Comerica Bank Sustainability Profile
Comerica Bank, officially known as Comerica Incorporated, is a prominent financial institution headquartered in the United States, with significant operations in key regions such as Texas, California, and Michigan. Founded in 1849, Comerica has established itself as a leader in the banking industry, offering a diverse range of services including commercial banking, wealth management, and treasury management solutions. With a strong focus on business banking, Comerica is recognised for its tailored financial products that cater to the unique needs of small to mid-sized enterprises. The bank's commitment to customer service and innovative financial solutions has earned it a solid market position, making it a trusted partner for individuals and businesses alike. Notable achievements include its consistent ranking among the top banks in the U.S. for customer satisfaction and its dedication to community engagement.
DitchCarbon Score
How does Comerica 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
Comerica Bank's score of 65 is higher than 80% of the industry. This can give you a sense of how well the company is doing compared to its peers.
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Comerica Bank's reported carbon emissions
In 2024, Comerica Bank reported total carbon emissions of approximately 32,140,000 kg CO2e, comprising 5,391,000 kg CO2e from Scope 1, 22,710,000 kg CO2e from Scope 2, and a significant 9,741,822,000 kg CO2e from Scope 3 emissions. The Scope 3 emissions include substantial contributions from investments (9,058,233,000 kg CO2e) and purchased goods and services (64,228,000 kg CO2e). In 2023, the bank's emissions were slightly higher, totalling about 34,903,000 kg CO2e, with Scope 1 emissions at 5,682,000 kg CO2e and Scope 2 emissions at 25,570,000 kg CO2e. The Scope 3 emissions for that year were also significant, amounting to approximately 9,058,233,000 kg CO2e. Comerica Bank has not set specific reduction targets or initiatives as part of its climate commitments, and there are no reported SBTi (Science Based Targets initiative) reduction targets. The emissions data is cascaded from its parent company, Comerica Incorporated, reflecting the bank's current subsidiary status. Overall, while Comerica Bank has made strides in reporting its emissions across all scopes, it currently lacks defined reduction targets or commitments to further mitigate its carbon footprint.
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| 2022 | 2023 | 2024 | |
|---|---|---|---|
| Scope 1 | 6,242,000 | 0,000,000 | 0,000,000 |
| Scope 2 | 29,699,000 | 00,000,000 | 00,000,000 |
| Scope 3 | 9,665,461,000 | 0,000,000,000 | 0,000,000,000 |
How Carbon Intensive is Comerica Bank's Industry?
How Carbon Intensive is Comerica Bank's Location?
Comerica Bank's Scope 3 Categories Breakdown
Comerica Bank's Scope 3 emissions, which increased by 7% last year and increased by approximately 2% since 2022, demonstrating supply chain emissions tracking. Nearly all of their carbon footprint comes from suppliers and value chain emissions, representing nearly all emissions under the GHG Protocol, with "Investments" being the largest emissions source at 99% of Scope 3 emissions.
Top Scope 3 Categories
Comerica 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.
Comerica 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.
