Amalgamated Financial Sustainability Profile
Amalgamated Financial, often referred to as Amalgamated Bank, is a prominent financial institution headquartered in the United States, with significant operations across major urban centres. Founded in 1923, the bank has established itself within the banking and financial services industry, focusing on socially responsible banking solutions. Amalgamated Financial offers a range of core products and services, including commercial banking, personal banking, and investment services, distinguished by its commitment to ethical practices and community engagement. The bank's unique approach to finance, prioritising sustainability and social impact, has positioned it as a leader in the sector. With a strong market presence, Amalgamated Financial has achieved notable milestones, including recognition for its dedication to progressive banking. Its innovative solutions and customer-centric philosophy continue to set it apart in a competitive landscape.
DitchCarbon Score
How does Amalgamated Financial'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
Amalgamated Financial's score of 37 is higher than 58% of the industry. This can give you a sense of how well the company is doing compared to its peers.
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Amalgamated Financial's reported carbon emissions
In 2022, Amalgamated Financial reported total carbon emissions of approximately 7,839,600 kg CO2e. This figure includes Scope 1 emissions of about 86,900 kg CO2e, Scope 2 emissions of approximately 35,200 kg CO2e (market-based), and a significant 7,773,9600 kg CO2e from Scope 3 emissions. The Scope 3 emissions breakdown reveals major contributions from purchased goods and services (about 6,501,600 kg CO2e) and business travel (approximately 217,000 kg CO2e). Amalgamated Financial has set near-term targets aligned with the Science Based Targets initiative (SBTi), aiming for reductions consistent with limiting global warming to 1.5°C. These targets cover 56% of the total investment and lending activities as of 2020. The company has not committed to a net-zero target as of now. The emissions data is sourced directly from Amalgamated Financial Corp., with no cascaded data from parent organizations. The company continues to focus on enhancing its climate commitments and reducing its carbon footprint across all scopes of emissions.
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| 2020 | 2021 | 2022 | |
|---|---|---|---|
| Scope 1 | 42,700 | 00,000 | 00,000 |
| Scope 2 | 87,900 | 00,000 | 00,000 |
| Scope 3 | 768,400 | 000,000 | 0,000,000 |
How Carbon Intensive is Amalgamated Financial's Industry?
How Carbon Intensive is Amalgamated Financial's Location?
Amalgamated Financial's Scope 3 Categories Breakdown
Amalgamated Financial's Scope 3 emissions, which increased significantly last year and increased by approximately 907% since 2020, demonstrating supply chain emissions tracking. Nearly all of their carbon footprint comes from suppliers and value chain emissions, representing nearly all emissions under the GHG Protocol, with "Purchased Goods and Services" being the largest emissions source at 84% of Scope 3 emissions.
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Amalgamated Financial'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.
Amalgamated Financial has established climate goals through participation in recognized frameworks and target-setting initiatives. Companies often set interim 2030 targets and long-term 2050 net-zero goals to demonstrate measurable progress toward decarbonization.
