Amalgamated Financial
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 63% 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 7,840,700 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 contribution from Scope 3 emissions, which totalled around 7,773,600 kg CO2e. Notably, the largest portion of these emissions came from purchased goods and services, accounting for about 6,501,600 kg CO2e. Amalgamated Financial has set near-term targets aligned with the Science Based Targets initiative (SBTi) to reduce greenhouse gas emissions from its operations (Scopes 1 and 2) in line with the goal of limiting global warming to 1.5°C. These targets cover approximately 56% of the bank's total investment and lending activities as of 2020. The bank has not committed to a net-zero target as of now, but its current initiatives reflect a commitment to significant emissions reductions by 2030. Overall, Amalgamated Financial's climate commitments demonstrate a proactive approach to managing its carbon footprint within the financial sector, focusing on both operational emissions and the broader impact of its investment portfolio.
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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 |
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.
Amalgamated Financial is participating in some 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.
