Amalgamated Financial
Amalgamated Financial, often referred to as Amalgamated Bank, is a prominent financial institution headquartered in the United States, with significant operations across major urban centres. Founded in 1923, the bank has established itself within the banking and financial services industry, focusing on socially responsible banking solutions. Amalgamated Financial offers a range of core products and services, including commercial banking, personal banking, and investment services, distinguished by its commitment to ethical practices and community engagement. The bank's unique approach to finance, prioritising sustainability and social impact, has positioned it as a leader in the sector. With a strong market presence, Amalgamated Financial has achieved notable milestones, including recognition for its dedication to progressive banking. Its innovative solutions and customer-centric philosophy continue to set it apart in a competitive landscape.
DitchCarbon Score
How does Amalgamated Financial'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 Financial's score of 35 is higher than 86% of the industry. This can give you a sense of how well the company is doing compared to its peers.
Amalgamated Financial's reported carbon emissions
In 2022, Amalgamated Financial reported total carbon emissions of approximately 7,739,600 kg CO2e. This figure includes 86,900 kg CO2e from Scope 1 emissions, 590,800 kg CO2e from Scope 2 emissions, and about 7,073,900 kg CO2e from Scope 3 emissions. Notably, the Scope 3 emissions encompass significant contributions from business travel (217,000 kg CO2e), employee commuting (47,900 kg CO2e), and purchased goods and services (6,501,600 kg CO2e). The bank has set near-term targets aligned with the Science Based Targets initiative (SBTi), aiming for reductions consistent with limiting global warming to 1.5°C. These targets cover 56% of its total investment and lending activities as of 2020, focusing on emissions from company operations (Scopes 1 and 2). However, Amalgamated Financial has not committed to a net-zero target as of now. In previous years, emissions data shows a trend of fluctuating emissions, with total emissions recorded at approximately 89,890 kg CO2e in 2020 and 37,150 kg CO2e in 2021. The bank's commitment to reducing its carbon footprint reflects its recognition of the financial sector's role in addressing climate change.
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| 2019 | 2020 | 2021 | 2022 | |
|---|---|---|---|---|
| Scope 1 | 42,700 | 00,000 | 00,000 | 00,000 |
| Scope 2 | 87,900 | 00,000 | 00,000 | 00,000 |
| Scope 3 | 768,400 | 000,000 | 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 Financial is committed to some reduction initiatives 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.
