platform and SoFi Money cash management account. Operating across major regions in the US, SoFi has achieved significant milestones, including its public listing in 2021 through a merger with a special purpose acquisition company (SPAC). Renowned for its user-friendly digital experience and comprehensive financial solutions, SoFi has positioned itself as a trusted partner for millions seeking to manage their finances effectively.
DitchCarbon Score
How does SoFi'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
SoFi's score of 55 is higher than 76% of the industry. This can give you a sense of how well the company is doing compared to its peers.
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SoFi's reported carbon emissions
In 2024, SoFi reported total carbon emissions of approximately 5,016,400 kg CO2e, with emissions distributed across various scopes: 293,200 kg CO2e from Scope 1, 1,434,400 kg CO2e from Scope 2 (market-based), and 5,016,400 kg CO2e from Scope 3. The Scope 3 emissions included significant contributions from business travel (2,311,100 kg CO2e) and employee commuting (977,600 kg CO2e). The total emissions from Scope 1 and 2 combined were about 1,727,600 kg CO2e. In 2023, SoFi's emissions were slightly lower, totalling approximately 4,387,000 kg CO2e, with Scope 1 emissions at 328,300 kg CO2e and Scope 2 emissions at 1,730,300 kg CO2e (market-based). The Scope 3 emissions for that year were also significant, with business travel accounting for 1,453,500 kg CO2e. SoFi has set ambitious near-term climate commitments, aiming for GHG reductions in both Scope 1 and Scope 2 emissions as part of their journey towards net zero. These initiatives are set to take place from 2023 to 2025, although specific reduction percentages have not been disclosed. The emissions data is sourced directly from SoFi Technologies, Inc., with no cascading from a parent or related organisation. SoFi's commitment to reducing its carbon footprint aligns with industry standards and reflects a growing trend among financial services firms to address climate change proactively.
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| 2022 | 2023 | 2024 | |
|---|---|---|---|
| Scope 1 | 352,500 | 000,000 | 000,000 |
| Scope 2 | 2,049,200 | 0,000,000 | 0,000,000 |
| Scope 3 | - | 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.
SoFi 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.
