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, which comprised 795,770 kg CO2e in Scope 1 and 17,969,640 kg CO2e in Scope 2. In 2021, the total emissions were about 12,735,440 kg CO2e, with Scope 1 emissions at 1,285,860 kg CO2e and Scope 2 emissions at 11,449,580 kg CO2e. Despite these reductions, Union Bankshares has not set specific science-based targets (SBTi) or documented climate pledges. The absence of Scope 3 emissions data indicates a potential area for future reporting and improvement. The bank's commitment to reducing its carbon footprint aligns with industry standards, but further initiatives and targets would enhance its climate strategy.
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| 2021 | 2022 | 2023 | |
|---|---|---|---|
| Scope 1 | 1,285,860 | 000,000 | 000,000 |
| Scope 2 | 11,449,580 | 00,000,000 | 00,000,000 |
| Scope 3 | - | - | - |
How Carbon Intensive is Union Bankshares, Inc.'s Industry?
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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.
