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.
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.
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.
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.
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: