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 64% 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 Scope 2 emissions accounting for about 28,000 kg CO2e. The majority of their emissions fall under Scope 3, which includes significant contributions from purchased goods and services (about 5,023,000 kg CO2e), business travel (approximately 659,000 kg CO2e), and employee commuting (around 1,400,000 kg CO2e). Oaknorth Bank has made notable climate commitments, aiming for net zero emissions across all scopes by 2028. This includes a target to achieve net zero for their UK supply chain, encompassing Scope 1, 2, and 3 emissions. Additionally, they are targeting a 60% reduction in financed emissions by 2030, using 2022 as a baseline. In previous years, their emissions have shown fluctuations, with 2022 emissions at about 101,024,000 kg CO2e and 2021 at approximately 216,000 kg CO2e for Scope 3. The bank has positioned itself as a leader in sustainability within the banking sector, having announced in 2019 that it became one of the first banks globally to achieve net carbon zero status through offsetting its Scope 1 and 2 emissions.
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| 2019 | 2020 | 2021 | 2022 | 2023 | |
|---|---|---|---|---|---|
| Scope 1 | - | - | - | - | - |
| Scope 2 | - | 00,000 | 00,000 | 00,000 | 00,000 |
| Scope 3 | 98,000 | 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.
