Us Bancorp

US Bancorp, a financial intermediation services provider headquartered in the US, reported a total of approximately 179.5 billion kg CO2e for fiscal year 2024. This figure encompasses Scope 1, 2, and 3 emissions. For the same year, Scope 1 emissions were approximately 34.0 billion kg CO2e, and Scope 2 emissions, using market-based accounting, totalled approximately 7.1 billion kg CO2e. Scope 3 emissions, as reported, included approximately 58.3 billion kg CO2e from employee commutes and 13.9 billion kg CO2e from downstream leased assets.

In fiscal year 2023, US Bancorp's total emissions were approximately 178.3 billion kg CO2e, with Scope 1 at about 36.8 billion kg CO2e and Scope 2 (market-based) at approximately 7.6 billion kg CO2e. Scope 3 emissions for 2023 included approximately 56.0 billion kg CO2e from employee commutes and 21.2 billion kg CO2e from downstream leased assets.

The company has set several climate commitments. These include a near-term target to reduce Scope 1 and 2 emissions by 40% by 2029, based on a 2014 baseline. US Bancorp also aims for a long-term reduction of 60% by 2044, also from a 2014 baseline. Notably, the company achieved its 2029 Scope 1 and 2 emissions reduction target 10 years ahead of schedule, reporting a 44% reduction by the end of 2019. Furthermore, US Bancorp has committed to achieving net-zero greenhouse gas emissions by 2050, sourcing 100% renewable electricity by 2025, and mobilising $50 billion in environmental financing by 2030. The company also participates in initiatives like the Partnership for Carbon Accounting Financials (PCAF) to measure and disclose financed emissions.