Amalgamated Financial

Amalgamated Financial's reported carbon emissions

Amalgamated Financial, a US-based entity operating in financial intermediation services (excluding insurance and pension funding), has outlined significant carbon emission reduction targets. For the reporting year 2024, the company reported total emissions of approximately 6.7 million kg CO2e. This comprised Scope 1 emissions of about 81,000 kg CO2e and Scope 2 emissions of approximately 801,000 kg CO2e (location-based). Scope 3 emissions were substantial, totalling around 5.87 million kg CO2e, with purchased goods and services being the largest contributor at about 4.92 million kg CO2e. In 2023, total emissions were approximately 6.22 million kg CO2e, with Scope 1 emissions at about 72,000 kg CO2e and Scope 2 at approximately 678,000 kg CO2e (market-based and location-based combined). Scope 3 emissions for this year were about 5.54 million kg CO2e. For 2022, total emissions were approximately 8.32 million kg CO2e, including Scope 1 emissions of around 86,900 kg CO2e and Scope 2 emissions of about 626,000 kg CO2e. Scope 3 emissions were about 7.74 million kg CO2e. In 2021, total emissions were approximately 407,000 kg CO2e, with Scope 1 at about 35,500 kg CO2e and Scope 2 at approximately 40,300 kg CO2e (market-based). Scope 3 emissions were around 371,500 kg CO2e. Amalgamated Financial has committed to a near-term target of achieving an overall 49% reduction in total direct and indirect emissions (Scope 1, 2, and 3) by 2030, using a 2020 baseline. Furthermore, the company aims for absolute zero emissions in its direct operations (Scope 1 and Scope 2) by 2030.