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 67 is higher than 81% 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 2024, Amalgamated Financial reported total carbon emissions of approximately 4,138,261,000 kg CO2e, with significant contributions from Scope 3 emissions, which accounted for about 99% of the total. Specifically, Scope 1 emissions were about 81,000 kg CO2e, while Scope 2 emissions totalled approximately 34,522,000 kg CO2e. The previous year, 2023, saw similar trends with total emissions of approximately 4,138,261,000 kg CO2e, including about 72,000 kg CO2e from Scope 1 and approximately 34,522,000 kg CO2e from Scope 2. Amalgamated Financial has set ambitious climate commitments, aiming for a 49% reduction in total direct and indirect emissions (covering Scope 1, Scope 2, and Scope 3) by 2030, using a 2020 baseline. The organisation also targets absolute zero emissions in its direct operations, with both Scope 1 and Scope 2 emissions set to reach zero by 2030. The company’s portfolio targets cover 56% of total investment and lending activities as of 2020, aligning with the reductions necessary to limit global warming to 1.5°C. These targets are consistent with the Science Based Targets initiative (SBTi) guidelines, although Amalgamated Financial has not committed to a net-zero target as of now. Overall, Amalgamated Financial's emissions data and climate commitments reflect a proactive approach to addressing climate change within the financial sector, with a clear focus on substantial reductions in emissions across all scopes by the end of the decade.
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| 2020 | 2021 | 2022 | 2023 | 2024 | |
|---|---|---|---|---|---|
| Scope 1 | 42,700 | 00,000 | 00,000 | 00,000 | 00,000 |
| Scope 2 | 87,900 | 00,000 | 00,000 | 0,000 | - |
| Scope 3 | 768,400 | 000,000 | 00,000,000 | 0,000,000,000 | 0,000,000,000 |
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 by 0% last year and increased significantly 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 detailed category breakdown helping identify key emission sources across their value chain.
Top Scope 3 Categories
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.
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Frequently Asked Questions
Common questions about Amalgamated Financial's sustainability data and climate commitments