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Citizens Financial Group Inc
Citizens Financial Group's GHG Emissions Data Preview
In 2024, Citizens Financial Group completed a corporate carbon footprint assessment and publicly disclosed its greenhouse gas (GHG) emissions according to the GHG Protocol, covering Scope 1 (direct emissions from owned or controlled sources), Scope 2 (indirect emissions from purchased energy) and Scope 3 (indirect emissions across the value chain).
Citizens Financial Group has also provided a category-level breakdown for 5 out of 15 Scope 3 emissions categories, offering greater transparency into its value chain emissions.
| Metric (tCO2e) | 2024 | 2023 | 2022 | 2021 - 2017 |
|---|---|---|---|---|
Total Scope 1 | Copy restricted. Please purchase to unlock this data.  a | Copy restricted. Please purchase to unlock this data.  a | Copy restricted. Please purchase to unlock this data.  b | 0000000 |
Total Scope 2 | ||||
Market-Based | Copy restricted. Please purchase to unlock this data.  a | Copy restricted. Please purchase to unlock this data.  a | Copy restricted. Please purchase to unlock this data.  b | 0000000 |
Location-Based | Copy restricted. Please purchase to unlock this data.  a | Copy restricted. Please purchase to unlock this data.  a | Copy restricted. Please purchase to unlock this data.  b | 0000000 |
Total Scope 3 | Copy restricted. Please purchase to unlock this data.  a | Copy restricted. Please purchase to unlock this data.  a | Copy restricted. Please purchase to unlock this data.  b | 0000000 |
Total Scope 1 Revenue Intensity (tCO2e/$M) | Copy restricted. Please purchase to unlock this data.  a | Copy restricted. Please purchase to unlock this data.  a | Copy restricted. Please purchase to unlock this data.  b | 0000000 |
a
aVerified Sources Behind Citizens Financial Group’s Greenhouse Gas (GHG) Emissions Data
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Insights into Citizens Financial Group's Operational Emissions
In 2024, the total operational greenhouse gas (GHG) emissions ofCitizens Financial Group amounted to38,395metric tons of CO2 equivalent.This figure includes both direct emissions from owned or controlled sources (Scope 1) and indirect emissions from purchased energy (Scope 2).a
Compared to 2023, the total operational greenhouse gas (GHG) emissions of Citizens Financial Groupdecreased by 7.59%, showing that the company has made progress in taking action to reduce the climate impact of its operations.a
Citizens Financial Group's Scope 1 Emissions Over Time
- Total Scope 1
- Year-over-Year Change
What are Citizens Financial Group's Scope 1 emissions?
In 2024, the total Scope 1 emissions of Citizens Financial Group were 9,552 metric tons of COâ‚‚ equivalent (tCOâ‚‚e).a
Has Citizens Financial Group reduced its Scope 1 emissions over time?
Since 2019, Citizens Financial Group's Scope 1 emissions have decreased by 22.3%, reflecting a declining long-term trend in Scope 1 emissions over time.ac
Compared to the previous year(2023), Citizens Financial Group's Scope 1 emissions increased by 8.98%, suggesting that the company faced challenges in reducing emissions from its directly owned or controlled operations.a
What are Citizens Financial Group's Scope 2 emissions?
In 2024, Citizens Financial Group reported Scope 2 greenhouse gas (GHG) emissions of 29,509 tCOâ‚‚e using the market-based method and 28,843 tCOâ‚‚e using the location-based method.a
Has Citizens Financial Group reduced its Scope 2 emissions over time?
Since 2019, Citizens Financial Group's Scope 2 greenhouse gas (GHG) emissions (Location-Based)have decreased by 22.07%, reflecting a declining long-term trend in Scope 2 emissions over time.ac
Compared to the previous year(2023), Citizens Financial Group's Scope 2 emissions(Location-Based) fell by 12.02% in 2024, showing that the company has made progress in taking action to reduce the climate impact of its energy consumption.a
What methodology does Citizens Financial Group use for Scope 2 reporting?
