In 2024, M&T Bank 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).
M&T Bank has also provided a category-level breakdown for 2 out of 15 Scope 3 emissions categories, offering greater transparency into its value chain emissions.
| Metric (tCO2e) | 2024 | 2023 | 2022 | 2021-2019 |
|---|---|---|---|---|
Total Scope 1 | 17,889a | 18,761a | 18,924a | |
Total Scope 2 | ||||
Location-Based | 33,728a | 41,900a | 40,426a | |
Total Scope 3 | 6,814a | 21,247,315a | 4,700a | |
Total Scope 1 Revenue Intensity (tCO2e/$M) | 1.9379a | 1.9963a | 2.3617a |
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In 2024, the total operational greenhouse gas (GHG) emissions of M&T Bank amounted to 51,617 metric 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 M&T Bank decreased by 14.91%, showing that the company has made progress in taking action to reduce the climate impact of its operations.a
In 2024, the total Scope 1 emissions of M&T Bank were 17,889 metric tons of CO₂ equivalent (tCO₂e).a
Since 2019, M&T Bank's Scope 1 emissions have decreased by 19.05%, reflecting a declining long-term trend in Scope 1 emissions over time.ab
Compared to the previous year (2023), M&T Bank's Scope 1 emissions decreased by 4.65%, highlighting the company's efforts to lower direct emissions from assets it owns or controls.a
In 2024, M&T Bank reported Scope 2 greenhouse gas (GHG) emissions of 33,728 tCO₂e using the location-based method.a
Since 2019, M&T Bank's Scope 2 greenhouse gas (GHG) emissions (Location-Based) have increased by 29.51%, reflecting a rising long-term trend in Scope 2 emissions over time.ab
Compared to the previous year (2023), M&T Bank's Scope 2 emissions (Location-Based) fell by 19.5% in 2024, showing that the company has made progress in taking action to reduce the climate impact of its energy consumption.a
In 2024, M&T Bank reported its Scope 2 emissions using the location-based method.a
In 2024, M&T Bank reported 6,814 metric tons of CO₂ equivalent (tCO₂e) of Scope 3 greenhouse gas (GHG) emissions, representing indirect emissions across its upstream and downstream value chain.a
The 2024 disclosure of M&T Bank includes a breakdown across 1 of the 15 Scope 3 categories defined by the GHG Protocol, down from 2 in 2023, indicating a decline in reporting granularity and reduced insight into the company's full value chain emissions.a
In 2024, M&T Bank reported total Scope 3 emissions of 6,814 metric tons of CO₂ equivalent (tCO₂e).a
Approximately 100% of these emissions originated from upstream activities such as purchased goods and capital goods, while 0% came from downstream activities like product use, distribution, and end-of-life treatment.a
Since 2019, M&T Bank's Scope 3 emissionshave remained relatively stable, indicating that M&T Bank's emissions have plateaued with no significant change in its value chain footprint.ab
Compared to the previous year (2023), M&T Bank's Scope 3 emissions decreased by 99.97%, highlighting the company's efforts to lower indirect emissions from its value chain.a
In 2024, M&T Bank reported emissions for 1 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.
In 2024, the largest contributors to M&T Bank's Scope 3 emissions were:a
In 2024, M&T Bank reported Scope 1 greenhouse gas (GHG) emissions of 17,889 tCO₂e and total revenues of USD 9,231 millions. This translates into an emissions intensity of 1.94 tCO₂e per millions USD.a
In 2024, M&T Bank reported a Scope 1 emissions intensity of 1.94 tCO₂e per millions USD. Compared to the peer group median of 1.31, this places the company above its industry benchmark, indicating it is less carbon-efficient than most competitors.a
In 2024, M&T Bank ranked 19 out of 24 companies in its industry peer group, based on Scope 1 emissions intensity (measured in tCO₂e per millions USD).a
M&T Bank is therefore positioned in the mid-range of its industry, neither a clear leader nor a laggard in carbon efficiency.a
In 2024, M&T Bank reported a total carbon footprint of 58,431 metric tons of CO₂ equivalent (tCO₂e) across Scope 1, Scope 2, and Scope 3 emissions. This represents a 99.73% decrease compared to 2023, indicating progress in reducing its overall greenhouse gas output.a
The largest contributor to M&T Bank's total carbon footprint was Scope 2 emissions, accounting for 57.72% of the company's total carbon footprint, followed by Scope 1 emissions at 30.62%.a