Eq Bank
Eq Bank, officially known as Equitable Bank, is a leading Canadian financial institution headquartered in Toronto, Ontario. Founded in 1970, it has established itself as a prominent player in the banking industry, particularly in the areas of digital banking and innovative financial solutions. With a focus on providing high-interest savings accounts, mortgages, and GICs, Eq Bank distinguishes itself through its commitment to customer-centric services and competitive rates. The bank's unique digital platform allows for seamless banking experiences, catering to a tech-savvy clientele across Canada. Notable achievements include its recognition as one of Canada's fastest-growing banks, reflecting its strong market position and dedication to redefining traditional banking practices. As a trusted name in the financial sector, Eq Bank continues to evolve, offering modern solutions that meet the needs of today's consumers.
DitchCarbon Score
How does Eq 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
Eq Bank's score of 33 is higher than 71% of the industry. This can give you a sense of how well the company is doing compared to its peers.
Eq Bank's reported carbon emissions
In 2022, Eq Bank reported total carbon emissions of approximately 696,000 tonnes CO2e, with Scope 1 emissions at about 530,000 tonnes CO2e and Scope 2 emissions at around 166,000 tonnes CO2e. The bank's Scope 3 emissions were significantly higher, reaching approximately 674,639,000 tonnes CO2e. In 2021, Eq Bank's total emissions were about 490,000 tonnes CO2e, with Scope 1 at approximately 366,000 tonnes CO2e and Scope 2 at around 124,000 tonnes CO2e. The Scope 3 emissions for that year were approximately 610,509,000 tonnes CO2e. The 2020 emissions data showed a total of about 553,000 tonnes CO2e, with Scope 1 emissions at approximately 420,000 tonnes CO2e and Scope 2 at around 133,000 tonnes CO2e. The Scope 3 emissions for 2020 were approximately 536,892,000 tonnes CO2e. Despite these figures, Eq Bank has not publicly committed to specific reduction targets or initiatives, indicating a potential area for future development in their climate strategy. The bank's emissions intensity metrics include approximately 510 tonnes CO2e per full-time equivalent (FTE) and about 4.2 tonnes CO2e per square foot of occupied space in 2022. Overall, while Eq Bank has made strides in measuring its carbon footprint, the absence of defined reduction targets suggests an opportunity for enhanced climate commitments moving forward.
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Add to project2020 | 2021 | 2022 | |
|---|---|---|---|
| Scope 1 | 420,000 | 000,000 | 000,000 |
| Scope 2 | 133,000 | 000,000 | 000,000 |
| Scope 3 | 536,892,000 | 000,000,000 | 000,000,000 |
Industry emissions intensity
Location emissions intensity
Reduction initiatives & disclosure networks
Companies disclose and commit to reducing emissions to show they are serious about reducing emissions impact over time. They can also help a company track its progress over time.
Eq Bank is not committed to any reduction initiatives we track. This may change over time as the company engages with new initiatives or updates its commitments. DitchCarbon will update this information as it becomes available.
