Citizens Bank Sustainability Profile
Citizens Bank, officially known as Citizens Financial Group, Inc., is a prominent financial institution headquartered in Great Britain. Established in 1828, the bank has evolved into a key player in the banking industry, primarily serving the northeastern and midwestern regions of the United States. With a diverse portfolio, Citizens Bank offers a range of services including personal banking, commercial banking, and wealth management. Its commitment to customer service and innovative financial solutions sets it apart in a competitive market. Recognised for its strong market position, Citizens Bank has achieved significant milestones, including the expansion of its digital banking capabilities. The bank continues to focus on delivering unique products tailored to meet the needs of its customers, solidifying its reputation as a trusted financial partner.
DitchCarbon Score
How does Citizens Bank'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
Citizens Bank's score of 62 is higher than 78% of the industry. This can give you a sense of how well the company is doing compared to its peers.
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Citizens Bank's reported carbon emissions
In 2024, Citizens Bank reported total carbon emissions of approximately 38,395,000 kg CO2e, comprising 9,552,000 kg CO2e from Scope 1 and 28,843,000 kg CO2e from Scope 2 emissions. The bank also disclosed Scope 3 emissions, including 3,792,000 kg CO2e from business travel and 523,700 kg CO2e from purchased goods and services. Citizens Bank has set ambitious climate commitments, aiming for carbon neutrality in its operations by 2035. This includes a target to reduce Scope 1 and 2 emissions by 29% by 2030, using 2023 as the baseline year. The bank plans to neutralise remaining emissions through renewable energy credits or high-quality carbon offsets. In 2023, the bank's total emissions were about 41,548,000 kg CO2e, indicating a slight increase in emissions from the previous year. The bank's long-term strategy focuses on reducing operational emissions and matching electricity usage with renewable energy sources. Citizens Bank's emissions data is not cascaded from a parent company, ensuring that its climate commitments and performance are independently reported.
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| 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | |
|---|---|---|---|---|---|---|---|---|---|
| Scope 1 | - | - | - | - | - | - | - | 0,000,000 | 0,000,000 |
| Scope 2 | - | - | - | - | - | - | - | 00,000,000 | - |
| Scope 3 | - | - | - | - | - | - | - | 0,000,000 | 0,000,000 |
How Carbon Intensive is Citizens Bank's Industry?
How Carbon Intensive is Citizens Bank's Location?
Citizens Bank's Scope 3 Categories Breakdown
Citizens Bank's Scope 3 emissions, which decreased by 1% last year and decreased by approximately 1% since 2023, demonstrating supply chain emissions tracking. A significant portion of their carbon footprint comes from suppliers and value chain emissions, with Scope 3 emissions accounting for 31% of total emissions under the GHG Protocol, with "Business Travel" being the largest emissions source at 88% of Scope 3 emissions.
Top Scope 3 Categories
Citizens Bank'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.
Citizens Bank 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.
