Union Bankshares, Inc. Sustainability Profile
Union Bankshares, Inc., often referred to as Union Bank, is a prominent financial institution headquartered in the United States. Established in 1891, the bank has a rich history of serving communities across key operational regions, including the Northeast and Mid-Atlantic. As a leader in the banking industry, Union Bank focuses on providing a comprehensive range of services, including personal and commercial banking, wealth management, and mortgage solutions. What sets Union Bank apart is its commitment to personalised customer service and innovative financial products tailored to meet the diverse needs of its clients. With a strong market position, the bank has achieved notable milestones, including consistent growth and recognition for its community involvement. Union Bank continues to uphold its legacy of trust and reliability, making it a preferred choice for individuals and businesses alike.
DitchCarbon Score
How does Union Bankshares, Inc.'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
Union Bankshares, Inc.'s score of 34 is higher than 54% of the industry. This can give you a sense of how well the company is doing compared to its peers.
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Union Bankshares, Inc.'s reported carbon emissions
In 2023, Union Bankshares, Inc. reported total carbon emissions of approximately 14,164,870 kg CO2e. This figure includes 657,270 kg CO2e from Scope 1 emissions and 13,507,600 kg CO2e from Scope 2 emissions. The bank's emissions have decreased from 18,765,410 kg CO2e in 2022, indicating a significant reduction in their carbon footprint. Union Bankshares has not disclosed any Scope 3 emissions data, which limits the understanding of their full environmental impact. However, the bank has not set specific reduction targets or initiatives under the Science Based Targets initiative (SBTi) or other climate pledges, suggesting a need for more robust climate commitments. The emissions data reflects a commitment to transparency, with the bank providing detailed reports on their emissions performance. The reduction in total emissions from 2022 to 2023 demonstrates a positive trend towards sustainability, although further efforts are necessary to establish comprehensive climate strategies and targets.
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| 2015 | 2016 | 2017 | 2018 | 2019 | 2021 | 2022 | 2023 | |
|---|---|---|---|---|---|---|---|---|
| Scope 1 | 28,000 | 00,000 | 00,000 | 00,000 | 00,000 | 0,000,000 | 000,000 | 000,000 |
| Scope 2 | 7,504,000 | 0,000,000 | 0,000,000 | 0,000,000 | 0,000,000 | 00,000,000 | 00,000,000 | 00,000,000 |
| Scope 3 | 4,048,000 | 0,000,000 | 0,000,000 | 0,000,000 | 0,000,000 | - | - | - |
How Carbon Intensive is Union Bankshares, Inc.'s Industry?
How Carbon Intensive is Union Bankshares, Inc.'s Location?
Union Bankshares, Inc.'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.
Union Bankshares, Inc. 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.
