We believe that we have an important role to play in facilitating and financing the transition to a low-carbon, resource-efficient economy. Our vision is to be recognised as a leading UK bank on environmental issues.
In 2010, Lloyds Banking Group was rated the top UK bank in the new FTSE CDP Carbon Strategy Index Series, recognising our performance in managing climate risks and seizing the emerging opportunities.
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.
We have launched a new environmental action plan, which sets challenging goals to significantly reduce the environmental impact of our business operations by 2020. Our goals are to reduce energy, paper, business travel, water and waste by 20% by 2020. Lloyds Banking Group in the UK has been awarded the Carbon Trust Standard in recognition of measuring, managing and reducing its carbon emissions and its commitment to making further reductions year on year. The Carbon Trust Standard requires organisations to keep reducing their carbon emissions and to recertify every two years. |  |
As a leading renewable energy bank, over the past five years we have arranged or underwritten finance for 45 renewable energy deals, with £2.6 billion committed. This equates to over 6,000MW of renewable generation – enough to supply more than three million homes.
Our asset management arm, Scottish Widows Investment Partnership (SWIP), is one of the UK’s largest asset management companies. SWIP integrates environmental issues into its standard fund analysis process, and manages specialist ethical and environmental funds totalling £470 million. SWIP was the first signatory of the Carbon Disclosure Project’s new Carbon Action initiative and is playing a lead role in developing new global initiatives in this area.
Lloyds Banking Group has published its 2011 environment report entitled: Our Environmental Action Plan: one year on.
Within the report Truett Tate, Vice Chairman for Lloyds Banking Group, outlines the wealth of environmental changes already adopted by the Group together with progress made during 2011 including:
Truett Tate also describes how the Group is using its scale to influence positive environmental change. He said: "Effecting climate change requires concerted effort between businesses, governments as well as individuals. We will continue to collaborate widely and deeply, to lead the banking sector on this crucial global issue."
Read the full report - 2011 Climate and Environment Report
