U.S. Bancorp. Sustainability Profile
U.S. Bancorp, the parent company of U.S. Bank, is a leading financial services provider headquartered in Minneapolis, Minnesota. Founded in 1863, it has established a strong presence across the United States, particularly in the Midwest and West regions. Operating within the banking industry, U.S. Bancorp offers a diverse range of services, including personal and commercial banking, wealth management, and payment solutions. Renowned for its commitment to innovation, U.S. Bancorp has achieved significant milestones, such as being one of the first banks to adopt mobile banking technology. Its core products, including credit cards and mortgage services, are distinguished by their customer-centric approach and robust security features. As one of the largest banks in the U.S., U.S. Bancorp consistently ranks highly in customer satisfaction and financial stability, solidifying its position as a trusted leader in the financial sector.
DitchCarbon Score
How does U.S. Bancorp.'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
U.S. Bancorp.'s score of 48 is higher than 69% of the industry. This can give you a sense of how well the company is doing compared to its peers.
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U.S. Bancorp.'s reported carbon emissions
In 2023, U.S. Bancorp reported total carbon emissions of approximately 178,331,000 kg CO2e. This figure includes Scope 1 emissions of about 36,798,000 kg CO2e, Scope 2 emissions of approximately 7,584,000 kg CO2e (market-based), and significant Scope 3 emissions, which encompass business travel (about 38,426,000 kg CO2e), employee commuting (approximately 56,028,000 kg CO2e), downstream leased assets (around 21,203,000 kg CO2e), and waste generated in operations (about 18,293,000 kg CO2e). Comparatively, in 2022, the total emissions were approximately 156,194,000 kg CO2e, indicating a rise in emissions year-on-year. The company has set ambitious climate commitments, aiming for net zero greenhouse gas emissions by 2051. Additionally, U.S. Bancorp has committed to a 40% reduction in Scope 1 and Scope 2 emissions by 2029, using a 2014 baseline, and a 60% reduction in these scopes by 2044. These targets are part of a broader Net Zero Transition Plan initiated in 2023, which outlines strategic initiatives to support the company's long-term climate goals. The emissions data reported is cascaded from U.S. Bancorp, reflecting its corporate family relationship.
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| 2014 | 2015 | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Scope 1 | 60,412,000 | 00,000,000 | 00,000,000 | 00,000,000 | 00,000,000 | 00,000,000 | 00,000,000 | 00,000,000 | 00,000,000 | 00,000,000 |
| Scope 2 | 354,799,000 | 000,000,000 | 000,000,000 | 000,000,000 | 000,000,000 | 000,000,000 | 000,000,000 | 00,000,000 | 0,000,000 | 0,000,000 |
| Scope 3 | 114,415,000 | 000,000,000 | 00,000,000 | 00,000,000 | 00,000,000 | 000,000,000 | 00,000,000 | 00,000,000 | 000,000,000 | 000,000,000 |
How Carbon Intensive is U.S. Bancorp.'s Industry?
How Carbon Intensive is U.S. Bancorp.'s Location?
U.S. Bancorp.'s Scope 3 Categories Breakdown
U.S. Bancorp.'s Scope 3 emissions, which increased by 24% last year and increased by approximately 17% since 2014, demonstrating supply chain emissions tracking. Most of their carbon footprint comes from suppliers and value chain emissions, with Scope 3 emissions accounting for 75% of total emissions under the GHG Protocol, with "Employee Commuting" being the largest emissions source at 42% of Scope 3 emissions.
Top Scope 3 Categories
U.S. Bancorp.'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.
U.S. Bancorp. 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.
