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 41 is higher than 86% 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 Financial's reported carbon emissions
In 2022, Amalgamated Financial reported total carbon emissions of approximately 7,839,600 kg CO2e, with significant contributions from Scope 3 emissions, which accounted for about 7,739,600 kg CO2e. Scope 1 emissions were recorded at 86,900 kg CO2e, while Scope 2 emissions totalled 590,800 kg CO2e, with a market-based total of 35,200 kg CO2e. The bank has set ambitious climate commitments, aiming for net zero emissions by 2045. Additionally, they have pledged to achieve a 50% reduction in Scope 1 and 2 emissions by 2025. These targets align with industry standards for climate action, reflecting a commitment to reducing greenhouse gas emissions in line with the 1.5°C warming limit. Amalgamated Financial's emissions data from previous years shows a trend of increasing emissions, with 2021 reporting approximately 37,150,000 kg CO2e and 2020 at about 898,900 kg CO2e. The bank's proactive approach to sustainability and climate responsibility is evident in their long-term and near-term reduction targets, which encompass a significant portion of their operational footprint.
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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 participating in some 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.
