Capital One, a leading financial services company, is actively implementing measures to decrease emissions across scope 1, scope 2, and scope 3 categories. Scope 1 emissions, which include direct emissions from owned or controlled sources, were reported at 7,296 metric tonnes (mt) of CO2 equivalent (CO2e) for the reporting year 2022. Scope 2 emissions, which include indirect emissions from purchased electricity, were reported at 83,850 mt CO2e (location-based) and 1,914 mt CO2e (market-based). Scope 3 emissions, which include indirect emissions from the value chain, were reported at a total of 250,428 mt CO2e. This includes emissions from categories such as purchased goods and services, fuel and energy-related activities, waste generated in operations, business travel, employee commuting, and downstream leased assets.

Capital One has taken several steps to reduce its emissions and has implemented a verification process conducted by an experienced team to ensure the accuracy and compliance of its GHG emissions data. It has also followed the World Resources Institute (WRI)/World Business Council for Sustainable Development (WBCSD) GHG Protocol standards for reporting emissions. The company has made investments in renewable energy, including the procurement of renewable energy certificates (RECs) to match its annual electricity usage. It is also pursuing LEED Silver or higher certification for all new buildings and comprehensive renovations. Additionally, Capital One has joined the RE100 initiative, committing to 100% renewable electricity.

In conclusion, Capital One is taking significant steps to reduce its GHG emissions. The company is focused on reducing emissions across scope 1, scope 2, and scope 3 categories and has made investments in renewable energy. By implementing verification processes and following industry standards, Capital One is committed to ensuring the accuracy and transparency of its emissions data.

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