Companies are slowly realizing their banks are adding to their carbon emissions

Shortly after Vince Digneo joined Palo Alto Networks as head of sustainability, climate and clean energy in July 2021, he launched a review of its environmental, social and corporate governance (ESG) disclosure practices. One question was whether the company could trace the carbon footprint generated by its bank accounts, retirement and 401(k) funds, and other financial relationships. Through that process, the company and its treasury team uncovered for the first time metrics for emissions attributable to investments and other financial activities. It’s a modest but “reportable” number — about 9 percent of the cybersecurity company’s Scope 3 emissions, Digneo said. Scope 3 relates to carbo

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