Coventry Building Society Sustainability Profile
Coventry Building Society, one of the largest building societies in the UK, is headquartered in Coventry, GB. Established in 1884, it has a rich history of providing financial services, primarily focusing on savings accounts, mortgages, and insurance products. The society has consistently prioritised customer satisfaction, which has contributed to its strong market position and reputation for reliability. With a commitment to mutuality, Coventry Building Society offers unique products tailored to meet the needs of its members, including competitive mortgage rates and innovative savings solutions. Over the years, it has achieved significant milestones, such as being recognised for its customer service excellence and maintaining a robust financial standing. Operating mainly in the West Midlands and beyond, Coventry Building Society continues to play a vital role in the UK financial landscape.
DitchCarbon Score
How does Coventry Building Society'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
Coventry Building Society's score of 88 is higher than 93% of the industry. This can give you a sense of how well the company is doing compared to its peers.
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Coventry Building Society's reported carbon emissions
In 2024, Coventry Building Society reported carbon emissions of approximately 338,000 kg CO2e for Scope 1 and 1,180,000 kg CO2e for Scope 2 globally, with total Scope 3 emissions reaching about 701,112,000 kg CO2e. This reflects a significant reduction from 2023, where Scope 1 emissions were about 534,000 kg CO2e and Scope 2 emissions were approximately 1,434,000 kg CO2e. The Society achieved a 34% reduction in Scope 1 and 2 emissions from 2020 to 2023. Coventry Building Society has set ambitious climate commitments, aiming for Net Zero for Scope 3 upstream emissions by 2030 and a comprehensive Net Zero target across all scopes by 2040. They have also committed to a 43% reduction in Scope 1 and 2 emissions by 2030, using 2020 as the baseline year. These targets are part of their broader sustainability strategy, which includes collaboration with various sectors to address complex emissions challenges. The Society is actively engaged in climate initiatives, having signed the Climate Pledge in June 2022, demonstrating their commitment to reducing their carbon footprint and contributing to global climate goals.
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| 2020 | 2021 | 2022 | 2023 | 2024 | |
|---|---|---|---|---|---|
| Scope 1 | 671,000 | 000,000 | 000,000 | 000,000 | 000,000 |
| Scope 2 | 80,000 | 0,000,000 | 0,000,000 | 0,000,000 | 0,000,000 |
| Scope 3 | 724,628,000 | 000,000,000 | 000,000,000 | 000,000,000 | 000,000,000 |
How Carbon Intensive is Coventry Building Society's Industry?
How Carbon Intensive is Coventry Building Society's Location?
Coventry Building Society's Scope 3 Categories Breakdown
Coventry Building Society's Scope 3 emissions, which decreased by 0% last year and decreased by approximately 3% since 2020, demonstrating supply chain emissions tracking. Nearly all of their carbon footprint comes from suppliers and value chain emissions, representing nearly all emissions under the GHG Protocol, with "Purchased Goods and Services" being the primary emissions source at 2% of Scope 3 emissions.
Top Scope 3 Categories
Coventry Building Society'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.
Coventry Building Society has established climate goals through participation in recognized frameworks and target-setting initiatives. Companies often set interim 2030 targets and long-term 2050 net-zero goals to demonstrate measurable progress toward decarbonization.
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Frequently Asked Questions
Common questions about Coventry Building Society's sustainability data and climate commitments