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.
+4 vs industry average
Monzo’s score of 41 is higher than 56% 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 reduced its overall emissions by 33% since 2018
Emissions trajectory 2020 – 2027
Reported emissions
Scope 3 accounts for ••• of total emissions.
Monzo's reported carbon emissions
Monzo's latest reported carbon emissions for 2024 show a total of approximately 93.1 million kg CO2e. This figure is comprised of Scope 1, Scope 2, and Scope 3 emissions.
For the 2024 reporting year, Monzo reported Scope 2 emissions totalling approximately 234,800 kg CO2e. Scope 3 emissions for the same year were approximately 4,700 kg CO2e, with purchased goods and services accounting for about 8,953,000 kg CO2e, and business travel contributing approximately 679,000 kg CO2e. Scope 1 emissions were reported as 0.0 kg CO2e.
In 2023, Monzo's total emissions were approximately 15.4 million kg CO2e. This included Scope 1 emissions of 0.0 kg CO2e, Scope 2 emissions of about 204,400 kg CO2e, and Scope 3 emissions of approximately 6,800 kg CO2e.
Monzo's emissions data for previous years includes:
- 2021: Total emissions of approximately 12.5 million kg CO2e, with Scope 1 at about 12,500 kg CO2e, Scope 2 at approximately 464,100 kg CO2e, and Scope 3 at around 7,790,000 kg CO2e for purchased goods and services.
- 2020: Scope 1 emissions of approximately 1,700 kg CO2e and Scope 2 emissions of about 503,200 kg CO2e. Scope 3 data was not fully disclosed for this year.
- 2019: Scope 1 and 2 emissions totalled approximately 15.5 million kg CO2e.
- 2018: Scope 1 and 2 emissions were approximately 17.0 million kg CO2e.
- 2017: Scope 1 and 2 emissions were approximately 19.2 million kg CO2e.
Monzo's emissions intensity per £1m of revenue for 2024 shows a gross figure of approximately 2.46 x 10^-5 kg CO2e and a net figure of about 2.2 x 10^-5 kg CO2e. For 2023, the gross intensity was around 4.2 x 10^-5 kg CO2e, and the net intensity was approximately 3.6 x 10^-5 kg CO2e.
Monzo is committed to climate action and has disclosed its emissions across Scope 1, 2, and 3. The company's climate commitments are detailed in its annual reports. Although specific reduction targets and achievements, such as Science Based Targets initiative (SBTi) commitments, are not detailed in the provided information, Monzo actively reports on its environmental impact within the financial intermediation sector in Great Britain.
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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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Emissions comparison with industry peers
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