Lloyds Banking Group

Lloyds Banking Group's reported carbon emissions

Lloyds Banking Group, headquartered in GB, has made significant commitments to reduce its carbon footprint. For 2025, the bank reported total emissions of approximately 173,448,000 kg CO2e, comprising Scope 1 emissions of 19,084,000 kg CO2e and Scope 2 (market-based) emissions of 5,000 kg CO2e. Scope 3 emissions for the same year were substantial, with upstream leased assets accounting for 350,383,000 kg CO2e and employee commute contributing 57,393,000 kg CO2e. In 2024, total emissions were approximately 172,052,000 kg CO2e, including Scope 1 at 20,040,000 kg CO2e and Scope 2 (market-based) at 4,000 kg CO2e. Key Scope 3 contributors included upstream leased assets at 352,522,000 kg CO2e and employee commute at 64,238,000 kg CO2e. The group has set ambitious targets to achieve net zero carbon operations by 2030. This includes a commitment to reduce direct operational emissions (Scope 1 and 2) by at least 90% by 2030, compared to 2018/19 levels. Furthermore, Lloyds Banking Group aims to reduce its total energy consumption by 50% by 2030, also from a 2018/19 baseline. The bank is also working towards a 50% reduction in the carbon intensity of its whole portfolio by 2030 and has a long-term goal of achieving net zero by 2050. As of 2024, progress indicates that Scope 2 emissions reductions are on track, and Scope 1 reductions are also progressing positively towards the 2030 targets. The bank also reported a 25% reduction target for absolute emissions in its Commercial Banking agriculture portfolio between 2021 and 2030.