SoFi Sustainability Profile
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 55 is higher than 73% 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 2024, SoFi reported total carbon emissions of approximately 5,016,400 kg CO2e, with emissions distributed across various scopes: 293,200 kg CO2e from Scope 1, 1,434,400 kg CO2e from Scope 2, and 3,289,700 kg CO2e from Scope 3, which includes 2,311,100 kg CO2e from business travel and 977,600 kg CO2e from employee commuting. This represents an increase from 2023, when total emissions were about 4,387,000 kg CO2e, with Scope 1 at 328,300 kg CO2e, Scope 2 at 1,730,300 kg CO2e, and Scope 3 at 2,236,400 kg CO2e. SoFi has set ambitious near-term targets to achieve net-zero emissions for both Scope 1 and Scope 2 by 2025, as outlined in their 2023 ESG report. These commitments reflect a proactive approach to reducing greenhouse gas emissions as part of their broader climate strategy. The company is focused on implementing GHG reductions as they progress towards their net-zero goal. The emissions data is not cascaded from any parent organization, and all figures are reported directly by SoFi Technologies, Inc. This commitment to transparency and accountability in emissions reporting aligns with industry standards and reflects SoFi's dedication to addressing climate change.
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| 2022 | 2023 | 2024 | |
|---|---|---|---|
| Scope 1 | 352,500 | 000,000 | 000,000 |
| Scope 2 | 2,049,200 | 0,000,000 | 0,000,000 |
| Scope 3 | - | 0,000,000 | 0,000,000 |
How Carbon Intensive is SoFi's Industry?
How Carbon Intensive is SoFi's Location?
SoFi's Scope 3 Categories Breakdown
SoFi's Scope 3 emissions, which increased by 41% last year and increased by approximately 41% since 2023, demonstrating supply chain emissions tracking. Most of their carbon footprint comes from suppliers and value chain emissions, with Scope 3 emissions accounting for 66% of total emissions under the GHG Protocol, with "Business Travel" being the largest emissions source at 70% of Scope 3 emissions.
Top Scope 3 Categories
SoFi'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.
SoFi 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.
