Unity Bancorp, Inc. Sustainability Profile
Unity Bancorp, Inc., commonly known as Unity Bank, is a prominent financial institution headquartered in the United States. Established in 1991, the bank has grown to serve various regions, primarily focusing on New Jersey and Pennsylvania. Operating within the banking industry, Unity Bank offers a range of services, including personal and business banking, loans, and investment solutions, distinguished by its commitment to customer service and community engagement. Unity Bank has achieved notable milestones, including consistent growth in assets and a strong market presence. Its core products, such as competitive mortgage options and tailored business solutions, set it apart in a crowded marketplace. With a focus on innovation and customer satisfaction, Unity Bancorp, Inc. continues to solidify its position as a trusted financial partner in the communities it serves.
DitchCarbon Score
How does Unity Bancorp, 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
Unity Bancorp, Inc.'s score of 36 is higher than 56% of the industry. This can give you a sense of how well the company is doing compared to its peers.
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Unity Bancorp, Inc.'s reported carbon emissions
In 2023, Unity Bancorp, Inc. reported total carbon emissions of approximately 3,000,000 kg CO2e, comprising 2,349,000 kg CO2e from Scope 1, 162,000 kg CO2e from Scope 2, and 952,000 kg CO2e from Scope 3 emissions. Notably, the Scope 3 emissions included significant contributions from investments (1,114,000 kg CO2e) and business travel (904,000 kg CO2e). Comparatively, in 2022, the company’s emissions were significantly higher, with Scope 1 emissions alone reaching 693,636,000 kg CO2e, while Scope 2 emissions were 127,000 kg CO2e, and no Scope 3 emissions were reported. This indicates a substantial reduction in Scope 1 emissions in 2023. Despite these figures, Unity Bancorp, Inc. has not established specific reduction targets or initiatives, as indicated by the absence of documented reduction targets or commitments to frameworks such as the Science Based Targets initiative (SBTi). The company’s climate strategy appears to be in its early stages, with no formal climate pledges or initiatives reported. Overall, while Unity Bancorp, Inc. has made progress in reducing its emissions, particularly in Scope 1, the lack of formal reduction commitments suggests an opportunity for further climate action and accountability in the future.
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| 2019 | 2020 | 2021 | 2022 | 2023 | |
|---|---|---|---|---|---|
| Scope 1 | 535,838,000 | 000,000,000 | 000,000,000 | 000,000,000 | 0,000,000 |
| Scope 2 | 149,000 | 000,000 | 000,000 | 000,000 | 000,000 |
| Scope 3 | - | - | - | - | 000,000 |
How Carbon Intensive is Unity Bancorp, Inc.'s Industry?
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Unity Bancorp, Inc.'s Scope 3 Categories Breakdown
Their carbon footprint includes suppliers and value chain emissions, with Scope 3 emissions accounting for 27% of total emissions under the GHG Protocol, with "Investments" being the largest emissions source at 117% of Scope 3 emissions.
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Unity Bancorp, 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.
Unity Bancorp, 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.
