Virgin Money UK
Virgin Money UK, officially known as Virgin Money Holdings (UK) plc, is a prominent financial services provider headquartered in Australia. Established in 1995, the company has evolved significantly, expanding its operations across the UK and offering a diverse range of banking and financial products. Operating primarily in the banking industry, Virgin Money UK focuses on personal banking, savings accounts, mortgages, and credit cards. Its unique approach combines innovative technology with customer-centric services, setting it apart in a competitive market. With a commitment to transparency and ethical banking, Virgin Money UK has garnered a strong reputation, achieving notable milestones such as its acquisition of Northern Rock in 2012. Today, it stands as a key player in the UK financial landscape, recognised for its dedication to customer satisfaction and sustainable practices.
DitchCarbon Score
How does Virgin Money UK's carbon action stack up? DitchCarbon scores companies based on their carbon action and commitment to reducing emissions. Read about our methodology to learn more.
Industry Average
Mean score of companies in the Financial Intermediation industry. Comparing a company's score to the industry average can give you a sense of how well the company is doing compared to its peers.
Industry Benchmark
Virgin Money UK's score of 38 is higher than 63% of the industry. This can give you a sense of how well the company is doing compared to its peers.
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Virgin Money UK's reported carbon emissions
In 2023, Virgin Money UK reported total carbon emissions of approximately 63,000,000 kg CO2e, comprising 2,677,000 kg CO2e from Scope 1, 6,002,000 kg CO2e from Scope 2, and 55,038,000 kg CO2e from Scope 3 emissions. This represents a notable increase in emissions compared to 2022, where total emissions were about 52,000,000 kg CO2e, with Scope 1 at 3,395,000 kg CO2e, Scope 2 at 6,891,000 kg CO2e, and Scope 3 at 48,544,000 kg CO2e. Virgin Money UK's emissions data is cascaded from its parent company, Virgin Money UK PLC, which is responsible for the overall climate strategy and reporting. The company has not set specific reduction targets under the Science Based Targets initiative (SBTi) or other formal climate pledges, indicating a potential area for future commitment. The emissions per £ million revenue for 2023 were approximately 0.001535 kg CO2e, reflecting the company's operational efficiency in relation to its financial performance. Virgin Money UK continues to disclose its emissions across all relevant scopes, demonstrating transparency in its environmental impact reporting.
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| 2019 | 2022 | 2023 | |
|---|---|---|---|
| Scope 1 | - | 0,000,000 | 0,000,000 |
| Scope 2 | - | 0,000,000 | 0,000,000 |
| Scope 3 | 6,277,000 | 00,000,000 | 00,000,000 |
Industry emissions intensity
Location emissions intensity
Reduction initiatives & disclosure networks
Companies disclose and commit to reducing emissions to show they are serious about reducing emissions impact over time. They can also help a company track its progress over time.
Virgin Money UK is not participating in any of the initiatives that we track. This may change over time as the company engages with new initiatives or updates its commitments. DitchCarbon will update this information as it becomes available.
