British Business Bank

British Business Bank, a financial intermediation services provider, reported total carbon emissions of approximately 8,449,010 kg CO2e in 2024. This figure includes Scope 2 emissions from purchased electricity, amounting to 76,500 kg CO2e, and Scope 3 emissions, which totalled 8,315,300 kg CO2e. The main contributors to Scope 3 were purchased goods and services at 7,824,200 kg CO2e, employee commute at 309,600 kg CO2e, and business travel at 180,800 kg CO2e, with waste generated in operations adding 700 kg CO2e.

In 2023, the Bank's total emissions were approximately 8,532,600 kg CO2e. Scope 2 emissions from purchased electricity were 70,600 kg CO2e, and Scope 3 emissions were approximately 8,407,400 kg CO2e. Major Scope 3 categories included purchased goods and services (8,037,500 kg CO2e), employee commute (236,800 kg CO2e), and business travel (132,600 kg CO2e), with waste generated in operations contributing 500 kg CO2e.

For 2022, total emissions were significantly lower at approximately 155,400 kg CO2e. This included 65,700 kg CO2e from Scope 2 purchased electricity and 75,300 kg CO2e from Scope 3, primarily from business travel (75,000 kg CO2e) and waste generated in operations (300 kg CO2e). Notably, data for purchased goods and services under Scope 3 was not disclosed for 2022. No Scope 1 emissions have been reported for any of these years.

British Business Bank is committed to addressing its climate impact. The Bank has set a long-term net-zero target for financed emissions by 2050, with an initial Portfolio Alignment Strategy developed in 2023. This strategy outlines an investment approach and portfolio management plan through 2027/28 to align with a net-zero future. The Bank also aims to align its products, delivery partners, and reporting with a net-zero future through a five-year programme from 2023 to 2028. Additionally, the Bank has acknowledged the UK's broader commitment to a 68% reduction in 1990 emissions levels by 2030 across all scopes. British Business Bank plc has also committed to near-term Science Based Targets (SBTi) and has made a net-zero commitment, aligning with the Financial Institutions Net-Zero Standard.