Capital One has set greenhouse gas (GHG) reduction goals for over a decade and we are currently on our fourth generation goal.
Transitioning away from carbon intensive sources in favor of renewable energy is essential to addressing climate change. We began purchasing renewable energy in 2008 and, in 2017, met our goal–100% of our electricity comes from renewable sources.
In 2018, we became a member of RE100, a collaborative initiative of global companies committed to 100% renewable electricity. We installed our first on-site solar project that same year in Richmond, VA.
Capital One set an internal price on carbon starting at $15.00 per metric ton of CO2e. This carbon fee creates a monetary value on each ton of carbon emissions in our carbon footprint, helping us to reduce emissions while establishing a dedicated revenue stream to fund our carbon reduction efforts and sustainability initiatives.