Commercial, Energy Efficiency, GHG Emissions  -  April 10, 2024

EQB Maintains Carbon Neutrality

EQB Inc. announced the financial services company has been carbon neutral in its Scope 1 and 2 GHG emissions since 2020.

The bank followed the greenhouse gas (GHG) Protocol and Partnership for Carbon Accounting Financials (PCAF) to measure its Scope 1 and 2 emissions.

EQB disclosed Scope 1, 2 and 3 GHG emissions across all applicable categories, including financed emissions, for the third consecutive year.

The company operates Equitable Bank, a wholly owned subsidiary,  and wealth management through ACM Advisors. Equitable Bank is the only Schedule I Bank that operates entirely without a physical retail presence and the first bank in Canada to host its digital core banking system in the cloud.

The company’s carbon offset portfolio includes three new Canadian projects that align within the communities in which it operates - the Great Bear Forest Carbon Project, Quinte Conservation Forest Project and CarbonCure Technologies. The company purchased 928 carbon credits.

Details were issued in its annual EQB Responsibility Report.  

"Our purpose at EQB is to drive change in Canadian banking to enrich people's lives, and I am proud of the progress we achieved against this purpose as we continually strive to be a capable contributor to society at large as befits our status as owner of Canada's seventh largest bank," said Andrew Moor, president and chief executive officer in a statement. "We welcome all stakeholders to review and celebrate this disclosure alongside us as we seek to improve, add value to and act responsibly in our communities for a better future."