Tangerine Bank Sustainability Profile
Tangerine Bank, formerly known as ING Direct Canada, is a prominent player in the Canadian banking industry, headquartered in Toronto, Ontario. Established in 1997, Tangerine has revolutionised the banking experience by offering a range of innovative financial products and services, including high-interest savings accounts, no-fee daily banking, and investment options. With a strong focus on digital banking, Tangerine serves customers across Canada, providing a seamless online experience that sets it apart from traditional banks. The bank has achieved significant milestones, including being one of the first to introduce no-fee banking in Canada, and has garnered a loyal customer base due to its commitment to transparency and customer service. As a subsidiary of Scotiabank, Tangerine continues to strengthen its market position, making banking accessible and straightforward for Canadians.
DitchCarbon Score
How does Tangerine Bank'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 Services Auxiliary to 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
Tangerine Bank's score of 56 is higher than 75% of the industry. This can give you a sense of how well the company is doing compared to its peers.
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Tangerine Bank, headquartered in Canada, currently does not have specific carbon emissions data available for the most recent year. The bank's climate commitments and reduction initiatives are not explicitly outlined, indicating a potential area for development in their sustainability strategy. As a current subsidiary of The Bank of Nova Scotia, Tangerine Bank's climate performance and initiatives may be influenced by its parent company's policies and targets. The emissions data and reduction targets are cascaded from The Bank of Nova Scotia, which may provide a broader context for Tangerine's environmental impact. While no specific reduction targets or achievements have been reported for Tangerine Bank, the bank's commitment to sustainability could be enhanced by aligning with industry standards and best practices. As the financial sector increasingly prioritises climate action, Tangerine Bank may benefit from establishing clear emissions reduction goals and participating in initiatives such as the Science Based Targets initiative (SBTi) to demonstrate its commitment to addressing climate change.
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Access structured emissions data, company-specific emission factors, and source documents
| 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | |
|---|---|---|---|---|---|---|---|---|---|
| Scope 1 | 13,700,000 | 00,000,000 | 00,000,000 | 00,000,000 | 00,000,000 | 00,000,000 | 00,000,000 | 00,000,000 | 00,000,000 |
| Scope 2 | 125,053,000 | 000,000,000 | 000,000,000 | 00,000,000 | 00,000,000 | 00,000,000 | 00,000,000 | 00,000,000 | 00,000,000 |
| Scope 3 | - | 00,000,000 | 00,000,000 | 00,000,000 | 0,000,000.00 | 000,000 | 00,000,000 | 00,000,000 | 00,000,000 |
How Carbon Intensive is Tangerine Bank's Industry?
How Carbon Intensive is Tangerine Bank's Location?
Tangerine Bank's Scope 3 Categories Breakdown
Tangerine Bank's Scope 3 emissions, which increased by 79% last year and increased by approximately 78% since 2017, demonstrating supply chain emissions tracking. Their carbon footprint includes suppliers and value chain emissions, with Scope 3 emissions accounting for 27% of total emissions under the GHG Protocol, with "Business Travel" being the largest emissions source at 51% of Scope 3 emissions.
Top Scope 3 Categories
Tangerine Bank'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.
Tangerine Bank 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.
