- Data quality, attribution of financial responsibility, and changing emission factors complicate the analysis of absolute emissions from client portfolios.
- Growth in the securities and PACE portfolios resulted in a reduction in portfolio coverage for financed emissions calculations.
Amalgamated Bank
Greenhouse gas emissions & sustainability report data
In its 2023 reporting, Amalgamated Bank disclosed greenhouse gas emissions of 5.5K MTCO2e (Scope 3) + 72.0 MTCO2e (Scope 1) + 675.0 MTCO2e (Scope 2 location-based) + 3.0 MTCO2e (Scope 2 market-based). By scope: Scope 1: 72.0 MTCO2e; Scope 2: 678.0 MTCO2e; Scope 3: 5.5K MTCO2e. Figures are as stated in the company's own report and may use different boundaries, units or methods (for example market-based vs location-based Scope 2), so compare with care.
GHG Emissions
5.5K MTCO2e (Scope 3) + 72.0 MTCO2e (Scope 1) + 675.0 MTCO2e (Scope 2 location-based) + 3.0 MTCO2e (Scope 2 market-based)
2023
Renewable Energy
95.9%
of total energy
Energy Use
1.9K MWh
2023
📊 Emissions by Scope (2023)
| Scope | What it covers | Reported value |
|---|---|---|
| Scope 1 | Direct emissions from sources the company owns or controls (fuel combustion, company vehicles, process and fugitive emissions). | 72.0 MTCO2e |
| Scope 2 | Indirect emissions from purchased electricity, steam, heat and cooling. | 678.0 MTCO2e |
| Scope 3 | Other indirect emissions across the value chain (purchased goods, business travel, use of sold products, etc.). | 5.5K MTCO2e |
New to scopes? Read Scope 1, 2 and 3 emissions explained and market-based vs location-based Scope 2.
📈 Emissions by Report Period
| Report period | Headline emissions figure reported |
|---|---|
| 2023 | 5.5K MTCO2e (Scope 3) + 72.0 MTCO2e (Scope 1) + 675.0 MTCO2e (Scope 2 location-based) + 3.0 MTCO2e (Scope 2 market-based) |
| 2022 | 8.3K tCO2e |
| 2021 | 28.4K tCO2e/year (Scope 1 & 2) |
| 2020 | 898.9 tCO2e |
| 2019 | 1.4K tCO2e |
Each row is the headline figure extracted from a different report; scope coverage and methodology can change between years.
✅ Reported Environmental Achievements
- Achieved 100% renewable energy use in direct operations and net-zero emissions for direct scope one and two emissions for the sixth year in a row.
- Climate solutions lending and PACE financing grew to account for nearly $2.19 billion.
🎯 Climate & Sustainability Targets
🔜 Short-term
- Reduce both Commercial Real Estate and Multifamily-financed emissions by 50% by 2030.
- Reduce Mortgage-financed emissions by 47% by 2030.
- Engage with top 25% of emitters to assess emissions and discuss reduction strategies.
📅 Medium-term
- Reach absolute zero emissions in direct operations by 2030.
- Increase solar financing activities by 217% by 2030.
🔭 Long-term
- Achieve net-zero emissions by 2045.
🌱 ESG Focus Areas
Responsible BankingEnvironmentSocialGovernance