Silicon Valley Bank

Silicon Valley Bank's Carbon Emissions & Climate Commitments

In 2021, Silicon Valley Bank's carbon emissions were approximately 16.09 million kg CO2e. This included Scope 1 emissions of 306,000 kg CO2e, market-based Scope 2 emissions of 5.58 million kg CO2e, and various Scope 3 emissions totalling about 10.29 million kg CO2e. The Scope 3 emissions in 2021 comprised 1.43 million kg CO2e from capital goods, 1.07 million kg CO2e from business travel, 7.27 million kg CO2e from employee commute, and 585,000 kg CO2e from upstream leased assets. This data is reported directly by Silicon Valley Bank, which is a merged entity under First-Citizens Bank & Trust Company for CDP reporting.

In the preceding year, 2020, total emissions were around 16.34 million kg CO2e. This figure included Scope 1 emissions of 575,000 kg CO2e, market-based Scope 2 emissions of 6.78 million kg CO2e, and Scope 3 emissions of approximately 9.56 million kg CO2e. The breakdown for Scope 3 in 2020 was 1.58 million kg CO2e from capital goods, 2.69 million kg CO2e from business travel, 4.76 million kg CO2e from employee commute, and 525,000 kg CO2e from upstream leased assets.

Looking further back to 2019, Silicon Valley Bank reported total emissions of 30.99 million kg CO2e. This included Scope 1 emissions of 613,000 kg CO2e, market-based Scope 2 emissions of 7.77 million kg CO2e, and Scope 3 emissions of approximately 22.61 million kg CO2e. Key Scope 3 contributors in 2019 were 13.26 million kg CO2e from business travel, 7.27 million kg CO2e from employee commute, 555,000 kg CO2e from upstream leased assets, and 1.53 million kg CO2e from fuel and energy-related activities.

Currently, Silicon Valley Bank has no publicly available documented emissions reduction targets or Science-Based Targets (SBTi). They are also not listed as participants in initiatives such as RE100, CA100, or the Climate Pledge.