Climate Change Data

Capital One Financial Corporation

Climate Impact & Sustainability Data (2019)

Reporting Period: 2019

Environmental Metrics

Total Carbon Emissions:156166 tCO2e/year
Scope 1 Emissions:9495 tCO2e/year
Scope 2 Emissions:135 tCO2e/year (market-based), 146671 tCO2e/year (location-based)
Scope 3 Emissions:165571 tCO2e/year (estimated)
Renewable Energy Share:100% of electricity consumption
Total Energy Consumption:40393 MWh/year
Water Consumption:Not disclosed
Waste Generated:Not disclosed
Carbon Intensity:0.0000054603 tCO2e/USD revenue (location-based)

ESG Focus Areas

  • Climate Change

Environmental Achievements

  • Achieved carbon neutrality for Scope 1 and 2 (market-based) emissions through carbon offsets and 100% renewable energy.
  • Achieved carbon neutrality for Scope 3 business travel emissions through carbon offsets.
  • Achieved 100% renewable electricity consumption through REC purchases.

Social Achievements

  • Not disclosed

Governance Achievements

  • Established board-level oversight of climate-related issues through the Board Governance and Nominating Committee.
  • Implemented incentives for management of climate-related issues, linking performance objectives to annual compensation.

Climate Goals & Targets

Long-term Goals:
  • Not disclosed
Medium-term Goals:
  • Develop a methodology and process for climate-related scenario analysis within the next two years.
  • Set a science-based target within the next two years.
Short-term Goals:
  • Not disclosed

Environmental Challenges

  • Regulatory uncertainty related to climate change.
  • Increased credit risk due to new climate change-related legislation.
  • Potential for workplace/workforce disruptions caused by extreme weather events.
Mitigation Strategies
  • Multi-faceted approach combining insights from risk identification process and Environmental Sustainability Office (ESO).
  • Leveraging carbon emissions data and subject matter expert judgment to develop models and scenario analyses.
  • Business Continuity Program to minimize customer impact and operational losses.

Supply Chain Management

Supplier Audits: 1% of suppliers by number

Responsible Procurement
  • Environmentally preferred paper policy
  • Participation in World Wildlife Fund’s Global Forest & Trade Network

Climate-Related Risks & Opportunities

Physical Risks
  • Extreme weather events impacting workforce and operations
Transition Risks
  • Regulatory changes impacting credit risk
Opportunities
  • Increased commercial lending for renewable energy projects
  • Increased demand for green finance products

Reporting Standards

Frameworks Used: Greenhouse Gas Protocol

Certifications: Null

Third-party Assurance: Apex (Limited Assurance)

UN Sustainable Development Goals

  • Not disclosed

Not disclosed

Sustainable Products & Innovation

  • Multi-Family Housing Green Finance products
  • Renewable Energy Lending

Awards & Recognition

  • Not disclosed