Equitable
Equitable Bank, officially known as Equitable Group Inc., is a prominent Canadian financial institution headquartered in Ontario, CA. Founded in 1970, the bank has established itself as a leader in the alternative lending sector, focusing on residential and commercial mortgages, as well as savings products. With a commitment to innovation, Equitable Bank has introduced unique offerings such as high-interest savings accounts and flexible mortgage solutions tailored to meet diverse customer needs. Operating primarily in Ontario and expanding across Canada, Equitable Bank has achieved significant milestones, including its status as one of the largest independent banks in the country. The institution is recognised for its customer-centric approach and robust digital banking platform, which enhances accessibility and convenience for its clients. With a strong market position, Equitable Bank continues to redefine the banking experience, making it a trusted choice for Canadians seeking reliable financial services.
DitchCarbon Score
How does Equitable'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
Equitable's score of 46 is higher than 70% of the industry. This can give you a sense of how well the company is doing compared to its peers.
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Equitable's reported carbon emissions
In 2023, Equitable reported total carbon emissions of approximately 9,268,000 kg CO2e. This figure includes Scope 1 emissions of about 1,715,000 kg CO2e, Scope 2 emissions (location-based) of around 5,700,000 kg CO2e, and Scope 3 emissions totalling about 1,853,000 kg CO2e. Comparatively, in 2022, the total emissions were approximately 12,637,000 kg CO2e, with Scope 1 at about 2,949,000 kg CO2e, Scope 2 at around 7,286,000 kg CO2e, and Scope 3 at approximately 2,402,000 kg CO2e. This indicates a significant reduction in total emissions of about 3,369,000 kg CO2e from 2022 to 2023. Equitable's emissions data is cascaded from its parent company, Equitable Bank, which is classified as a current subsidiary. However, there are no specific reduction targets or climate pledges documented in their current initiatives. The company has disclosed emissions across all three scopes, demonstrating a commitment to transparency in its climate impact reporting. Overall, Equitable's emissions reduction from 2022 to 2023 reflects a positive trend in their climate commitments, although further initiatives and targets would enhance their sustainability profile.
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| 2019 | 2020 | 2021 | 2022 | 2023 | |
|---|---|---|---|---|---|
| Scope 1 | 3,232,000 | 0,000,000 | 0,000,000 | 0,000,000 | 0,000,000 |
| Scope 2 | 8,670,000 | 0,000,000 | 0,000,000 | 0,000,000 | 0,000,000 |
| Scope 3 | 3,907,000 | 000,000 | 000,000 | 0,000,000 | 0,000,000 |
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.
Equitable is not participating in any of the initiatives that 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.
