Carbon Footprint — Operations: How does Monzo Bank score?

Monzo reports full Scope 1 (~194 tCO2e) and Scope 2 (~207 tCO2e location-based, 0 market-based) using GHG Protocol methodology via Watershed software. Data is published annually on monzo.com/protecting-the-environment. Multi-year tracking since at least FY2019. No independent third-party assurance is documented, which prevents a higher score.

Carbon Footprint — Supply Chain: How does Monzo Bank score?

Monzo reports Scope 3 at 98.3% of total footprint (~23,240 tCO2e in FY2025), quantified via Watershed. Major categories include purchased goods and services, payment processing, and card production. However, financed emissions — a critical Scope 3 category for banks under PCAF guidance — are not included in the reported 23,641 total. This is a material gap given Monzo holds £16.6B in customer deposits.

Emissions Trajectory: How does Monzo Bank score?

Absolute emissions rose 17% from 20,146 tCO2e (FY2024) to 23,641 tCO2e (FY2025). Monzo's customer intensity fell 10% (1,890 tCO2e per million customers), but absolute emissions are moving in the wrong direction. Per SINK rules, intensity improvements while absolute emissions rise cannot score above 4. The upward trajectory warrants a score of 2. Earlier data: FY2019 was 12,970 tCO2e, meaning emissions have nearly doubled over 6 years.

Energy Source: How does Monzo Bank score?

Monzo states all UK offices (London, Cardiff) run on 100% renewable electricity, and all new offices will also use 100% renewable electricity. Market-based Scope 2 is reported as 0. This appears to be a procured renewable tariff rather than on-site generation or a PPA. The San Francisco office energy sourcing is less clear. Score reflects strong but not fully verified renewable coverage.

Nature & Biodiversity Impact: How does Monzo Bank score?

No biodiversity policy, TNFD disclosure, or nature impact assessment found. As a digital bank, Monzo has minimal direct nature exposure. The no-fossil-fuel investment policy indirectly reduces nature impact through financed activities. A reforestation carbon removal project in Kenya exists for card emissions but is small-scale. No formal assessment of nature dependencies in operations or supply chain.

Resource Use & Waste: How does Monzo Bank score?

Monzo has switched to 93% recycled PVC cards with solvent-free ink in FY2025 (7.7 million cards). A card recycling programme exists via FREEPOST. Office measures include removing water coolers to reduce energy. Cycle to work scheme offered. These are active waste minimisation steps but fall short of measurable circular targets or comprehensive supplier sustainability requirements.

Water Impact: How does Monzo Bank score?

No water consumption data is published. As a digital bank operating from offices, Monzo has genuinely low water impact. The company demonstrated awareness by removing water coolers and boiling taps from its London office as part of its net zero drive. No chemical discharge or significant water pollution risk. Score reflects low inherent impact with basic awareness but no formal monitoring.

Targets & Commitments: How does Monzo Bank score?

Monzo has a self-set net zero by 2030 target covering its full value chain (Scope 1, 2, 3). This is specific and time-bound. However, it is not validated by SBTi — DitchCarbon confirms no commitment through major frameworks. Absolute emissions are rising, undermining the credibility of the 2030 target. Some carbon removals are purchased (reforestation via Watershed) for card and business travel emissions, but these cover a fraction of total emissions.

Transparency & Accountability: How does Monzo Bank score?

Monzo publishes its full carbon footprint (Scope 1, 2, 3) on its website annually and in its annual report. Board and executive oversight is documented with representatives responsible for climate policy. ESG framework governs Treasury investments. The company explicitly commits to avoiding misleading terminology like 'carbon neutral'. However, there is no dedicated sustainability report, no TCFD/CSRD disclosure found, and no third-party verification of emissions data.

Controversies & Red Flags: How does Monzo Bank score?

No environmental controversies, greenwashing allegations, or climate-related lawsuits found. No evidence of climate-negative lobbying or membership in misaligned trade associations. Monzo is a member of the Tech Zero Taskforce (positive). The FCA fined Monzo £21.09M in July 2025 for inadequate anti-financial crime systems (2018-2020), but this is a financial crime control issue, not environmental. Starting at 8, deducted 1 for regulatory action, though non-environmental.

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Monzo Bank Sustainability Score: 47/100

◌ Pending Review

🏦 Financial Services / BankingGBMaking progress

~3,800 employees~£1.2B revenue24Kt CO₂e totalRanked #111 of 503Website ↗

Monzo Bank is a financial services / banking company headquartered in GB with total reported emissions of 24Kt CO₂e per year. Based on our 10-question rubric, Monzo Bank scores 47/100 — rated as making progress on sustainability but with room to improve.

SINK Score Breakdown

How we calculated Monzo Bank's score using our formula: (0.3 × Base + 0.7 × Performance) × Scale Penalty

Base Impact

Financial Services / Banking industry ceiling

Performance

45/100

10 questions scored below

Scale Penalty

emissions volume multiplier

SINK Score

(0.3 × 50 + 0.7 × 45) × 1 = 47

Emissions Breakdown

Scope 1

194t

Direct emissions

Scope 2

207t

Energy (purchased)

Scope 3

23Kt

Value chain

Total

24Kt

CO₂e per year

10-Question Rubric Breakdown

Click any question to see the reasoning, sources and community challenges.

6/10

Carbon Footprint — Operations

5/10

Carbon Footprint — Supply Chain

2/10

Emissions Trajectory

7/10

Energy Source

3/10

Nature & Biodiversity Impact

4/10

Resource Use & Waste

3/10

Water Impact

3/10

Targets & Commitments

5/10

Transparency & Accountability

Q10

7/10

Controversies & Red Flags

Community Verification

0 verifications · 0 challenges · Scored using SINK editorial review

Last scored: 6 Apr 2026

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