Provident Financial Services, Inc. Sustainability Profile
Provident Financial Services, Inc., commonly known as Provident Bank, is a prominent financial institution headquartered in the United States, with a strong presence in New Jersey and New York. Founded in 1839, the bank has established itself as a trusted provider of a wide range of financial services, including personal and commercial banking, mortgage lending, and wealth management. With a commitment to customer-centric solutions, Provident Bank offers unique products such as tailored mortgage options and innovative digital banking services. The bank's dedication to community engagement and financial education has earned it a solid reputation in the industry. As a key player in the regional banking sector, Provident Financial Services continues to achieve notable milestones, reinforcing its position as a reliable partner for individuals and businesses alike.
DitchCarbon Score
How does Provident Financial Services, Inc.'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 Services Auxiliary to 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
Provident Financial Services, Inc.'s score of 27 is lower than 58% of the industry. This can give you a sense of how well the company is doing compared to its peers.
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Provident Financial Services, Inc.'s reported carbon emissions
In 2022, Provident Financial Services, Inc. reported total carbon emissions of approximately 686,600 kg CO2e, comprising 404,000 kg CO2e from Scope 1 and 282,600 kg CO2e from Scope 2 emissions. This marks a significant reduction from 2021, where Scope 1 emissions alone were reported at 533,000,000 kg CO2e. In 2020, the company disclosed a total of 4,507,000 kg CO2e, with Scope 1 emissions at 408,000 kg CO2e, Scope 2 at 1,113,000 kg CO2e, and Scope 3 at 2,986,000 kg CO2e. Despite these figures, Provident Financial Services has not established specific reduction targets or initiatives, as indicated by the absence of SBTi reduction targets or documented climate pledges. The company’s emissions data is not cascaded from any parent organisation, indicating that all reported figures are directly from Provident Financial Services, Inc. Overall, while the company has made strides in reducing its emissions, further commitments and targets would enhance its climate strategy and align it with industry standards for sustainability.
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| 2020 | 2021 | 2022 | |
|---|---|---|---|
| Scope 1 | 408,000 | 000,000,000 | 000,000 |
| Scope 2 | 1,113,000 | - | 000,000 |
| Scope 3 | 2,986,000 | - | - |
How Carbon Intensive is Provident Financial Services, Inc.'s Industry?
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Provident Financial Services, Inc.'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.
Provident Financial Services, Inc. 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.
