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  • Working with customers, government and the market we will reduce the carbon emissions we finance by more than 50% by 2030, and we will become a net zero business by 2050.

    Our operations

    • Achieve net zero carbon operations by 2030 and reduce our direct carbon emissions by at least 75%.
    • Maintain travel emissions below 50% of pre-COVID-19 levels.
    • Reduce our total electrcity consumption by 50% by 2030.
    • 100% renewable energy supply achieved.
    • Reduce our operational waste by 80% by 2025.
    • Reduce water consumption by 40% by 2030. 

    Our products and propositions

    • Since 2019, all new colleague vehicle leases have been for electric or hybrid vehicles.
    • Our fleet management business has announced its target to reach net zero by 2030. 
    • Our Insurance and Wealth business has set its target to reach net zero by 2050 across its entire portfolio, and is divesting £440m from companies failing to meet our ESG standards. 
    • We're creating a dedicated team to help clients fulfil their sustainability goals. 
    • More than 900 relationship managers have been trained by the University of Cambridge Institute for Sustainability Leadership (CISL).
    • Commercial Banking has made a £5bn green finance funding commitment. 
    • We won't provide general purpose banking to new customers with revenue from coal-fired power stations in the UK.

    Governance

    • Annual reporting on our progress to ensure accountability.
    • We've announced our new sector target to halve the carbon intensity of the power we finance. 

    Partnerships

    • In 2021 we became a founding member of the Net Zero Banking Alliance, working towards net zero emissions by 2050.
    • Climate Group
    • Woodland Trust
    • Green Finance Institute
    • Aldersgate Group

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