Environmental responsibility

We believe that we have an important role to play in facilitating and financing the transition to a low-carbon, resource-efficient economy.

In 2012 Lloyds Banking Group was listed in the Carbon Disclosure FTSE 350 Leadership Index for the fourth year running. This was in recognition of our performance in managing climate risks and seizing the emerging opportunities.

Environmental leadership

We proactively identify opportunities to collaborate with external partners to drive positive environmental change – examples of this include representation on the Prince of Wales’s Corporate Leaders Group on Climate Change; membership of the May Day Network and representation on Business in the Community’s Environmental Leadership Team that governs its activities.

Environmental action plan

In 2010 we launched our environmental action plan called Smart & Responsible. The programme sets challenging short, medium and long term goals with the objective of reducing our environmental impact significantly by 2020.

Renewable energy finance

We provide affordable finance for renewable energy projects. This helps society reduce its reliance on fossil fuels and is also a growth product for the Group.
In 2011, we committed to fund 18 renewable energy deals, totaling £571 million. These are capable of generating around 2,160 MW.

Seizing the opportunities

To be the best bank for customers we recognise our role in financing the UK’s green economy and therefore strive to lead our industry. We work in collaboration with others, to provide the right products and services that support the transition to a low-carbon more resource-efficient economy which ultimately will lead to the creation of more green jobs.

Practical examples of action during 2011 include:

• We have developed a small-scale renewable product for our Commercial customers and are currently designing a small-scale product to our Mid Markets customers
• Our Lex Autolease brand provides strategic Fleet Consultancy services. We have industry experts that have carried out over 400 consultations since 2005 to deliver cleaner fleets to our customers
• Lloyds Bank Corporate Markets has taken a leadership role in the Green Deal Finance Company, which will be a key mechanism for enabling the UK’s clean tech and energy organisations, including some of our corporate banking customers, to play their part in supporting the global environmental agenda.
• We are part of the Cambridge Programme for Sustainable Leadership, Banking & Environment Initiative. The Group brings together leading international banks dedicated to working with their clients to redirect capital away from environmentally damaging activities towards sustainable. Low carbon growth.