U.S. Bancorp

Diversified Banks

USB

$ 40 1.8

Share price

$ 63 bn

Market Cap

$ 75 bn

Enterprise Value

Carbon footprint

GHG emissions per $ 1 mln investment

0.05x the weighted average for S&P 500

FY2021

Primary Climate Goal

Proj. YOY change in GHG emissions (Scope 1 + 2)

FY2022

U.S. Bancorp aims to reduce Scope 1 + 2 by 60% by 2044 from a base year 2014

This target is most likely outdated and the company appears to have already achieved it

This target has not been verified as science based according to SBTi

GHG emissions and Carbon intensity

U.S. Bancorp reported Total CO2e Emissions - Market-Based Scope 1 + Scope 2 for the twelve months ending 31 December 2021 at 139 Kt (-54 /-28.1% y-o-y). Also positively, carbon intensity was down at 5.8 t (-4.1 /-41.4% y-o-y).

U.S. Bancorp's Scope 3 emissions declined marginally to 83 Kt (-0.69 /-0.8% y-o-y). The rate of decline has slowed vs. the previous periods (CAGR -21.4% since 4Q'19).

The company is committed to reducing Scope 1 + 2 by 60% by 2044 from a base year 2014, which it appears to have already achieved as of 2021. This target, however, has not been recognised as science-based (and as aligned with Paris Agreement) by the SBTi.

Date	Total CO2e emissions (market-based Scope 1 & 2) (Kt)	Scope 1	Scope 2	Scope 3	Revenue (USDm)	Carbon intensity (tons of CO2e) / (USDm)
2021Q4	139	41	98	83	23,894	5.8
2020Q4	193	41	152	83	19,420	9.9
2019Q4	225	49	176	171	21,379	11
2018Q4	277	52	225	90	21,142	13
2017Q4	286	46	239	88	20,307	14
2016Q4	371	46	325	90	19,781	19
2015Q4	387	52	336	103	18,961	20
2014Q4	415	60	355	114	18,710	22