Synchrony
Synchrony Financial, commonly known as Synchrony, is a leading provider of consumer financial services headquartered in the United States. Founded in 2003, the company has established a strong presence across various operational regions, focusing primarily on retail finance, payment solutions, and consumer banking. Specialising in private label credit cards, promotional financing, and loyalty programmes, Synchrony distinguishes itself through innovative technology and strategic partnerships with major retailers. The company has achieved significant milestones, including its initial public offering in 2014, which solidified its position in the financial services industry. With a commitment to enhancing customer experiences, Synchrony has garnered recognition for its robust digital capabilities and customer-centric approach, making it a key player in the consumer finance sector.
DitchCarbon Score
How does Synchrony'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
Synchrony's score of 46 is higher than 68% of the industry. This can give you a sense of how well the company is doing compared to its peers.
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Synchrony's reported carbon emissions
In 2023, Synchrony reported total carbon emissions of approximately 34,501,000 kg CO2e. This figure includes 126,000 kg CO2e from Scope 1 emissions, 17,606,000 kg CO2e from Scope 2 emissions, and 16,769,000 kg CO2e from Scope 3 emissions. This represents an increase from 2022, when total emissions were about 26,997,000 kg CO2e, with Scope 1 at 223,000 kg CO2e, Scope 2 at 19,435,000 kg CO2e, and Scope 3 at 7,339,000 kg CO2e. Synchrony has set ambitious climate commitments, aiming for a 30% reduction in absolute Scope 1 and 2 emissions by 2030, relative to a 2019 baseline. This commitment reflects a proactive approach to mitigating climate impact and aligns with industry standards for sustainability. The company is also focused on achieving net-zero emissions in the long term, with a vision to deliver 100% carbon-free electricity by 2050. The emissions data is not cascaded from any parent company, and all figures are reported directly by Synchrony Financial. The company continues to enhance its sustainability initiatives, demonstrating a commitment to reducing its carbon footprint and addressing climate change effectively.
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| 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | |
|---|---|---|---|---|---|---|
| Scope 1 | 1,751,000 | 0,000,000 | 0,000,000 | 000,000 | 000,000 | 000,000 |
| Scope 2 | 25,736,000 | 00,000,000 | 00,000,000 | 00,000,000 | 00,000,000 | 00,000,000 |
| Scope 3 | 12,437,000 | 00,000,000 | 0,000,000 | 0,000,000 | 0,000,000 | 00,000,000 |
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.
Synchrony 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.
