Lloyds Banking Group Sustainability Profile
Lloyds Banking Group, a prominent financial services organisation headquartered in Great Britain, has been a cornerstone of the UK banking industry since its founding in 1765. With a strong presence across England, Scotland, and Wales, the group operates through various well-known brands, including Lloyds Bank, Halifax, and Bank of Scotland. Specialising in retail and commercial banking, Lloyds Banking Group offers a diverse range of products and services, such as personal and business banking, insurance, and investment solutions. Its commitment to customer service and innovation has positioned it as a leader in the market, with notable achievements including a significant role in the UK’s economic recovery post-2008 financial crisis. With a focus on digital transformation, Lloyds continues to enhance its offerings, ensuring it meets the evolving needs of its customers.
DitchCarbon Score
How does Lloyds Banking Group'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
Lloyds Banking Group's score of 100 is higher than 100% of the industry. This can give you a sense of how well the company is doing compared to its peers.
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Lloyds Banking Group's reported carbon emissions
In 2024, Lloyds Banking Group reported total carbon emissions of approximately 123,960,000 kg CO2e, with significant contributions from Scope 3 emissions, which accounted for about 404,247,000 kg CO2e from purchased goods and services alone. The group's Scope 1 emissions were about 20,441,000 kg CO2e, while Scope 2 emissions totalled approximately 42,000 kg CO2e. Lloyds Banking Group has set ambitious climate commitments, aiming for net zero carbon operations by 2030. This includes a target to reduce direct emissions (Scope 1 and 2) by at least 90% from a 2018 baseline. Additionally, the group plans to cut energy consumption across its operations by 50% and limit travel-related carbon emissions by 50% compared to pre-COVID-19 levels. The bank's climate strategy also includes a commitment to reduce the carbon intensity of its entire portfolio by 50% by 2030, with a long-term goal of achieving net zero by 2050. In 2023, they established a target to reduce absolute emissions from their Commercial Banking agriculture portfolio by 25% between 2021 and 2030. Overall, Lloyds Banking Group is actively working towards substantial reductions in its carbon footprint, aligning with industry standards and contributing to broader climate goals.
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| 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | |
|---|---|---|---|---|---|---|---|---|
| Scope 1 | 52,192,000 | 00,000,000 | 00,000,000 | 00,000,000 | 00,000,000 | 00,000,000 | 00,000,000 | 00,000,000 |
| Scope 2 | 178,628,000 | 0,000,000 | 000,000 | 00,000,000 | 00,000,000 | 0,000 | 00,000 | 0,000 |
| Scope 3 | 72,984,000 | 000,000,000 | 000,000,000 | 00,000,000 | 00,000,000 | 000,000,000 | 000,000,000 | 000,000,000 |
How Carbon Intensive is Lloyds Banking Group's Industry?
How Carbon Intensive is Lloyds Banking Group's Location?
Lloyds Banking Group's Scope 3 Categories Breakdown
Lloyds Banking Group's Scope 3 emissions, which decreased by 9% last year and increased by approximately 810% since 2017, 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 largest emissions source at 61% of Scope 3 emissions.
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Lloyds Banking Group'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.
Lloyds Banking Group 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.
