Huntington National Bank Exploratory Net Zero Roadmap
Size Scope 1, 2 & 3 Emissions Quantification Benchmarking
Environmental Strategy Consulting
Emissions Disclosure Support
HEAPY has provided sustainability and energy consulting services to Huntington Nation Bank for five years, helping quantify carbon emissions and providing qualitative consulting on CDP* (formerly Carbon Disclosure Protocol) reports and questionnaires. In 2021, HEAPY was engaged to help Huntington create a comprehensive Exploratory Net Zero Roadmap, which would serve as a high-level, step-by-step guide to transition the financial institution from its current state to its desired future state.
To achieve this goal the team evaluated current initiatives and operations (e.g., supply chain, financed emissions), collected baseline data, set realistic targets, and provided a comprehensive analysis to guide decisions. This analysis looked at a range of potential sustainability initiatives, such as electric vehicles versus renewable energy sourcing, and provided recommendations based on cost, return on investment, time horizon, and GHG reduction potential. The team focused on reducing greenhouse gas (GHG) emissions strategically and authentically, without relying solely on purchased offsets.
The Exploratory Net Zero Roadmap leveraged best practices and adhered to industry standards, such as CDP. The resulting analysis provided a clear, prioritized, agile roadmap to guide investments and decision making in the years to come.
In addition to the sustainability and resiliency services, HEAPY worked with Huntington to improve their GHG disclosure in accordance with ISO 14064-3 in support of annual CDP disclosure requirements, engaging in the following process:
- conduct a formal review of current reporting processes,
- adjust calculation procedures and protocols to capture better data and improve results,
- and produce a final report that better addressed CDP reporting and response expectations.
Ultimately, Huntington improved performance in multiple ranking categories, including Scope 1 & 2 Emissions and Verification, Risk Disclosure, Governance, and Business Strategy. This engagement helped Huntington increase their CDP score, moving the organization from a “B” to an “A-“ on their sustainability plan – one of only to two financial institutions to improve their ranking from 2020 to 2021.
*CDP is a not-for-profit charity that runs the global disclosure system for investors, companies, cities, states and regions to manage their environmental impacts.
