Synchrony Sustainability Profile
Synchrony Financial, commonly known as Synchrony, is a leading provider of consumer financial services headquartered in the United States. Founded in 2003, the company has established a strong presence across various operational regions, focusing primarily on retail finance, payment solutions, and consumer banking. Specialising in private label credit cards, promotional financing, and loyalty programmes, Synchrony distinguishes itself through innovative technology and strategic partnerships with major retailers. The company has achieved significant milestones, including its initial public offering in 2014, which solidified its position in the financial services industry. With a commitment to enhancing customer experiences, Synchrony has garnered recognition for its robust digital capabilities and customer-centric approach, making it a key player in the consumer finance sector.
DitchCarbon Score
How does Synchrony'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
Synchrony's score of 53 is higher than 72% of the industry. This can give you a sense of how well the company is doing compared to its peers.
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Synchrony's reported carbon emissions
In 2024, Synchrony reported total carbon emissions of approximately 29,137,000 kg CO2e, a decrease from about 34,501,000 kg CO2e in 2023. The emissions breakdown for 2024 includes 168,000 kg CO2e from Scope 1, 13,781,000 kg CO2e from Scope 2, and 15,188,000 kg CO2e from Scope 3. This indicates a significant reduction in total emissions, reflecting the company's ongoing commitment to climate action. Over the past few years, Synchrony has demonstrated a consistent approach to managing its carbon footprint. In 2023, the company’s emissions were approximately 34,501,000 kg CO2e, with Scope 1 emissions at 126,000 kg CO2e, Scope 2 at 17,606,000 kg CO2e, and Scope 3 at 16,769,000 kg CO2e. In 2022, total emissions were about 26,997,000 kg CO2e, with Scope 1 at 223,000 kg CO2e, Scope 2 at 19,435,000 kg CO2e, and Scope 3 at 7,339,000 kg CO2e. Despite these reductions, Synchrony has not publicly committed to specific science-based targets (SBTi) or other formal reduction initiatives. The company’s emissions data is not cascaded from a parent organisation, indicating that all reported figures are directly from Synchrony Financial. Overall, Synchrony is making strides in reducing its carbon emissions, aligning with industry standards for climate accountability, although further commitments and targets would enhance its sustainability profile.
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| 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | |
|---|---|---|---|---|---|---|---|
| Scope 1 | 1,751,000 | 0,000,000 | 0,000,000 | 000,000 | 000,000 | 000,000 | 000,000 |
| Scope 2 | 25,736,000 | 00,000,000 | 00,000,000 | 00,000,000 | 00,000,000 | 00,000,000 | 00,000,000 |
| Scope 3 | 12,437,000 | 00,000,000 | 0,000,000 | 0,000,000 | 0,000,000 | 00,000,000 | 00,000,000 |
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Synchrony'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.
Synchrony 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.
