Capital One

Capital One reported total emissions of approximately 529,354,000 kg CO2e in 2023. This includes Scope 1 emissions of 8,610,000 kg CO2e, Scope 2 market-based emissions of 2,585,000 kg CO2e (or 77,782,000 kg CO2e location-based), and Scope 3 emissions of 518,159,000 kg CO2e. Key contributors to Scope 3 emissions were purchased goods and services (429,310,000 kg CO2e), upstream transportation and distribution (37,426,000 kg CO2e), and employee commuting (21,037,000 kg CO2e).

Capital One has committed to several climate targets:

• Near-term Target: Reduce Scope 1 direct emissions by 50% by 2030, from a 2019 baseline.
• Carbon Neutrality Goal: Achieve carbon neutrality for Scope 1 direct, Scope 2 indirect, and Scope 3 emissions by 2025. The company also had a year-over-year goal to be carbon neutral for Scope 1 and Scope 2 (market-based) emissions, with the majority of 2017 Scope 2 emissions neutralised through Renewable Energy Certificate (REC) purchases.

Historically, Capital One achieved its original five-year absolute GHG reduction target of 10% (from a 2008 baseline) a year early, achieving an 18% reduction by 2012. Following acquisitions in 2012, a new absolute GHG reduction goal of 25% by 2020 was established.