Environmental sustainability
Enabling the transition to a more sustainable and inclusive future for people and businesses is key to delivering on our purpose of Helping Britain Prosper.
Our Group net zero ambitions
We will work with customers, government and the market to help reduce the carbon emissions we finance by more than
50%
by 2030 on the path to net zero by 2050 or sooner
and
halve
the carbon footprint of our investments
by
2030
Building a more sustainable and inclusive future
We support practically every sector of the UK economy, and we serve millions of people and businesses every day. Our lending, investments, products and services are powerful drivers of creating a sustainable and inclusive future, and is key to how we will grow our business profitably.
We will help drive environmental sustainability where we live, in how we move, how we farm, and through the energy we use.
Sustainability Report 2023
This report provides an update on our progress towards the Group's sustainability ambitions, on sustainable and inclusive growth opportunities for the Group and activities we are undertaking to understand our ESG-related risks. It also includes our climate transition plan.
Working towards net zero
While our overarching net zero commitments are longer term, it's the way we embed sustainability in our day-to-day operations that will move us towards meeting these targets.
In addition to the actions outlined above, we are founding members of the Net Zero Banking Alliance and we play an active role in the Financial Services Taskforce. And beyond our own sector we have a strong network of like-minded partners, all working to accelerate transition.
We know time is critical and the next few years will be decisive in tackling climate change. We have a key role to play in transitioning the UK economy towards net zero, and our focus is on financing the transition to build a more sustainable and inclusive future for people and business, shaping finance as a force for good.
Our sustainable lending and investment targets
-
Motor
£8 billion financing for EV and plug-in hybrid electric vehicles by 20241
£5.7bn
achieved since January 2022 -
Mortgages
£10 billion of mortgage lending for EPC A and B-rated properties by 20241
£7.5bn
achieved since January 2022 -
Scottish Widows
£20–25 billion discretionary investment in climate-aware strategies and climate solutions1 by 2025
£21.7bn
achieved by FY 2023
Commercial Banking
£15 billion sustainable finance1 for corporate and institutional customers by 2024
£15.8bn
achieved since January 2022
New target
£30bn
sustainable finance from 2024 to 20263
Sustainable finance news and insight
Decarbonising the UK's housing stock
Our new research focuses on the key barriers to decarbonisation, the incentives needed to drive progress and contains insight from people who have retrofitted their homes.
What it means to be Head of Nature at Lloyds Banking Group
Katie Leach, Head of Nature at Lloyds Banking Group, explains the importance of nature protection.
Find out more about sustainability at Lloyds Banking Group
What it means to be Head of Nature at LLoyds Banking Group
Katie Leach, Head of Nature at Lloyds Banking Group, explains the importance of nature protection.
Our operational emissions
Reducing the carbon footprint of our own operations is a key part of our sustainability strategy and we’re working towards an ambitious set of commitments.
Our partnership with the Woodland Trust
At the beginning of 2020, we started working with the Woodland Trust to plant 10 million trees across the UK by 2030.