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 36 is higher than 87% 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 carbon emissions of approximately 15447000 kg CO2e globally, with 204400 kg CO2e from Scope 2 emissions and 6800 kg CO2e from Scope 3 emissions. Notably, there were no reported Scope 1 emissions. In the UK, Monzo's emissions for the same year were about 208600 kg CO2e for Scope 2 and 4700 kg CO2e for Scope 3, again with no Scope 1 emissions. Comparatively, in 2021, Monzo's global emissions were approximately 12460000 kg CO2e, with Scope 1 emissions at 12500 kg CO2e, Scope 2 at 1556000 kg CO2e, and Scope 3 emissions reaching 7790000 kg CO2e. The UK figures for 2021 showed Scope 1 emissions of 11800 kg CO2e and Scope 3 emissions of 1800 kg CO2e. Despite these figures, Monzo has not set specific reduction targets or initiatives as part of their climate commitments. The absence of documented reduction targets suggests a need for further action in addressing their carbon footprint.
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| 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.
