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Environmental, Social, and Governance

Overview ESG Framework Carbon Neutrality Policies, Statements and Resources
How did we achieve carbon neutrality?
  • 696
    • Carbon credits purchased
  • which offsets
    • 530 tCO2e
      • Scope 1 emissions from 2022, that arise from stationary combustion and refrigerant gas
    • 166 tCO2e
      • Scope 2 emissions from 2022, which are related to purchased electricity

                                                                                                                                     

"We believe that our purpose of enriching the lives of Canadians can and should be accomplished simultaneously alongside a low carbon transition. We are achieving this alignment through our digital banking capabilities, energy efficient, cloud-based architecture, focused real estate footprint and the essential financing we are providing to the Darkwoods Forest Conservation in Western Canada. Going forward, we will continue to step up to make real and lasting change for the environment as Canada's Challenger BankTM."

-Andrew Moor, CEO

We are carbon neutral in our Scope 1 and 2 greenhouse gas emissions for 2020, 2021 and 2022 and are committed to maintain this position for years to come.

Our progressive approach to banking challenges the norms and is one that represents a bright future for all Canadians. We have a clear mandate to drive real change in Canadian banking to enrich people's lives, which includes preserving the beautiful country we call home. We recognize that, though becoming carbon neutral is a small gesture, we are doing what we can right now to offset our environmental impact. We have followed the greenhouse gas (GHG) Protocol and Partnership for Carbon Accounting Financials (PCAF) to measure our Scope 1 and 2 emissions in partnership with WSP Canada.

 

Our Carbon Credits

The Darkwoods Forest Conservation Project is North America's first project to be certified under the Sustainable Development Verified Impact Standard (SD VISta).  This standard provides a framework by which projects may be assessed on the sustainable development benefits of the project and their contribution to the achievement of three United Nations Sustainable Development Goals. The project is independently verified to guarantee the highest environmental integrity and credits are dedicated to immediate emissions reduction, supporting the transition to a low carbon global economy. Purchasing VCS credits is in line with Equitable's commitment to combat climate change.

United Nations Sustainable Development Goals

The United Nations Sustainable Development Goals consist of 17 actions that, when acted on in partnership between developed and developing countries across the world, can cumulatively address the 2030 Agenda for Sustainable Development. The focus is on ending poverty and other deprivations and must go hand-in-hand with strategies that improve health and education, reduce inequality, and spur economic growth – all while tackling climate change and working to preserve our oceans and forests.

The Darkwoods Forest Conservation Project delivers on the following three of the 17 UN’s Sustainable Development Goals: 

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