Monzo
Monzo Bank Ltd, commonly known as Monzo, is a pioneering digital bank headquartered in London, GB. Founded in 2015, Monzo has rapidly established itself in the fintech industry, focusing on providing innovative banking solutions primarily for personal and business customers across the UK. The bank's core offerings include a user-friendly mobile app, instant notifications, and budgeting tools, which set it apart from traditional banking institutions. Monzo's commitment to transparency and customer-centric services has garnered a loyal user base, contributing to its position as one of the leading challengers in the UK banking sector. With significant milestones such as obtaining a full banking licence in 2017 and expanding its services to include business accounts, Monzo continues to redefine the banking experience for a new generation of customers.
DitchCarbon Score
How does Monzo'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
Monzo's score of 16 is higher than 76% of the industry. This can give you a sense of how well the company is doing compared to its peers.
Monzo's reported carbon emissions
In 2023, Monzo reported total carbon emissions of approximately 15,447,000 kg CO2e globally, with no emissions from Scope 1 and 204,400 kg CO2e from Scope 2. Scope 3 emissions accounted for about 6,800 kg CO2e. In the UK, Monzo's emissions for the same year were approximately 208,600 kg CO2e for Scope 2 and 4,700 kg CO2e for Scope 3, with no emissions from Scope 1. In 2021, Monzo's global emissions were approximately 12,460,000 kg CO2e, with Scope 1 emissions at 12,500 kg CO2e, Scope 2 at 1,556,000 kg CO2e, and Scope 3 emissions reaching about 7,790,000 kg CO2e. The UK figures for 2021 showed Scope 1 emissions of 11,800 kg CO2e and Scope 3 emissions of 1,800 kg CO2e. Monzo has not disclosed specific reduction targets or initiatives as part of their climate commitments. However, they continue to monitor and report their emissions across all relevant scopes, demonstrating a commitment to transparency in their environmental impact.
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Add to project| 2020 | 2021 | 2023 | 2024 | |
|---|---|---|---|---|
| Scope 1 | 1,000 | 00,000 | - | - |
| Scope 2 | - | 0,000,000 | 000,000 | 000,000 |
| Scope 3 | 6,570,000 | 0,000,000 | 0,000 | 0,000 |
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.
Monzo is not committed to any reduction initiatives 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.
