Citizens Bank

Citizens Bank, headquartered in GB and operating within financial intermediation services, is actively engaged in reducing its carbon footprint. For the reporting year 2024, the bank reported significant emissions across various scopes.

2024 Emissions:

• Scope 1: Approximately 9,552,300 kg CO2e.
• Scope 2 (Location-Based): Approximately 28,843,150 kg CO2e.
• Scope 3: A substantial portion of emissions in 2024 came from Scope 3, with 'investments' accounting for approximately 46,942,162,000 kg CO2e. Other Scope 3 categories reported include 'business travel' at about 3,791,760 kg CO2e, 'employee commute' at approximately 16,766,580 kg CO2e, 'purchased goods and services' at about 523,700 kg CO2e, 'waste generated in operations' at approximately 1,489,440 kg CO2e, 'fuel and energy-related activities' at about 1,247,570 kg CO2e, and 'upstream transportation and distribution' at approximately 410,300 kg CO2e.
• Total Emissions (Scope 1+2+3): Approximately 46,993,156,410 kg CO2e.

Climate Commitments and Targets:

Citizens Bank has established clear climate goals:

• Carbon Neutrality: The bank aims to achieve operational carbon neutrality for its Scope 1 and 2 emissions by 2035. This includes matching electricity usage with renewable energy and, by 2035, neutralising remaining Scope 1 & 2 emissions with renewable energy credits or high-quality carbon offsets.
• Medium-Term Reduction Target: Citizens Bank has set a revised medium-term target to reduce its Scope 1 and 2 (location-based) emissions by 29% by 2030, using 2023 as the base year. This target is being tracked, and the bank is currently on track for its two-year progress towards this goal.

The bank's sustainability reporting for 2024 indicates that its emissions data is not cascaded from a parent organisation.