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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.
+2 vs industry average
Monzo’s score of 39 is higher than 54% of the industry. This can give you a sense of how well the company is doing compared to its peers.
Financial Intermediation has below-average carbon intensity
The Financial Intermediation industry has reduced its overall emissions by 33% since 2018
Scope 3 accounts for ••• of total emissions.
Monzo, a UK-based financial intermediation services provider, reported approximately 9,835 metric tons CO2e in total carbon emissions for 2024. This includes Scope 2 emissions of 234,800 kg CO2e and Scope 3 emissions of 4,700 kg CO2e, with significant contributions from purchased goods and services (8,953,000 kg CO2e) and business travel (679,000 kg CO2e).
In 2023, Monzo's total emissions were approximately 15,447 metric tons CO2e, comprising Scope 2 emissions of 204,400 kg CO2e and Scope 3 emissions of 6,800 kg CO2e. For 2021, total emissions were approximately 12,460 metric tons CO2e, with Scope 1 emissions at 12,500 kg CO2e, Scope 2 at 464,100 kg CO2e (including 1,556,000 kg CO2e from purchased electricity), and Scope 3 at 1,800 kg CO2e from business travel and 7,790,000 kg CO2e from purchased goods and services.
Looking back to 2020, the company reported approximately 504.9 metric tons CO2e, with Scope 1 emissions at 1,700 kg CO2e and Scope 2 emissions at 503,200 kg CO2e. There was no Scope 3 business travel reported for this year. Earlier data shows combined Scope 1 and 2 emissions of approximately 15,500 metric tons CO2e in 2019, 17,000 metric tons CO2e in 2018, and 19,200 metric tons CO2e in 2017. Monzo has not publicly disclosed any specific carbon reduction targets.
No climate goals have been disclosed for Monzo yet.
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