Climate Action Plan

We recognise that climate change is a critical issue for the UK and the wider world. The impact of climate change also poses a significant risk to our activities. We’re committed to taking the action necessary to ensure that we contribute to addressing this challenge. 

 

As a signatory of the UN Principles of Responsible Banking we’re committed to an ongoing process to align our strategy with the 2015 Paris Agreement and the UN Sustainable Development Goals. 

 

Full details of what we are doing on climate are detailed on our Climate Action Plan 2021-2023.

 

Our Climate Action Plan sets out a range of activities designed to enable us to contribute to a Net Zero World:

Our targets are to be Carbon Neutral for Scope 1 and Net Zero for Scope 2 emissions by the end of 2021. We’ll achieve these targets through focusing on the following areas:

 

Reduction in emissions

We will reduce our emissions through energy efficiency and demand reduction measures. 

 

Renewable energy

We will source credible renewable energy arrangements to ensure Scope 2 emissions are removed. 

 

Carbon offset

After proving we have reinforced our emissions as much as possible we will offset any residual emissions. 

 

Looking further into the future we will look to further reduce our emissions by tackling our Scope 3 operational emissions through the following actions:

 

Goods and Services

Working with suppliers to eliminate the emissions in the products and services we buy

 

Waste disposal

Reducing the waste we generate and the emissions arising from their disposal.

 

Employee commuting

Encouraging colleagues to commute to our premises using low carbon means of transport.

 

Pension fund

Making sure our colleagues pension investments are ethical and consistent with the climate agenda.

 

Our ambition is to be totally carbon neutral by 2040, but there is much work to do to achieve this goal, in particular working with the Government and utility providers to enable home owners to make their properties more energy efficient. We’re committed to providing our members with products to help them make this transition as well as offering resources which help our customers make decisions on what energy efficiency options make most sense for them.