Unity Bancorp, Inc.
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 61% 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, reflecting a commitment to lowering their carbon footprint. Despite these reductions, Unity Bancorp, Inc. has not set specific reduction targets or initiatives, nor do they participate in recognised climate pledges such as the Science Based Targets initiative (SBTi). The absence of formal reduction commitments suggests a need for further action in aligning with industry standards for climate accountability. Overall, while Unity Bancorp, Inc. has made progress in reducing emissions, particularly in Scope 1, the lack of structured reduction targets highlights an area for potential improvement in their climate strategy.
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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 |
Industry emissions intensity
Location emissions intensity
Reduction initiatives & disclosure networks
Companies disclose and commit to reducing emissions to show they are serious about reducing emissions impact over time. They can also help a company track its progress over time.
Unity Bancorp, Inc. is not participating in any of the initiatives that we track. This may change over time as the company engages with new initiatives or updates its commitments. DitchCarbon will update this information as it becomes available.
