American Express

"American Express has committed to achieving net-zero emissions by 2035, in alignment with the Science Based Targets initiative (SBTi). Net Zero Tracker
An interesting fact about their environmental policy is that they achieved a reduction of energy use by 56% across their managed facilities in 2020 compared to 2011, which was their baseline year for target energy reductions. Net Zero Tracker
They have a publicly available plan detailing the steps towards their target and they report annually on their progress. Net Zero Tracker
In addition, you can check out the net-zero commitments and data for the relevant actors:"

Current Score (vs. LY)

47.5 pts (0.0)

Last Update: Dec. 12, 2023

Current Rankings

Global: #80

S&P100: #55

Financials: #13

80.0%

Transparency

Quality of climate reporting based on public disclosures, completeness and verification of GHG emissions

33.8%

Commitments

Level of ambition through gross absolute emissions reduction and 'net zero' targets

33.3%

Results

Results and actions to deliver on commitments for real

Greenhouse Gas Emissions

Last 3 Years Emissions Data Summary

Y2021Y2020Y2019
Scope 1 17,94419,62024,363
Scope 2 - location-based 80,27590,024113,964
Scope 2 - market-based 3,9762,4643,153
Scope 1-2 - location-based 98,219109,644138,327
Scope 1-2 - market-based 21,920 22,084 27,516
Scope 3 8502,081,31551,679
Total - location-based 99,0692,190,959190,006
Total - market-based 22,770 2,078,399 79,195

Note: Data sources detailed here

Y2022 Y2021
Total CO2e estimate (by Net0Tracker) 2,190,2971,719,316
Methodology Pre-calculated sector intensity (revenue)Pre-calculated sector intensity (revenue)

Carbon emissions are estimated according to comparable years, intensity and sector benchmarks

Performance vs. Target

Note: Targets without baseline are ignored. In case several targets exist, only the shorter-term target is displayed.


Value Chain (scope 3) Emissions by Category

Emissions Trajectory (Full Scopes)



Please refer to the library for viewing the supporting documentation

Despite our best efforts to report accurate data based on publicly-available information, some data may be wrong, inaccurate or outdated. If it is the case, please reach out and report the issues. Email

Sector Benchmark

Note: Latest GHG and revenue data (based on tradingview.com) are used to calculate GHG emissions intensity by sector. The color scale of each bubble depends on the GHG intensity (GHG emissions per 1 million USD revenue). Sectors follow the Global Industry Classification Standard (GICS) that organize companies based on their primary business activities. The 11 sectors are : Information Technology, Health Care, Financials, Consumer Discretionary, Communication Services, Industrials, Consumer Staples, Energy, Utilities, Real Estate, and Materials.

American Express belongs to the sector Financials.

Despite our best efforts to report accurate data based on publicly-available information, some data may be wrong, inaccurate or outdated. If it is the case, please reach out and report the issues. Email

Reduction and Net Zero Targets

>Note: intensity targets are not represented in the current version - see Methodology

Gross Absolute Emission Reductions

There is no absolute emission reduction recorded in our database. Email us to report missing information Email


Net Absolute Emission Reductions

Scope Reduction Objectives Base Year Target Year Comments
S1S2S3MKT 100.0 2011 2025 Note that all the scope 3 emissions categories are not fully covered
S1S2S3MKT 100.0 2011 2040 Note that all the scope 3 emissions categories are not fully covered

Net Zero Future Commitments

Scope Scope 3 Coverage Target Year Comments
S1S2S3LOC PARTLY 2025
S1S2S3LOC PARTLY 2040
S1S2S3MKT PARTLY 2035

Net Zero Policy

The company has a net zero policy : every year, carbon emissions will be balanced with carbon offsets, on OTHER scope emissions.


