Equitable Sustainability Profile
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 49 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, comprising 1,715,000 kg CO2e from Scope 1, 5,700,000 kg CO2e from Scope 2, and 1,853,000 kg CO2e from Scope 3 emissions. This data reflects a comprehensive approach to emissions reporting, with all three scopes disclosed. In 2022, Equitable's emissions were significantly lower at about 12,637,000 kg CO2e globally, with Scope 1 emissions at 2,949,000 kg CO2e, Scope 2 emissions at 7,286,000 kg CO2e, and Scope 3 emissions at 2,402,000 kg CO2e. The previous year, 2021, saw total emissions of approximately 11,292,000 kg CO2e, with Scope 1 at 3,143,000 kg CO2e, Scope 2 at 7,945,000 kg CO2e, and a minimal Scope 3 contribution of 204,000 kg CO2e. For the Canadian operations, 2022 emissions were reported at about 675,335,000 kg CO2e, predominantly from Scope 3 at 674,639,000 kg CO2e, indicating a heavy reliance on upstream emissions, particularly from investments. In 2021, Canadian emissions were approximately 610,999,000 kg CO2e, again primarily from Scope 3. Equitable has not set specific reduction targets or initiatives, as indicated by the absence of documented reduction targets or SBTi commitments. The emissions data is cascaded from Equitable Bank, a current subsidiary of EQB Inc., ensuring a consistent approach to emissions reporting across the corporate family. Overall, Equitable's emissions profile highlights a significant focus on Scope 3 emissions, particularly in its Canadian operations, while demonstrating a commitment to transparency in emissions reporting across all scopes.
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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 |
How Carbon Intensive is Equitable's Industry?
How Carbon Intensive is Equitable's Location?
Equitable'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.
Equitable 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.
