Healthy Environment

Our ambition

To achieve net zero carbon emissions across the group by 2050.

What this means for us

Climate change is one of the biggest challenges facing society. We want to help other businesses to reduce their emissions.

Our strategy

Climate Strategy is one of our key pillars of focus. Our strategy aligns with the Paris Agreement's goals to tackle climate change. We are focusing on three areas to achieve net zero emissions by 2050:

1. Managing climate risks

Integrate climate considerations into risk management frameworks

Screen and test our portfolio to identify climate-related risks

Measure portfolio alignment and set risk appetites

2. Supporting customers

Support our green customers

Continue to create green products and services for our customers

Develop customer and sector strategies to lower emissions 

3. Reducing emissions in our operations

Review internal policies to incorporate climate concerns 

Procure 100% green electricity and offset any residual CO2 emissions

Offset any residual CO2 emissions 

Continue to create a strong culture through our ‘green champions’ network


Journey to net-zero

To support the transition to a low-carbon economy, we will:

  • Align our power generation portfolio with the Paris Agreement. We want to eliminate all exposure to thermal coal mining worldwide.
  • Set sector-specific targets for other material sectors. This includes Oil and Gas, Transport, Mining and Metals by September 2022.
  • Raise and facilitate €120b by 2025 and €220b by 2030, in green finance across the globe.
  • Produce 100% of our power from renewable sources.
  • Maintain carbon neutrality in our operations. We will do this by offsetting our residual emissions. We have identified the priority sectors for reducing carbon. We are focusing our efforts where we can have the biggest impact.

Our Group roadmap to net zero outlines some of our key targets and milestones:

First steps on our journe

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Net Zero Banking Alliance founding member

We are a founding member of the Net Zero Banking Alliance (NZBA). This is important to further our commitment to carbon neutrality. The NZBA shapes climate policy for banking around the world.

Progress on our strategy

It is vital to be transparent with our progress. We have a long track record of supporting a low-carbon economy.

We will no longer be providing financial products and/or services to:

  • New coal-fired power plants worldwide
  • Oil and gas drilling projects north of the Atlantic Circle

Go to ‘sector policies’ on our Group sustainability website for further details.

Find out more about our progress by reading our latest reports:

Supporting customers to transition

Greener Homes Hub

Supporting our customers to transition is one of our key focuses. Our Greener Homes Hub contains helpful information about energy efficiency. We want to help customers to improve their energy efficiency. We will do this by helping our customers to understand the benefits of making those changes.

Through the hub, they can:

  • Learn about EPCs 
  • Check to see if their home has an EPC using the Government's EPC register
  • Find out if they can benefit from our range of discounted green additional loans
  • Access a free EnergyFact® report from Countrywide Surveying Services. The report tells them how their home’s energy efficiency could be improved.
Still Waters Green Technology

SWGT is the UK’s fast-growing battery energy storage business. We have helped them to finance a debt solution project. The financing is delivered under our Environmental & Social Growth Fund (ESGF). Find out more about our partnership here or visit the Still Waters website.