Our purpose and strategy
Our purpose is Helping Britain Prosper.
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.
We're working with customers, government and the market to reduce the carbon emissions we finance by more than 50% and halve the carbon footprint of our investments by 2030.
Our ambition is to achieve net zero by 2050 or sooner.
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 future.
Our business impacts and depends on nature, and supporting nature’s recovery is essential in climate change mitigation and adaptation.
Protecting and restoring nature goes hand-in-hand with supporting the transition to a low carbon economy, and ultimately Helping Britain Prosper.
Our approach centres on four key systems where we can leverage our scale and expertise to address environmental issues across climate and nature.
We're focussing on where we live, the energy we use, how we move and how we farm to support the transition to a more sustainable and inclusive society.
Sustainability Report 2023
This report provides an update on our progress towards the Group's sustainability ambitions, 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.
To support the preservation and restoration of the UK’s natural environment, the Group is the first founding partner of Projects for Nature.
These projects aim to restore nature and engage communities to address national nature recovery priorities including flood management, wildlife corridors and regenerative agriculture.
Integrating nature-based solutions across urban environments and landscapes
Developed by the Group, with input from RSPB, this latest report showcases nature-based solutions in action across the UK, and the raft of positive outcomes these can bring for nature, climate and people.
Reducing the carbon footprint of our own operations is a key part of our sustainability strategy.
We'll continue expanding our use of energy efficient technology, remove all use of natural gas from our estate and create more sustainable branches in communities across the UK.
We recognise the environmental impact of working collaboratively with our suppliers to tackle climate change in a way that is aligned with our purpose. Our Emerald Standard sets clear environmental and social expectations of our suppliers that we ask them to work towards.
Our commitments
Reduce our supply chain emissions by 50% by 2030 on the path to net zero by 2050 or sooner
Achieve net zero operations by 2030 and reduce our direct carbon emissions by at least 90%
Working with the Scottish Wildlife Trust to develop a plan to enhance biodiversity at The Mound, our main Edinburgh office.
We've created stepping stone habitats for species to travel around the city, including pollinators and rare species.
As the UK’s largest financial services provider, we have an important role to play in creating a more sustainable and inclusive future for people and businesses, by shaping finance as a force for good.
At the beginning of 2020, we started working with the Woodland Trust to plant 10 million trees across the UK by 2030.
Katie Leach, Head of Nature at Lloyds Banking Group, explains the importance of nature protection.