Cathay General Bancorp Sustainability Profile
Cathay General Bancorp, often referred to as Cathay Bank, is a prominent financial institution headquartered in the United States. Established in 1962, the bank has grown to serve a diverse clientele across major operational regions, including California, New York, and Washington. Specialising in commercial banking, Cathay Bank offers a range of services such as personal and business banking, loans, and wealth management, distinguished by its commitment to customer service and community engagement. With a strong market position, Cathay General Bancorp has achieved notable milestones, including consistent growth in assets and a robust presence in the Asian-American community. The bank's unique approach combines traditional banking values with innovative financial solutions, making it a trusted partner for individuals and businesses alike.
DitchCarbon Score
How does Cathay General Bancorp'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
Cathay General Bancorp's score of 39 is higher than 59% of the industry. This can give you a sense of how well the company is doing compared to its peers.
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Cathay General Bancorp's reported carbon emissions
In 2023, Cathay General Bancorp reported total greenhouse gas emissions of approximately 521,830 kg CO2e from Scope 1 and 2 combined, with Scope 1 emissions at about 56,340 kg CO2e and Scope 2 emissions (market-based) at approximately 465,490 kg CO2e. Additionally, the company recorded Scope 3 emissions of about 42,740 kg CO2e. Cathay General Bancorp has set ambitious reduction targets, aiming to reduce its Scope 1 and 2 greenhouse gas emissions cumulatively by 30% by 2025 and by 42% by 2030, using 2020 as the baseline year. These targets reflect the company's commitment to addressing climate change and reducing its carbon footprint. The emissions data is not cascaded from any parent company, indicating that the figures are independently reported by Cathay General Bancorp. The company continues to focus on sustainability initiatives as part of its broader environmental strategy.
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| 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | |
|---|---|---|---|---|---|---|
| Scope 1 | - | - | 00,000 | 00,000 | 00,000 | 00,000 |
| Scope 2 | 52,487,760 | 00,000,000 | 0,000,000 | 0,000,000 | 000,000 | 000,000 |
| Scope 3 | 4,450,140 | 0,000,000 | 00,000 | 0,000 | 00,000 | 00,000 |
How Carbon Intensive is Cathay General Bancorp's Industry?
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Cathay General Bancorp's Climate Goals (2030 & 2050)
Climate goals typically focus on 2030 interim targets and 2050 net-zero commitments, aligned with global frameworks like the Paris Agreement and Science Based Targets initiative (SBTi) to ensure alignment with global climate goals.
Cathay General Bancorp has not publicly committed to specific 2030 or 2050 climate goals through the major frameworks we track. Companies often set interim 2030 targets and long-term 2050 net-zero goals to demonstrate measurable progress toward decarbonization.
