Monzo Bank Ltd, commonly known as Monzo, is a pioneering digital bank headquartered in Great Britain. Founded in 2015, Monzo has rapidly established itself within the financial intermediation services sector, specifically focusing on innovative banking solutions that cater to the modern consumer.
With a strong presence across the UK, Monzo offers a range of core products, including current accounts, savings features, and budgeting tools, all designed to enhance user experience through seamless technology. Its unique approach to banking, characterised by transparency and user-friendly interfaces, has garnered a loyal customer base and significant market recognition.
Notable achievements include being one of the first banks to introduce a fully mobile banking experience, positioning Monzo as a leader in the fintech space. As it continues to expand its services, Monzo remains committed to redefining the banking landscape for a new generation.
+6 vs industry average
Monzo’s score of 41 is higher than 58% of the industry. This can give you a sense of how well the company is doing compared to its peers.
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Industry Intensity
Financial Intermediation is among the least carbon-intensive industries
Industry performance
The Financial Intermediation industry has increased its overall emissions by 11% since 2019
Emissions trajectory 2020 – 2027
Reported emissions
Scope 3 accounts for ••• of total emissions.
Monzo's reported carbon emissions
Monzo, a financial intermediation services company headquartered in GB, reported its emissions for 2024, with a total of approximately 239.5 tonnes CO2e (239,500 kg CO2e). This figure comprises Scope 1 emissions of 0 kg CO2e, Scope 2 emissions of approximately 234.8 tonnes CO2e (234,800 kg CO2e), and Scope 3 emissions totalling about 4.7 tonnes CO2e (4,700 kg CO2e). Scope 3 emissions for 2024 were broken down into purchased goods and services at approximately 8,953 tonnes CO2e (8,953,000 kg CO2e) and business travel at about 0.68 tonnes CO2e (679,000 kg CO2e). For 2023, Monzo's total emissions were approximately 15,447 tonnes CO2e (15,447,000 kg CO2e). This included 0 kg CO2e of Scope 1 emissions, roughly 204.4 tonnes CO2e (204,400 kg CO2e) of Scope 2 emissions, and an estimated 6.8 tonnes CO2e (6,800 kg CO2e) of Scope 3 emissions. In 2021, Monzo reported total emissions of approximately 12,460 tonnes CO2e (12,460,000 kg CO2e). Scope 1 emissions were about 12.5 kg CO2e (12,500 kg CO2e) from stationary combustion. Scope 2 emissions were approximately 464.1 tonnes CO2e (464,100 kg CO2e), with purchased electricity accounting for about 1,556 tonnes CO2e (1,556,000 kg CO2e). Scope 3 emissions for 2021 were approximately 7,791.8 tonnes CO2e (7,791,800 kg CO2e), primarily driven by purchased goods and services (approximately 7,790 tonnes CO2e or 7,790,000 kg CO2e) and business travel (about 1.8 tonnes CO2e or 1,800 kg CO2e). Monzo's reported emissions for 2020 were approximately 504.9 tonnes CO2e (504,900 kg CO2e), with Scope 1 emissions at around 1.7 kg CO2e (1,700 kg CO2e) from stationary combustion and Scope 2 emissions at approximately 503.2 tonnes CO2e (503,200 kg CO2e). Earlier reports from 2017 to 2019 indicated Scope 1 and 2 emissions ranging from approximately 15,500 tonnes CO2e (15,500,000 kg CO2e) in 2019 to about 19,200 tonnes CO2e (19,200,000 kg CO2e) in 2017. Scope 3 emissions data were not consistently disclosed for these earlier years. Monzo's annual reports provide emissions intensity metrics per £1 million of revenue. For 2024, gross emissions intensity for Scope 1 and 2 was approximately 0.0000246 kg CO2e per GBP, with net emissions intensity at approximately 0.000022 kg CO2e per GBP. Monzo has not established specific reduction targets or joined global climate initiatives like the Climate Pledge.
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Monzo’s Climate Goals (2030 & 2050)
No climate goals have been disclosed for Monzo yet.
Scope 3 top emissions categories
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