Paragon Banking Sustainability Profile
Paragon Banking Group, commonly referred to as Paragon Bank, is a prominent financial institution headquartered in Great Britain. Established in 1985, the bank has evolved significantly, focusing on specialist lending and savings products. With a strong presence across the UK, Paragon Bank primarily operates in the banking and financial services industry, offering unique solutions in areas such as buy-to-let mortgages, personal loans, and savings accounts. Paragon Bank distinguishes itself through its commitment to customer service and tailored financial products, catering to both individual and business clients. The bank has achieved notable milestones, including a robust market position as a trusted provider of financial services, recognised for its innovative approach and strong customer relationships. With a focus on responsible lending and sustainable growth, Paragon Bank continues to make a significant impact in the UK banking landscape.
DitchCarbon Score
How does Paragon Banking'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
Paragon Banking's score of 79 is higher than 88% of the industry. This can give you a sense of how well the company is doing compared to its peers.
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Paragon Banking's reported carbon emissions
In 2024, Paragon Banking reported total carbon emissions of approximately 1,356,000 kg CO2e, a decrease from approximately 1,525,000 kg CO2e in 2023. The emissions breakdown for 2024 includes Scope 1 emissions of approximately 818,000 kg CO2e, Scope 2 emissions of approximately 475,000 kg CO2e, and Scope 3 emissions of approximately 468,000 kg CO2e. This reflects a significant reduction in emissions, particularly from their operational sites, where they achieved a 46% reduction in both Scope 1 and Scope 2 emissions from 2017 to 2021. Paragon Banking has set ambitious climate commitments, aiming for net zero emissions across all scopes by 2050. They have also committed to reducing Scope 1 and Scope 2 emissions by 50% by 2030 from a 2020 baseline. Additionally, they have offset their operational footprint for the financial year ending 30 September 2022 and are on track to achieve net zero by 2030. The organization’s emissions data is sourced directly from Paragon Banking Group PLC, with no cascaded data from parent companies. Paragon Banking's ongoing efforts and targets demonstrate a proactive approach to addressing climate change and reducing their carbon footprint.
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| 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | |
|---|---|---|---|---|---|---|
| Scope 1 | 1,009,000 | 000,000 | 000,000 | 000,000 | 000,000 | 000,000 |
| Scope 2 | 995,000 | 000,000 | 000,000 | 00,000 | 000,000 | 000,000 |
| Scope 3 | 622,000 | 000,000 | 000,000 | 000,000 | 000,000 | 000,000 |
How Carbon Intensive is Paragon Banking's Industry?
How Carbon Intensive is Paragon Banking's Location?
Paragon Banking's Scope 3 Categories Breakdown
Paragon Banking's Scope 3 emissions, which decreased by 4% last year and decreased by approximately 25% since 2019, demonstrating supply chain emissions tracking. Their carbon footprint includes suppliers and value chain emissions, with Scope 3 emissions accounting for 27% of total emissions under the GHG Protocol, with "Fuel and Energy Related Activities" being the largest emissions source at 90% of Scope 3 emissions.
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Paragon Banking'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.
Paragon Banking has not publicly committed to specific 2030 or 2050 climate goals through the major frameworks we track. Companies often set interim 2030 targets and long-term 2050 net-zero goals to demonstrate measurable progress toward decarbonization.
