British Business Bank

British Business Bank, a US-headquartered organisation in financial intermediation services, reported total emissions of approximately 8.45 million kg CO2e in 2024. This figure includes Scope 2 emissions from purchased electricity, amounting to 76,500 kg CO2e, and Scope 3 emissions totalling about 8.32 million kg CO2e. Within Scope 3, significant contributors were purchased goods and services at approximately 7.82 million kg CO2e, employee commute at 309,600 kg CO2e, and business travel at 180,800 kg CO2e.

Looking back, in 2023, the bank's total emissions were approximately 8.53 million kg CO2e, comprising 70,600 kg CO2e from Scope 2 (purchased electricity) and about 8.41 million kg CO2e from Scope 3. The largest Scope 3 categories were purchased goods and services at approximately 8.04 million kg CO2e, employee commute at 236,800 kg CO2e, and business travel at 132,600 kg CO2e.

In 2022, total reported emissions were significantly lower at 155,400 kg CO2e, which included 65,700 kg CO2e from Scope 2 (purchased electricity) and 80,700 kg CO2e from Scope 3, with business travel accounting for 75,000 kg CO2e. However, data for 'purchased goods and services' was not disclosed for this year, which may explain the lower total.

British Business Bank is committed to addressing climate change, with a long-term net-zero financed emissions target by 2050, initiated through a Portfolio Alignment Strategy developed in 2023. This strategy outlines a five-year programme to align its products, delivery partners, and reporting with a net-zero future by 2027/28. The bank has also committed to a 68% reduction in emissions levels by 2030, compared to 1990 levels. The British Business Bank plc has committed to a net-zero target via the Science Based Targets initiative (SBTi) as of September 2021.