Co Operative Bank
The Co-operative Bank, headquartered in Manchester, GB, is a prominent player in the UK banking sector, known for its ethical banking practices and commitment to customer service. Founded in 1872, the bank has evolved significantly, achieving key milestones such as becoming the first UK bank to adopt a customer-led ethical policy in 1992. Operating primarily in the retail banking industry, the Co-operative Bank offers a range of core products and services, including personal and business accounts, mortgages, and loans. What sets the bank apart is its dedication to ethical finance, ensuring that customers' money is used in socially responsible ways. With a strong market position, the Co-operative Bank continues to be recognised for its commitment to sustainability and community-focused initiatives, making it a unique choice for conscientious consumers.
DitchCarbon Score
How does Co Operative Bank'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
Co Operative Bank's score of 47 is higher than 96% of the industry. This can give you a sense of how well the company is doing compared to its peers.
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Co Operative Bank's reported carbon emissions
In 2023, Co-operative Bank reported total carbon emissions of approximately 360,648,300 kg CO2e. This figure includes 684,700 kg CO2e from Scope 1 emissions, 1,541,600 kg CO2e from Scope 2 emissions, and a significant 358,422,000 kg CO2e from Scope 3 emissions, which encompasses areas such as investments and employee commuting. The bank has demonstrated a commitment to reducing its carbon footprint over the years. For instance, emissions decreased from about 9,414,000 kg CO2e in 2018 to approximately 6,999,000 kg CO2e in 2019, and further down to about 3,861,000 kg CO2e in 2020. However, emissions surged again in 2021, reaching approximately 374,363,600 kg CO2e, primarily due to Scope 3 emissions related to investments. Despite these fluctuations, Co-operative Bank has not publicly disclosed specific reduction targets or initiatives under the Science Based Targets initiative (SBTi) or other climate pledges. The absence of defined reduction targets suggests a need for clearer commitments in line with industry standards for climate action. Overall, while Co-operative Bank has made strides in tracking and reporting its emissions, further efforts are necessary to establish and communicate concrete reduction goals to enhance its climate commitments.
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| 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | |
|---|---|---|---|---|---|---|
| Scope 1 | 1,682,000 | 0,000,000 | 0,000,000 | 000,000 | 000,000 | 000,000 |
| Scope 2 | 7,061,000 | 000,000 | 000,000 | 000,000 | 0,000,000 | 0,000,000 |
| Scope 3 | 671,000 | 00,000 | 000,000 | 000,000,000 | 000,000,000 | 000,000,000 |
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.
Co Operative Bank 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.