In 2024, Citizens Financial Group reported its Scope 2 emissions using the market-based method and using the location-based method.a
Citizens Financial Group's Scope 2 Emissions Over Time
- Total Scope 2 Location-Based
- Total Scope 2 Market-Based
Insights into Citizens Financial Group's Value Chain Emissions
In 2024, Citizens Financial Group reported 24,218,978 metric tons of COâ‚‚ equivalent (tCOâ‚‚e) of Scope 3 greenhouse gas (GHG) emissions, representing indirect emissions across its upstream and downstream value chain.a
The 2024 disclosure of Citizens Financial Group includes a breakdown across 2of the 15 Scope 3 categories defined by the GHG Protocol,up from 1 in 2023, reflecting improved emissions accounting practices and greater transparency across the company's value chaina
Citizens Financial Group's Scope 3 Emissions Over Time
- Total Scope 3
- Year-over-Year Change
What are Citizens Financial Group's Scope 3 emissions?
In 2024, Citizens Financial Group reported total Scope 3 emissions of 24,218,978 metric tons of COâ‚‚ equivalent (tCOâ‚‚e).a
Approximately 0.02%of these emissions originated from upstream activities such as purchased goods and capital goods, while 99.98%came from downstream activities like product use, distribution, and end-of-life treatment.a
Has Citizens Financial Group reduced its Scope 3 emissions over time?
Since 2019, Citizens Financial Group's Scope 3 emissionshave increased by 29,499.95%, reflecting a rising long-term trend in Scope 3 emissions over time.ac
Compared to the previous year (2023), Citizens Financial Group's Scope 3 emissions increased by 553,223.69%, suggesting that the company faced challenges in reducing emissions across its value chain.a
What categories of Scope 3 emissions does Citizens Financial Group disclose?
In 2024, Citizens Financial Group reported emissions for 2 out of the 15 Scope 3 categories defined by the GHG Protocol.a
The limited disclosure restricts visibility into specific emission sources across the company's value chain.
What are the main sources of Citizens Financial Group's Scope 3 emissions?
In 2024, the largest contributors to Citizens Financial Group's Scope 3 emissions were:a
- Investments (Cat. 15): 24,215,186 tCOâ‚‚e(99.98%)
- Business Travel (Cat. 6): 3,792 tCOâ‚‚e(0.02%)
Citizens Financial Group's Scope 3 Emissions by Categories
Insights into Citizens Financial Group’s GHG Emissions Intensity Compared to Industry Peers
In 2024, Citizens Financial Group reported Scope 1 greenhouse gas (GHG) emissions of 9,552 tCOâ‚‚e and total revenues of USD 7,794 millions. This translates into an emissions intensity of 1.23 tCOâ‚‚e per millions USD.a
Citizens Financial Group's Scope 1 Emissions Intensity Compared to Peers
How does Citizens Financial Group's GHG emissions intensity compare to its peers?
In 2024, Citizens Financial Group reported a Scope 1 emissions intensity of 1.23 tCOâ‚‚e per millions USD. Compared to the peer group median of 1.31, this places the company below its industry benchmark, indicating it is more carbon-efficient than most competitors.a
Where does Citizens Financial Group rank on GHG emissions intensity within its industry?
In 2024, Citizens Financial Group ranked 11 out of 24 companies in its industry peer group, based on Scope 1 emissions intensity (measured in tCOâ‚‚e per millions USD).a
Citizens Financial Group is therefore positioned in the mid-range of its industry, neither a clear leader nor a laggard in carbon efficiency.a
Insights into Citizens Financial Group's Total Carbon Footprint
In 2024, Citizens Financial Group reported a total carbon footprint of 24,257,373 metric tons of COâ‚‚ equivalent (tCOâ‚‚e) across Scope 1, Scope 2, and Scope 3 emissions. This represents a 52,719.54% increase compared to 2023, suggesting a rise in emissions across its operations or value chain.a
The largest contributor to Citizens Financial Group's total carbon footprint was Scope 3 emissions, accounting for 99.84% of the company's total carbon footprint, followed by Scope 2 emissions at 0.12%.a