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Amalgamated Financial
Financial IntermediationUnited StatesNASDAQ: AMAL
Last verified 3 days agoamalgamatedbank.com
Amalgamated Financial, often referred to as Amalgamated Bank, is a prominent player in the financial intermediation services sector, excluding insurance and pension funding. Headquartered in the United States, the bank has established a significant presence in major operational regions across the country. Founded in 1923, Amalgamated has a rich history marked by its commitment to social responsibility and community-focused banking.
The bank offers a range of core products and services, including commercial banking, personal banking, and investment services, distinguished by their emphasis on ethical practices and support for progressive causes. Amalgamated Financial has garnered recognition for its market position as a leader in socially responsible banking, making it a preferred choice for clients seeking both financial growth and social impact.
57
DitchCarbon score
+20 vs industry average
Amalgamated Financial’s score of 57 is higher than 71% of the industry. This can give you a sense of how well the company is doing compared to its peers.
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Industry Intensity
Very Low
Financial Intermediation is among the least carbon-intensive industries
Industry performance
0.096
20182025
The Financial Intermediation industry has reduced its overall emissions by 33% since 2018
Emissions trajectory 2020 – 2027
20202021202220232024202520262027
Reported emissions
Scope 1
•••kg CO₂e
Scope 2
•••kg CO₂e
Scope 3
•••kg CO₂e
Total reported
•••kg CO₂e
Scope 3 accounts for ••• of total emissions.
Amalgamated Financial's reported carbon emissions
Amalgamated Financial's Climate Commitments and Emissions Data
Amalgamated Financial, a US-based company in the Financial intermediation services sector, is committed to reducing its carbon footprint. The company has set a near-term net-zero target to achieve an overall 49% reduction in its total direct and indirect emissions (Scope 1, 2, and 3) by 2030, against a 2020 baseline. This includes reaching absolute zero emissions in its direct operations (Scope 1 and Scope 2) by 2030.
In 2024, Amalgamated Financial's total calculated emissions were approximately 6.75 million kg CO2e. This comprised approximately 81,000 kg CO2e from Scope 1 emissions and 5.87 million kg CO2e from Scope 3 emissions. The company reported zero Scope 2 emissions in 2024.
Looking at previous years:
- In 2023, the total calculated emissions were approximately 6.29 million kg CO2e, with around 72,000 kg CO2e from Scope 1, 675,000 kg CO2e from Scope 2 (location-based), and 5.54 million kg CO2e from Scope 3.
- In 2022, total calculated emissions were approximately 8.35 million kg CO2e, including about 86,900 kg CO2e from Scope 1, 590,800 kg CO2e from Scope 2 (location-based), and 7.74 million kg CO2e from Scope 3.
- In 2021, the company's total calculated emissions were approximately 458,800 kg CO2e, with about 35,500 kg CO2e from Scope 1, 40,300 kg CO2e from Scope 2 (market-based), and 371,500 kg CO2e from Scope 3.
- In 2020, which serves as the baseline year for its reduction target, Amalgamated Financial's total calculated emissions were approximately 899,000 kg CO2e. This included about 42,700 kg CO2e from Scope 1, 87,900 kg CO2e from Scope 2 (market-based), and 768,400 kg CO2e from Scope 3.
The emissions data indicates a significant increase in total emissions from 2021 to 2022, followed by a reduction in 2023 and 2024, though still above the 2020 baseline. The company reports Scope 3 emissions, which primarily include categories such as purchased goods and services, business travel, and fuel and energy-related activities.
Amalgamated Financial's emissions data is self-reported and not cascaded from a parent organization.
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Amalgamated Financial’s Climate Goals (2030 & 2050)
2025
Near-zero scope 1 & 2
Target to achieve near-zero emissions for direct operations and purchased energy
On track94%
2030
62% reduction in total GHG
Vs 2019 baseline. Validated by SBTi. Includes full supply chain.
At risk48%
2040
50% reduction in Scope 3 intensity
Across purchased goods and services and logistics.
Behind target22%
Showing SBTi-validated targets only. Sign up or sign in to see all disclosed climate targets.
Scope 3 top emissions categories
8 of 15 categories disclosedSee all scope 3 categories
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Climate initiatives
Science Based Targets Initiative
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Not active
Carbon Disclosure Project
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Active
The Climate Pledge
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Not active
UN Global Compact Climate Champions initiative
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Not active
RE 100
2017 targetSee details
Active
Climate Action 100
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Not active
Emissions comparison with industry peers
View similar organisationsCompanyCountryIndustryLast updatedScoreDetails
Amalgamated Financial3 days ago
57
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Frequently asked questions
Common questions about Amalgamated Financial’s sustainability data and climate commitments
Usage policy
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