US Bancorp

"The net zero target of U.S. Bancorp is to achieve net zero greenhouse gas emissions by 2050. Net Zero Tracker
This goal includes Scope 1, Scope 2, and Scope 3 emissions that they currently report, as well as financed emissions. Net Zero Tracker
The company has set interim targets of reducing emissions by 40% by 2029 and 60% by 2044, relative to 2014 emissions. Net Zero Tracker
An interesting fact about their environmental policy is that they reached their 2029 target of a 40% reduction 10 years early, having reduced their emissions by 44% as of year-end 2019. Net Zero …"

Current Score (vs. LY)

49.0 pts (2.5)

Last Update: Dec. 12, 2023

Current Rankings

Global: #76

S&P100: #52

Financials: #12

80.0%

Transparency

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

25.0%

Commitments

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

50.0%

Results

Results and actions to deliver on commitments for real

Greenhouse Gas Emissions

Last 3 Years Emissions Data Summary

Y2021Y2020Y2019
Scope 1 41,33541,46148,639
Scope 2 - location-based 191,919212,620255,929
Scope 2 - market-based 97,538151,677176,447
Scope 1-2 - location-based 233,254254,081304,568
Scope 1-2 - market-based 138,873 193,138 225,086
Scope 3 82,79883,4840
Total - location-based 316,052337,565304,568
Total - market-based 221,671 276,622 225,086

Note: Data sources detailed here

Y2022 Y2021
Total CO2e estimate (by Net0Tracker) 1,079,003857,689
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our best efforts to report accurate data based on publicly-available information, some data may be wrong, inaccurate or outdated.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.

US Bancorp 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

Scope Reduction Objectives Base Year Target Year Comments
S1S2MKT 40.0 2014 2029
S1S2MKT 60.0 2014 2044

Net Absolute Emission Reductions

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


Net Zero Future Commitments

Scope Scope 3 Coverage Target Year Comments
S1S2S3MKT FULL 2050

Science-based Targets (SBTI)

There is no Science-Based target recorded in our database. Email us to report missing information Email

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 U.S. Bancorp by zerotracker.net: Sept. 4, 2024
Planning to use external offset credits Not Specified
Separate targets for emission reductions and removals No
Conditions on use of offset credits None
Plans for carbon dioxide removal (CDR) Not Specified

Additional notes: Carbon removals: 'Do you intend to neutralize any unabated emissions with permanent carbon removals at the target year? Unsure' (p. 17 CDP Report)

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 10.0 10.0 0.0
5 Net Zero targets demonstrate a high-level of emergency 0.0 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 0.0 10.0 0.0
Commitments 10.0 40.0 0.0
8 Results re. operational emissions reduction: on-pace (performance-to-date) and momentum (forward-looking targets) 5.0 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 2.5
Results 15.0 30.0 2.5
Total 49.0 100.0 2.5


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 0.0
Does the net zero target include an intermediate target by 2030? 2029 3.0 / 3.0 3.0 0.0 3.0
Does the net zero target include all the emissions? yes 4.0 / 4.0 4.0 0.0 0.0
Criteria 5 : Target year for Net Zero Commitments
Target year for achieving net zero emissions for S1+S2? 2050 0.0 / 5.0 0.0 0.0 0.0
Target year for achieving net zero emissions for S1+S2+S3 combined? 2050 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? -9.9
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? NC 0.0 / 10.0 0.0 0.0 0.0
Criteria 8 : Results based on scope 1 - 2
Performance to date: cumulative% reduction vs. target Objective (in %): 18.7
Actual (in %): 66.6
5.0 / 5.0 5.0 0.0 5.0
Momentum: last year % reduction vs. forward-looking target Objective (in %):
Actual (in %):
Forward-looking reduction could not be calculated
 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: 1.4°C 10.0 / 10.0 7.5 2.5 7.5
Total 49.0 / 100.0 46.5 2.5 39.5


Available Data Sources

Reporting Year 2021 2021 2020 2019 2019 2019 2018 2018
Source CDP Yourstake CDP CDP CDP Public Public CDP
Publication Year 2021 unknown 2021 2021 2020 2021 2021 2020
Scope 1 41,335 41,335 41,461 48,639 56,482 56,482 61,179 61,179
Scope 2 - location-based 191,919 191,919 212,620 255,929 255,929 255,929 280,854 280,854
Scope 2 - market-based 97,538 97,538 151,677 176,447 176,447 176,447 225,412 225,412
Scope 1-2 - location-based 233,254 233,254 254,081 304,568 312,411 312,411 342,033 342,033
Scope 1-2 - market-based 138,873 138,873 193,138 225,086 232,929 232,929 286,591 286,591
Scope 3 82,798 82,798 83,484 0 170,573 170,573 85,864 0
Total - location-based 316,052 316,052 337,565 304,568 482,984 482,984 427,897 342,033
Total - market-based 221,671 221,671 276,622 225,086 403,502 403,502 372,455 286,591

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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