Vancity Community Investment Bank Sustainability Profile
Vancity Community Investment Bank (VCIB), headquartered in Canada, is a pioneering institution in the community investment banking sector. Established in 2017, VCIB focuses on providing innovative financial solutions that drive social and environmental impact. With a strong presence across major Canadian regions, the bank is dedicated to supporting businesses and projects that prioritise sustainability and community well-being. VCIB offers a range of unique products and services, including tailored financing options for social enterprises and impact-driven organisations. Its commitment to responsible banking sets it apart in the industry, positioning VCIB as a leader in promoting ethical investment practices. Notable achievements include its role in financing projects that contribute to affordable housing and renewable energy initiatives, reinforcing its mission to create positive change in communities across Canada.
DitchCarbon Score
How does Vancity Community Investment Bank'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
Vancity Community Investment Bank's score of 28 is higher than 51% of the industry. This can give you a sense of how well the company is doing compared to its peers.
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Vancity Community Investment Bank, headquartered in Canada, currently does not report specific carbon emissions data for the most recent year, as indicated by the absence of emissions figures. The bank is a current subsidiary of Vancouver City Savings Credit Union, which may influence its sustainability practices and commitments. Despite the lack of specific emissions data, Vancity Community Investment Bank is committed to addressing climate change through various initiatives. However, there are no documented reduction targets or climate pledges available at this time. The absence of specific targets may suggest that the bank is in the early stages of developing a comprehensive climate strategy. As a subsidiary, Vancity may align its climate commitments with those of its parent organization, Vancouver City Savings Credit Union, which could include broader sustainability goals and initiatives. However, without explicit data or targets, the specifics of these commitments remain unclear. In summary, while Vancity Community Investment Bank is positioned within a corporate family that may have sustainability initiatives, it currently lacks detailed emissions data and defined climate commitments.
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| 2010 | 2016 | 2017 | 2018 | 2019 | 2020 | |
|---|---|---|---|---|---|---|
| Scope 1 | 1,058,000 | - | - | - | - | - |
| Scope 2 | 385,000 | - | - | - | - | - |
| Scope 3 | 3,340,000 | 000,000 | 000,000 | 000,000 | 000,000 | 000,000 |
How Carbon Intensive is Vancity Community Investment Bank's Industry?
How Carbon Intensive is Vancity Community Investment Bank's Location?
Vancity Community Investment Bank's Scope 3 Categories Breakdown
Vancity Community Investment Bank's Scope 3 emissions, which decreased by 64% last year and decreased by approximately 92% since 2010, demonstrating supply chain emissions tracking. Most of their carbon footprint comes from suppliers and value chain emissions, with Scope 3 emissions accounting for 70% of total emissions under the GHG Protocol, with "Business Travel" representing nearly all of their reported Scope 3 footprint.
Top Scope 3 Categories
Vancity Community Investment Bank'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.
Vancity Community Investment Bank 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.
