Changing banking for good

Reducing greenhouse gas emissions

Our commitment to decarbonizing our atmosphere.

Types of emissions

Scope 1: All Direct Emissions

This is everything we control, including fuel combustion on site from gas boilers, fleet vehicles and air-conditioning leaks.

Scope 2: Indirect Emissions

Purchased electricity is indirect. Emissions are created during the production of the energy and eventually used.

Scope 3: All Other Indirect Emissions

Emissions we can influence but don’t control, such as those associated with business travel, procurement, waste and water.

Reducing our emissions

By 2030, Capital One is committed to:

  • Reducing Scope 1 Direct Emissions by 50%
  • Continuing to purchase 100% Renewable Energy while increasing location-aligned procurement by 50% in the markets where we operate
  • Reducing Scope 3 Emissions (Categories 1-14) by 50%

Learning from the experts

Goals guided by science

Our greenhouse gas reduction commitments were developed by leveraging industry recognized tools to keep the world below 2°C temperature rise. Our goals will continue to evolve in line with the most recent climate science and industry best practices.

From neutral to removal

Rethinking carbon neutrality

Capital One has set greenhouse gas (GHG) reduction goals for over a decade and in 2018 and 2019, we achieved carbon neutrality for our Scope 1 and Scope 2 emissions, as well as Scope 3 business travel emissions. However, this was done through carbon offsets.

We recognize that for the world to achieve net zero emissions by 2050 we must implement decarbonization strategies through real business change and innovations and only offset what is impossible to eliminate. At this time we will no longer use carbon offsets to achieve our company GHG reduction targets and will no longer claim to be carbon neutral.