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 42 is higher than 67% 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 (market-based), and significant Scope 3 emissions, primarily from business travel (about 1,453,500 kg CO2e) and employee commuting (approximately 874,900 kg CO2e). SoFi has set ambitious near-term climate commitments, aiming for greenhouse gas (GHG) reductions in both Scope 1 and Scope 2 emissions as part of their journey towards net zero. These initiatives are scheduled to be implemented between 2023 and 2025, although specific reduction percentages have not been disclosed. In 2022, SoFi's emissions were lower, with total emissions of approximately 2,449,700 kg CO2e, comprising Scope 1 emissions of about 352,500 kg CO2e and Scope 2 emissions of approximately 2,049,200 kg CO2e (market-based). This indicates a significant increase in emissions in 2023, highlighting the need for effective climate strategies moving forward. Overall, SoFi's commitment to reducing its carbon footprint reflects a growing awareness of climate impact within the financial services industry, aligning with global sustainability trends.
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| 2022 | 2023 | |
|---|---|---|
| Scope 1 | 352,500 | 000,000 |
| Scope 2 | 2,049,200 | 0,000,000 |
| Scope 3 | - | 0,000,000 |
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.
