SoFi
SoFi, officially known as Social Finance, Inc., is a leading financial technology company headquartered in the United States. Founded in 2011, SoFi has rapidly established itself in the fintech industry, primarily focusing on personal finance, student and personal loans, mortgage refinancing, and investment services. With a commitment to empowering individuals to achieve financial independence, SoFi offers unique products such as its SoFi Invest platform and SoFi Money cash management account. Operating across major regions in the US, SoFi has achieved significant milestones, including its public listing in 2021 through a merger with a special purpose acquisition company (SPAC). Renowned for its user-friendly digital experience and comprehensive financial solutions, SoFi has positioned itself as a trusted partner for millions seeking to manage their finances effectively.
DitchCarbon Score
How does SoFi'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
SoFi's score of 28 is higher than 77% of the industry. This can give you a sense of how well the company is doing compared to its peers.
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SoFi's reported carbon emissions
In 2023, SoFi reported total carbon emissions of approximately 4,387,000 kg CO2e. This figure includes Scope 1 emissions of about 328,300 kg CO2e, Scope 2 emissions of approximately 1,730,300 kg CO2e, and significant Scope 3 emissions, which comprise business travel emissions of about 1,453,500 kg CO2e and employee commute emissions of approximately 874,900 kg CO2e. Despite the detailed emissions reporting, SoFi has not disclosed any specific reduction targets or initiatives aimed at decreasing their carbon footprint. The absence of defined climate commitments suggests that while the company is tracking its emissions, it may not yet have established formal strategies to mitigate its environmental impact. As a financial services provider headquartered in the US, SoFi's emissions profile reflects the broader industry context, where many companies are increasingly focusing on sustainability and carbon reduction. However, without concrete targets or pledges, SoFi's commitment to addressing climate change remains unclear.
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| 2023 | |
|---|---|
| Scope 1 | 328,300 |
| Scope 2 | 1,730,300 |
| Scope 3 | 2,328,400 |
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.
SoFi is not participating in any of the initiatives that 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.