Science-based Targets (SBTI)

Date Published / Updated :01/10/2024

Near-term Long-Term Net Zero Standard
Targets Set : 1.5°C by 2033 Targets Set : 1.5°C by 2050 Yes by 2050
American Express is a member of the Business Ambition for 1.5 campaign (link here )

Overall Net-Zero Target: American Express Company commits to reach net-zero greenhouse gas emissions across the value chain by 2050. Near-Term Targets: American Express Company commits to reduce absolute scope 1 and 2 GHG emissions 60% by 2033 from 2019 base year. American Express Company also commits to reduce absolute scope 3 emissions 35% within the same timeframe.
American Express Company commits that 75% of membership rewards redemption partners and cobrand partners by emissions covering beyond the minimum boundary emissions from purchased goods and services will have science-based targets by 2028. Long-Term Targets: American Express Company commits to reduce absolute scope 1 and 2 GHG emissions 90% by 2050 from a 2019 base year. American Express Company commits to reduce absolute scope 3 GHG emissions 90% within the same timeframe.

Data source: SBTI

Despite our best efforts to report accurate data based on publicly-available information, some data may be wrong, inaccurate or outdated. If it is the case, please reach out and report the issues. Email

Offsets

Last update for American Express by zerotracker.net: Sept. 4, 2024
Planning to use external offset credits Yes
Separate targets for emission reductions and removals No
Conditions on use of offset credits
  • No conditions specified
Plans for carbon dioxide removal (CDR) Not Specified

Additional notes: On Carbon Offset (2022-2023 ESG Report, P.34): "To maintain CarbonNeutral® certified operations, we purchased 52,948 metric tons of carbon dioxide equivalent (MTCO2e) of carbon offsets in 2022, which included projects that support wind power development, reforestation, and forest conservation projects. These projects offset our emissions from Scope 1 and 2 emissions, such as fuel and steam consumption, and select categories of Scope 3 emissions, including emissions from certain activities related to colleague business travel and waste generated in our operations." "The company’s goal to remain carbon neutral covers Scope 1 (direct emissions from sources owned or controlled by American Express), Scope 2 (indirect location-based and market-based emissions), Scope 3 emissions (Category 5 waste generated in operations and Category 6 business travel) through renewable energy credits, *carbon offsets*, and reduced GHG emissions."

Data source from zerotracker.net - For more information, see methodology

Score Summary

Ref Principle Score
(points) 		Max
(points) 		Delta
(points)
1 At least 2 years of GHG emissions for scope 1 and 2 are publicly-available and externally-verified 10.0 10.0 0.0
2 Scope 3 emissions are fully reported and externally-verified 5.0 10.0 0.0
3 CDP score demonstrates the level of transparent disclosures 9.0 10.0 0.0
Transparency 24.0 30.0 0.0
4 Net Zero Commitments by 2050 include an intermediate target and cover all the emissions 6.0 10.0 0.0
5 Net Zero targets demonstrate a high-level of emergency 5.0 10.0 0.0
6 Emission reduction targets on a forward-looking basis are ambitious 0.0 10.0 0.0
7 Targets are science-based as validated by SBTi 2.5 10.0 0.0
Commitments 13.5 40.0 0.0
8 Results re. operational emissions reduction: on-pace (performance-to-date) and momentum (forward-looking targets) 0.0 10.0 0.0
9 Results re. value chain emissions reduction: on-pace (performance-to-date) and momentum (forward-looking targets) 0.0 10.0 0.0
10 Implied Temperature Rating by MSCi 10.0 10.0 0.0
Results 10.0 30.0 0.0
Total 47.5 100.0 0.0


Despite our best efforts to report accurate data based on publicly-available information, some data may be wrong, inaccurate or outdated. If it is the case, please reach out and report the issues. Email


