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 38 is higher than 63% 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 115,316,000 kg CO2e. This figure includes 28,000 kg CO2e from Scope 2 emissions and a significant 115,288,000 kg CO2e from Scope 3 emissions, which encompass various categories such as purchased goods and services (5,023,000 kg CO2e), employee commute (1,400,000 kg CO2e), and business travel (659,000 kg CO2e). Comparatively, in 2022, the bank's total emissions were about 101,051,000 kg CO2e, with Scope 2 emissions remaining consistent at 28,000 kg CO2e and Scope 3 emissions at 101,024,000 kg CO2e. This indicates a rise in emissions from 2022 to 2023. Oaknorth Bank has made significant climate commitments, having announced in 2019 its goal to achieve net carbon zero status by offsetting its Scope 1 and Scope 2 emissions by 2030. Additionally, the bank aims to reach net zero for all Scope 1, 2, and 3 emissions related to its UK supply chain by 2028. Furthermore, it targets a 60% reduction in financed emissions by 2030, using 2022 as the baseline year. The emissions data for Oaknorth Bank is cascaded from its parent organization, OakNorth Bank Plc, reflecting its commitment to sustainability and climate action within the banking sector.
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| 2019 | 2020 | 2022 | 2023 | |
|---|---|---|---|---|
| Scope 1 | - | - | - | - |
| Scope 2 | - | - | 00,000 | 00,000 |
| Scope 3 | 98,000 | 00,000 | 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.
