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.
- 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.
- 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.
- 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