- Increased frequency and severity of weather-related events (wildfires, floods)
- Rapid economic shifts due to the global transition to net zero
- Uncertainty about the extent of climate disruptions and the emergence of effective technologies
- Challenges in accessing timely and accurate building-level energy use data
- Limited data availability for SMEs regarding emissions measurement
- High upfront costs and navigation of rebates for energy-efficient retrofits
Vancity
Greenhouse gas emissions & sustainability report data
In its 2023 reporting, Vancity disclosed greenhouse gas emissions of 244.4K tCO2e/year (estimated). By scope: Scope 1: 481 tCO2e/year; Scope 2: 102 tCO2e/year; Scope 3: 243.8K tCO2e/year (estimated). 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
244.4K tCO2e/year (estimated)
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). | 481 tCO2e/year |
| Scope 2 | Indirect emissions from purchased electricity, steam, heat and cooling. | 102 tCO2e/year |
| Scope 3 | Other indirect emissions across the value chain (purchased goods, business travel, use of sold products, etc.). | 243.8K tCO2e/year (estimated) |
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 | 244.4K tCO2e/year (estimated) |
| 2022 | 156.0K tCO2e/year (total including operational and financed) |
Each row is the headline figure extracted from a different report; scope coverage and methodology can change between years.
✅ Reported Environmental Achievements
- Reduced operational greenhouse gas emissions by 52% from the 2019 baseline (2,112 tonnes CO2e in 2023)
- $-21% emissions from commercial service buildings
- +13% emissions from residential buildings (due to loan growth and building area increase)
- $14.4 million worth of new Planet-Wise™ loans and commercial retrofits
- 729,635 ft2 of energy-efficient buildings financed
- Approximately 6,654 tonnes of CO2e avoided emissions from clean energy projects
🎯 Climate & Sustainability Targets
🔜 Short-term
- 17% reduction in absolute financed emissions for residential buildings by 2025 (from 2019 baseline)
- 27% reduction in absolute financed emissions for commercial service buildings by 2025 (from 2019 baseline)
- 90% of assets under management in material sectors will be net zero, aligned, aligning or subject to engagement by 2030
- 75% of financed emissions generated by portfolio companies in material sectors will be aligned with net zero or subject to engagement by 2025
📅 Medium-term
- Increase average member financial confidence score from 7.4 to 8.0 by 2030
- 100% net zero, aligned or aligning for assets under management by 2040
- 90% of financed emissions associated with Vancity Investment Management funds in material sectors will be net zero, aligned or aligning, or subject to engagement by 2030
🔭 Long-term
- Net zero by 2040 across mortgages and loans
- Net zero by 2050 across investment portfolios managed by Vancity Investment Management
🌱 ESG Focus Areas
Climate ChangeFinancial InclusionReconciliationAnti-racism and Equity