Paragon Banking
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 76 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. This includes Scope 1 emissions of about 818,000 kg CO2e, primarily from mobile combustion (323,000 kg CO2e), and Scope 2 emissions of around 475,000 kg CO2e, with 70,000 kg CO2e from purchased electricity. Additionally, Scope 3 emissions were approximately 468,000 kg CO2e, with significant contributions from fuel and energy-related activities (421,000 kg CO2e) and waste generated in operations (44,000 kg CO2e). Comparatively, in 2023, the total emissions were about 1,525,000 kg CO2e, indicating a reduction in emissions year-on-year. The company achieved a notable 46% reduction in CO2e emissions from its sites between 2017 and 2021, applicable to both Scope 1 and Scope 2 emissions. Looking ahead, Paragon Banking has set ambitious targets to further reduce its carbon footprint. The organisation aims for a 50% reduction in both Scope 1 and Scope 2 emissions by 2030, using a 2020 baseline. Furthermore, it has committed to achieving net zero across all attributable greenhouse gas emissions, including financed emissions, by 2050. Paragon Banking's climate commitments reflect a proactive approach to sustainability, aligning with industry standards and contributing to global climate goals.
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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 |
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.
Paragon Banking 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.
