Paragon Banking

Paragon Banking, a UK-based financial intermediation services company, reported total carbon emissions of approximately 1,202,000 kg CO2e in 2025. This included 706,000 kg CO2e from Scope 1 emissions, 74,000 kg CO2e from Scope 2 market-based emissions, and 422,000 kg CO2e from Scope 3 emissions.

Looking back, Paragon Banking's total emissions have shown a downward trend from 1,963,000 kg CO2e in 2021 to 1,202,000 kg CO2e in 2025. Specifically, in 2024, the company's total emissions were approximately 1,356,000 kg CO2e (818,000 kg CO2e Scope 1, 70,000 kg CO2e Scope 2 market-based, and 468,000 kg CO2e Scope 3). In 2023, total emissions were approximately 1,525,000 kg CO2e, comprising 976,000 kg CO2e in Scope 1, 524,000 kg CO2e in Scope 2 (location-based), and 487,000 kg CO2e in Scope 3.

Paragon Banking has set several climate commitments. The company aims for operational net zero emissions by 2030 across all scopes. Furthermore, Paragon Banking is committed to achieving net zero across all attributable greenhouse gas emissions, including financed emissions, by 2050.

In terms of specific reduction targets, Paragon Banking has committed to reducing its Scope 1 emissions by 50% by 2030 from a 2020 baseline, and its Scope 2 emissions by 50% by 2030 from a 2020 baseline. Between 2017 and 2021, the company achieved a 46% reduction in both Scope 1 and Scope 2 CO2e emissions from its sites.