Regions Financial Corporation
Primary Climate Goal
Regions Financial Corporation's target annual Scope 1 + 2 emissions for 2030 should be equal to 49 Kt = 50% * 98 Kt, according to the company's stated climate goal.
In order to achieve this goal, Regions Financial Corporation would need to reduce its emissions at least by -2.8 Kt per annum over the period from 2021 to 2030:
-2.8 Kt = ( 49 Kt - 77 Kt ) / (2030 - 2020)
This translates into a -3.6% reduction in 2021.
The projected range shown on the chart is based on the Exerica's algorithm which takes account of both the company's stated goal and its past performance.
Regions Financial Corporation aims to reduce Scope 1 + 2 by 50% by 2030 from a base year 2019
Science Based Targets initiative In October 2021 SBTi developed and launched world's first net zero standard, providing framework and tools for companies to set science-based net zero targets and limit global temperature rise above pre-industrial levels to 1.5 °C.
GHG emissions and Carbon intensity
Scope 1 + 2 GHG emissions (in tons of CO2e) divided by the company's Revenues (in USDm) for the same period
Regions Financial Corporation reported Total CO2e Emissions - Market-Based Scope 1 + Scope 2 for the twelve months ending 31 December 2020 at 77 Kt (-22 /-21.9% y-o-y). Also positively, carbon intensity fell to 16 t (-2.5 /-13.9% y-o-y).
Regions Financial Corporation's Scope 3 emissions plunged to 2.4 Kt (
The company is committed to reducing Scope 1 + 2 by 50% by 2030 from a base year 2019, which translates into the estimated reduction of -2.8 Kt per annum over the period of FY2021 - FY2030. This target, however, has not been recognised as science-based (and as aligned with Paris Agreement) by the SBTi.