Farmington Bank Sustainability Profile
Farmington Bank, officially known as Farmington Savings Bank, is a prominent financial institution headquartered in the United States, specifically in Farmington, Connecticut. Established in 1851, the bank has a rich history of serving the local community and has expanded its operations across several regions in Connecticut. As a key player in the banking industry, Farmington Bank offers a diverse range of services, including personal banking, business banking, and mortgage solutions. Its commitment to customer service and community involvement sets it apart from competitors. The bank has achieved notable milestones, including a strong market position within the state, recognised for its innovative financial products and community-focused initiatives. With a focus on building lasting relationships, Farmington Bank continues to be a trusted partner for individuals and businesses alike.
DitchCarbon Score
How does Farmington 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 Services Auxiliary to 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
Farmington Bank's score of 42 is higher than 63% of the industry. This can give you a sense of how well the company is doing compared to its peers.
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Farmington Bank currently does not have specific carbon emissions data available for the most recent year, as indicated by the absence of reported figures. The bank's climate commitments and reduction initiatives are also not detailed, suggesting a lack of formal targets or pledges at this time. However, it is important to note that Farmington Bank's emissions data and performance metrics are cascaded from its parent company, M&T Bank Corporation, at a third-level corporate relationship. This means that any climate-related initiatives or targets may be influenced by M&T Bank's strategies and commitments. As of now, without specific emissions data or reduction targets, it is unclear how Farmington Bank is addressing its carbon footprint. The bank may benefit from aligning with industry standards and setting measurable climate goals to enhance its sustainability profile.
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| 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | |
|---|---|---|---|---|---|---|---|---|
| Scope 1 | 35,166,000 | 00,000,000 | 00,000,000 | 00,000,000 | 00,000,000 | 00,000,000 | 00,000,000 | 00,000,000 |
| Scope 2 | 29,992,000 | 00,000,000 | 00,000,000 | 00,000,000 | 00,000,000 | 00,000,000 | 00,000,000 | 00,000,000 |
| Scope 3 | 3,345,000 | 0,000,000 | 0,000,000 | 0,000,000 | 0,000,000 | - | - | - |
How Carbon Intensive is Farmington Bank's Industry?
How Carbon Intensive is Farmington Bank's Location?
Farmington Bank's Scope 3 Categories Breakdown
Farmington Bank's Scope 3 emissions, which decreased by 31% last year and decreased by approximately 61% since 2017, demonstrating supply chain emissions tracking. Their carbon footprint includes suppliers and value chain emissions, with Scope 3 emissions accounting for 3% of total emissions under the GHG Protocol, with "Business Travel" representing nearly all of their reported Scope 3 footprint.
Top Scope 3 Categories
Farmington 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.
Farmington 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.
