Discover Bank

Discover Bank's reported carbon emissions

Discover Bank, headquartered in the US and operating within financial intermediation services, is committed to reducing its environmental impact. The company has set ambitious targets for greenhouse gas (GHG) emissions reduction and reported its performance across various scopes. For the reporting year 2023, Discover Bank reported its Scope 1 emissions at approximately 3.04 million kg CO2e and Scope 2 emissions at approximately 28.58 million kg CO2e. In 2022, these figures were approximately 3.55 million kg CO2e for Scope 1 and approximately 31.24 million kg CO2e for Scope 2. These emissions are primarily driven by stationary and fugitive emissions for Scope 1, and purchased electricity for Scope 2. Discover Bank aims to reduce its Scope 1 and Scope 2 GHG emissions by 50% from a 2017 baseline by the year 2030. This target is considered to be on track based on the latest available data. The company's most recent reporting indicates a positive trend, with a reduction in both Scope 1 and Scope 2 emissions from 2017 through to 2023. For instance, Scope 1 emissions decreased from approximately 1.87 million kg CO2e in 2017 to approximately 3.04 million kg CO2e in 2023, though year-on-year fluctuations exist. Scope 2 emissions have seen a more consistent downward trend, reducing from approximately 39.91 million kg CO2e in 2017 to approximately 28.58 million kg CO2e in 2023. It is important to note that Discover Bank's emissions data is cascaded from Capital One Financial Corporation, with Discover Bank itself being at cascade level 2 as a merged entity. While the provided data focuses on Scope 1 and Scope 2 emissions, Discover Bank has identified Scope 3 emissions, specifically "purchased goods and services," as a missing data point in its reporting. This indicates an area for future development in their climate disclosure.