Mogo Inc. Sustainability Profile
Mogo Inc., a prominent Canadian fintech company headquartered in Vancouver, British Columbia, has been a key player in the financial services industry since its founding in 2003. With a focus on providing innovative digital solutions, Mogo offers a range of products including personal loans, a cryptocurrency platform, and a unique credit score monitoring service. The company has distinguished itself by integrating technology with financial wellness, making it easier for consumers to manage their finances. Mogo's commitment to transparency and user-friendly services has earned it a strong market position, appealing to a growing demographic seeking alternative financial solutions. Over the years, Mogo has achieved significant milestones, solidifying its reputation as a leader in the evolving landscape of digital finance in Canada.
DitchCarbon Score
How does Mogo Inc.'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
Mogo Inc.'s score of 28 is lower than 54% of the industry. This can give you a sense of how well the company is doing compared to its peers.
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Mogo Inc.'s reported carbon emissions
In 2022, Mogo Inc. reported total carbon emissions of approximately 686,600 kg CO2e, comprising 404,000 kg CO2e from Scope 1 and 282,600 kg CO2e from Scope 2. The company has not disclosed any Scope 3 emissions data. For 2021, Mogo's Scope 1 emissions were significantly higher, at about 533,000,000 kg CO2e, indicating a substantial reduction in emissions by 2022. This reduction reflects Mogo's commitment to sustainability and operational efficiency. Mogo has set ambitious long-term targets to achieve net-zero emissions for both Scope 1 and Scope 2 by 2050. Initiatives include the implementation of natural lighting, thermal ventilation, a 540 kW solar panel system, and advanced recycling processes, which have collectively reduced energy consumption by approximately 90%. These efforts not only aim to lower carbon emissions but also enhance operational cost efficiency. As of now, Mogo Inc. does not inherit emissions data from any parent or related organizations, ensuring that its reported figures are solely its own. The company continues to focus on its climate commitments and reduction initiatives as part of its broader sustainability strategy.
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| 2021 | 2022 | |
|---|---|---|
| Scope 1 | 533,000,000 | 000,000 |
| Scope 2 | - | 000,000 |
| Scope 3 | - | - |
How Carbon Intensive is Mogo Inc.'s Industry?
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Mogo Inc.'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.
Mogo Inc. 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.
