Oaknorth Bank
OakNorth Bank, officially known as OakNorth Bank Limited, is a prominent player in the UK banking sector, headquartered in London, GB. Founded in 2015, the bank has quickly established itself as a leader in providing tailored financial solutions to small and medium-sized enterprises (SMEs). Specialising in commercial lending, OakNorth Bank offers unique products such as bespoke loans and innovative financial services designed to meet the specific needs of its clients. The bank's commitment to leveraging technology for efficient lending processes sets it apart in a competitive market. With a strong focus on growth and customer satisfaction, OakNorth Bank has achieved significant milestones, including rapid loan book expansion and recognition for its contributions to the SME sector. Its strategic approach and market position underscore its role as a vital financial partner for businesses across the UK.
DitchCarbon Score
How does Oaknorth 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
Oaknorth Bank's score of 36 is higher than 87% of the industry. This can give you a sense of how well the company is doing compared to its peers.
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Oaknorth Bank's reported carbon emissions
In 2023, Oaknorth Bank reported total carbon emissions of approximately 115,288,000 kg CO2e, with no emissions from Scope 1 and 28,000 kg CO2e from Scope 2. The majority of their emissions, about 115,260,000 kg CO2e, fell under Scope 3, which includes categories such as investments, business travel, and employee commute. Comparatively, in 2022, the bank's total emissions were about 101,024,000 kg CO2e, indicating an increase in emissions year-on-year. The Scope 2 emissions for 2022 were 28,000 kg CO2e, while Scope 3 emissions accounted for approximately 100,996,000 kg CO2e. Over the years, Oaknorth Bank has shown a trend of decreasing total emissions from 2019 (315,000 kg CO2e) to 2021 (248,000 kg CO2e), but the figures have risen again in the subsequent years. The bank has not set specific reduction targets or climate pledges, which may limit their commitment to addressing climate change. Overall, Oaknorth Bank's emissions data highlights the importance of focusing on Scope 3 emissions, which represent the largest portion of their carbon footprint. The bank's ongoing efforts to monitor and report emissions will be crucial in shaping future climate strategies.
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| 2019 | 2020 | 2021 | 2022 | 2023 | |
|---|---|---|---|---|---|
| Scope 1 | - | - | - | - | - |
| Scope 2 | 46,000 | 00,000 | 00,000 | 00,000 | 00,000 |
| Scope 3 | 171,000 | 000,000 | 000,000 | 000,000,000 | 000,000,000 |
Industry emissions intensity
Location emissions intensity
Reduction initiatives & disclosure networks
Companies disclose and commit to reducing emissions to show they are serious about reducing emissions impact over time. They can also help a company track its progress over time.
Oaknorth Bank is not participating in any of the initiatives that we track. This may change over time as the company engages with new initiatives or updates its commitments. DitchCarbon will update this information as it becomes available.
