Co Operative Bank Sustainability Profile
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 51 is higher than 71% 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, The Co-operative Bank reported total carbon emissions of approximately 360,000,000 kg CO2e, with emissions distributed across all three scopes: 684,700 kg CO2e (Scope 1), 1,541,600 kg CO2e (Scope 2), and 358,422,000 kg CO2e (Scope 3). This data reflects a significant reliance on indirect emissions, particularly in Scope 3, which encompasses the majority of their carbon footprint. Comparatively, in 2022, the bank's total emissions were about 2,122,000 kg CO2e, with Scope 1 emissions at 560,000 kg CO2e, Scope 2 at 1,562,000 kg CO2e, and Scope 3 at 360,717,500 kg CO2e. This indicates a notable increase in emissions in 2023, particularly in Scope 3, which is critical for understanding the bank's overall environmental impact. The Co-operative Bank's emissions data is cascaded from its parent organization, The Co-operative Bank p.l.c., and is part of a broader commitment to sustainability. However, there are currently no specific reduction targets or initiatives disclosed, such as those from the Science Based Targets initiative (SBTi) or other climate pledges. The absence of documented reduction targets suggests a need for the bank to establish clear goals to mitigate its carbon emissions effectively. Overall, while The Co-operative Bank has made strides in transparency regarding its carbon emissions, the lack of defined reduction strategies highlights an area for potential improvement in 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 | 0,000,000 | 0,000,000 | 0,000,000 | 0,000,000 | 0,000,000 |
| Scope 3 | 423,000 | - | - | 000,000,000 | 000,000,000 | 000,000,000 |
How Carbon Intensive is Co Operative Bank's Industry?
How Carbon Intensive is Co Operative Bank's Location?
Co Operative Bank's Climate Goals (2030 & 2050)
Climate goals typically focus on 2030 interim targets and 2050 net-zero commitments, aligned with global frameworks like the Paris Agreement and Science Based Targets initiative (SBTi) to ensure alignment with global climate goals.
Co Operative Bank has not publicly committed to specific 2030 or 2050 climate goals through the major frameworks we track. Companies often set interim 2030 targets and long-term 2050 net-zero goals to demonstrate measurable progress toward decarbonization.
