American Express

American Express, a US-based financial intermediation services company, reported total global carbon emissions of approximately 1.93 billion kg CO2e in 2024. This figure includes Scope 1 emissions of 21.82 million kg CO2e, Scope 2 market-based emissions of 1.76 million kg CO2e, and Scope 3 emissions of 1.90 billion kg CO2e.

Looking back, American Express's emissions in 2023 were significantly lower, with Scope 1 emissions at 28.95 million kg CO2e, Scope 2 market-based emissions at 2.27 million kg CO2e, and partial Scope 3 emissions (business travel and waste generated in operations) of 18.06 million kg CO2e and 0.81 million kg CO2e respectively. In 2022, Scope 1 emissions were 21.76 million kg CO2e, Scope 2 market-based emissions were 2.27 million kg CO2e, and partial Scope 3 emissions for business travel and waste were 11.45 million kg CO2e and 0.57 million kg CO2e respectively.

American Express has robust climate commitments, with its near-term and long-term emissions reduction targets validated by the Science Based Targets initiative (SBTi) in 2024. The company is committed to achieving net-zero greenhouse gas emissions across its value chain by 2050.

Near-term SBTi targets include:

• A 60% absolute reduction in Scope 1 and 2 GHG emissions by 2033, against a 2019 base year.
• A 35% absolute reduction in Scope 3 emissions by 2033, also from a 2019 base year.
• By 2028, 75% of membership rewards redemption partners and co-brand partners (by emissions) are committed to having science-based targets covering beyond the minimum boundary emissions from purchased goods and services.

Long-term SBTi targets include:

• A 90% absolute reduction in Scope 1 and 2 GHG emissions by 2050, compared to a 2019 base year.
• A 90% absolute reduction in Scope 3 GHG emissions within the same 2019-2050 timeframe.

Additionally, American Express aims to reduce energy use by 35% across its managed facilities by 2025, using a 2011 baseline. Previously, the company aimed for a 10% reduction in GHG emissions (Scope 1 and 2) by the end of 2016 against a 2011 baseline, and an 85% reduction by 2040 from the same baseline.