NewBank Sustainability Profile
NewBank, officially known as NewBank USA, is a prominent financial institution headquartered in the United States. Established in 2016, the bank has rapidly expanded its operations across major regions, focusing on providing innovative banking solutions tailored to meet the needs of its diverse clientele. Operating within the fintech industry, NewBank offers a range of core products and services, including digital banking, personal loans, and credit solutions. What sets NewBank apart is its commitment to leveraging technology to enhance customer experience and streamline financial processes. With a strong market position, NewBank has achieved significant milestones, including rapid customer growth and recognition for its user-friendly platform. As a forward-thinking bank, NewBank continues to redefine the banking landscape, making financial services more accessible and efficient for all.
DitchCarbon Score
How does NewBank'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
NewBank's score of 26 is lower than 55% of the industry. This can give you a sense of how well the company is doing compared to its peers.
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NewBank's reported carbon emissions
In 2023, NewBank reported total carbon emissions of approximately 350,431,320 kg CO2e. This marks a significant increase from 2022, when emissions were about 215,105,190 kg CO2e, and from 2021, which saw emissions of approximately 75,293,120 kg CO2e. The emissions data does not specify Scope 1, 2, or 3 categories, indicating a lack of detailed disclosure in these areas. NewBank has set ambitious climate commitments, aiming to reduce its Scope 1 and Scope 2 emissions to near zero by 2025. This near-term target reflects the bank's commitment to addressing its direct and indirect emissions, although specific reduction percentages have not been disclosed. The emissions data is not cascaded from any parent organization, indicating that NewBank's reported figures are independently sourced. The bank's climate strategy aligns with industry standards, focusing on significant reductions in its carbon footprint as part of its broader sustainability initiatives.
How Carbon Intensive is NewBank's Industry?
How Carbon Intensive is NewBank's Location?
NewBank's Climate Goals (2030 & 2050)
Climate goals typically focus on 2030 interim targets and 2050 net-zero commitments, aligned with global frameworks like the Paris Agreement and Science Based Targets initiative (SBTi) to ensure alignment with global climate goals.
NewBank has not publicly committed to specific 2030 or 2050 climate goals through the major frameworks we track. Companies often set interim 2030 targets and long-term 2050 net-zero goals to demonstrate measurable progress toward decarbonization.
