Bank Of England
The Bank of England, often referred to simply as the BoE, is the central bank of the United Kingdom, headquartered in London, GB. Established in 1694, it plays a pivotal role in the UK’s financial system, overseeing monetary policy, issuing banknotes, and maintaining financial stability. The Bank's core services include setting interest rates, managing inflation, and regulating the banking sector, which are essential for fostering economic growth. With a rich history marked by significant milestones, such as the introduction of the inflation targeting framework in the 1990s, the Bank of England has solidified its position as a leading authority in the global financial landscape. Its unique approach to monetary policy and commitment to transparency have earned it a reputation for reliability and trustworthiness, making it a cornerstone of the UK economy.
DitchCarbon Score
How does Bank Of England'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
Bank Of England's score of 46 is higher than 69% of the industry. This can give you a sense of how well the company is doing compared to its peers.
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Bank Of England's reported carbon emissions
In 2024, the Bank of England reported total carbon emissions of approximately 78,919,000 kg CO2e. This figure includes Scope 1 emissions of about 2,186,000 kg CO2e, which comprise mobile combustion (28,000 kg CO2e), fugitive emissions (186,000 kg CO2e), and stationary combustion (2,143,000 kg CO2e). Notably, the Bank did not report any Scope 2 emissions, as it did not purchase electricity. Scope 3 emissions totalled around 57,923,000 kg CO2e, with significant contributions from capital goods (10,703,000 kg CO2e), business travel (3,874,000 kg CO2e), and employee commute (3,234,000 kg CO2e). In comparison, the Bank's total emissions for 2023 were approximately 99,291,000 kg CO2e, indicating a reduction of about 20% year-on-year. The breakdown for 2023 shows Scope 1 emissions at around 2,229,000 kg CO2e and Scope 3 emissions at approximately 77,062,000 kg CO2e. The Bank of England has not set specific reduction targets or climate pledges, nor does it report any initiatives under the Science Based Targets initiative (SBTi). The emissions data is not cascaded from any parent organization, indicating that the Bank independently reports its carbon footprint. Overall, the Bank of England's commitment to reducing its carbon emissions is evident in the significant year-on-year reduction, although further initiatives and targets would enhance its climate strategy.
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| 2015 | 2016 | 2021 | 2022 | 2023 | 2024 | |
|---|---|---|---|---|---|---|
| Scope 1 | 3,045,000 | 0,000,000 | 0,000,000 | 0,000,000 | 0,000,000 | 0,000,000 |
| Scope 2 | 5,563,000 | 0,000,000 | 000,000 | - | - | - |
| Scope 3 | 11,519,000 | 00,000,000 | 0,000,000 | 000,000 | 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.
Bank Of England 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.