Score Details

Criteria Results 2023 Score 2022 Score Vs. 2022 2021 Score
Criteria 1 : Transparency on operational emissions (Scope 1 + 2)
Are S1+S2 figures publicly-disclosed for the last reporting year and the preceding period? yes 5.0 / 5.0 5.0 0.0 5.0
Are S1+S2 figures verified by a 3rd-party for the last reporting year? yes 5.0/ 5.0 5.0 0.0 5.0
Criteria 2 : Transparency on value chain emissions (Scope 3)
Are the 15 categories fully or partly disclosed? partly 2.5 / 5.0 2.5 0.0 2.5
Are S3 figures fully or partly verified by a 3rd-party for the last reporting year? partly 2.5 / 5.0 2.5 0.0 2.5
Criteria 3 : Quality and Frequency of reporting
What is the latest CDP score (no later than the preceding year)? A- 9.0 / 10.0 9.0 0.0 9.0
How many interim reporting were provided between 2 reporting periods (GHG emissions only)?
Criteria 4 : Net Zero Commitments
Does the net 0 target include a statement of a generally-accepted net zero emission target by 2050? yes 3.0 / 3.0 3.0 0.0 3.0
Does the net zero target include an intermediate target by 2030? 2025 3.0 / 3.0 3.0 0.0 3.0
Does the net zero target include all the emissions? NC 0.0 / 4.0 0.0 0.0 0.0
Criteria 5 : Target year for Net Zero Commitments
Target year for achieving net zero emissions for S1+S2? Net Zero Policy 5.0 / 5.0 5.0 0.0 4.2
Target year for achieving net zero emissions for S1+S2+S3 combined? NC 0.0 / 5.0 0.0 0.0 0.0
Criteria 6 : Reduction objectives
What is the forward-looking GHG% reduction (without compensation) for scope 1+2?
0.0 / 5.0 0.0 0.0 0.0
What is the forward-looking GHG% reduction (without compensation) for scope 1+2+3?
No target found
 0.0 / 5.0 0.0 0.0 0.0
Criteria 7 : Science-Based Targets
What type of science-based target (as validated by SBTi) did the company commit to? Committed NA 2.5 / 10.0 2.5 0.0 0.0
Criteria 8 : Results based on scope 1 - 2
Performance to date: cumulative% reduction vs. target Objective (in %):
Actual (in %):
No target found
 0.0 / 5.0 0.0 0.0 0.0
Momentum: last year % reduction vs. forward-looking target Objective (in %):
Actual (in %):
No target found
 0.0 / 5.0 0.0 0.0 0.0
Criteria 9 : Results based on scope 1 - 2 - 3
Performance to date: cumulative% reduction vs. target Objective (in %):
Actual (in %):
No target found
 0.0 / 5.0 0.0 0.0 0.0
Momentum: last year % reduction vs. forward-looking target Objective (in %):
Actual (in %):
No target found
 0.0 / 5.0 0.0 0.0 0.0
Criteria 10 : Implied Temperature Rise (ITR)
Is the company aligned with global climate targets? ITR: 1.3°C 10.0 / 10.0 10.0 0.0 10.0
Total 47.5 / 100.0 47.5 0.0 44.2


Available Data Sources

Reporting Year 2021 2021 2020 2020 2019 2019 2018
Source Public Yourstake CDP Public Public CDP Public
Publication Year 2022 2022 2021 2021 2021 2020 2021
Scope 1 17,944 17,944 19,620 19,620 24,363 24,363 23,981
Scope 2 - location-based 80,275 80,275 90,024 90,024 113,964 113,964 112,745
Scope 2 - market-based 3,976 3,976 2,464 2,464 3,153 3,153 2,994
Scope 1-2 - location-based 98,219 98,219 109,644 109,644 138,327 138,327 136,726
Scope 1-2 - market-based 21,920 21,920 22,084 22,084 27,516 27,516 26,975
Scope 3 850 850 2,081,315 5,513 51,679 2,169,198 47,285
Total - location-based 99,069 99,069 2,190,959 115,157 190,006 2,307,525 184,011
Total - market-based 22,770 22,770 2,078,399 27,597 79,195 2,166,409 74,260

Sources

Please refer to the library for viewing the supporting documentation

Despite our best efforts to report accurate data based on publicly-available information, some data may be wrong, inaccurate or outdated. If it is the case, please reach out and report the issues. Email

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