Principality Building Society Sustainability Profile
Principality Building Society, a prominent financial institution based in Cardiff, GB, has been serving its members since its establishment in 1860. As one of the largest building societies in the UK, it primarily operates in Wales and the borders, offering a range of financial services tailored to meet the needs of its community. The society is renowned for its core products, including savings accounts, mortgages, and insurance services, all designed with a member-focused approach. Notably, Principality Building Society has achieved significant milestones, such as being awarded for its customer service excellence and maintaining a strong market position within the mutual sector. With a commitment to ethical banking and community support, Principality continues to stand out in the competitive financial landscape.
DitchCarbon Score
How does Principality Building Society'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 Construction Work 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
Principality Building Society's score of 56 is higher than 75% of the industry. This can give you a sense of how well the company is doing compared to its peers.
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Principality Building Society's reported carbon emissions
In 2024, Principality Building Society reported total carbon emissions of approximately 3,353,000 kg CO2e, with emissions distributed across various scopes: 239,400 kg CO2e from Scope 1, 1,100 kg CO2e from Scope 2, and about 3,107,000 kg CO2e from Scope 3. The Scope 3 emissions were primarily driven by purchased goods and services (approximately 1,876,900 kg CO2e) and employee commuting (about 586,000 kg CO2e). In 2023, the Society's emissions were slightly lower, totalling around 2,962,600 kg CO2e, with Scope 1 emissions at 257,400 kg CO2e, Scope 2 at 1,400 kg CO2e, and Scope 3 at approximately 2,696,000 kg CO2e. This indicates a commitment to reducing their carbon footprint, as they achieved a reduction of about 42,000 kg CO2e across their operations in 2025. Principality Building Society has set a target to achieve net zero emissions in Scopes 1 and 2 by 2030, demonstrating a proactive approach to climate commitments. This target is part of their broader strategy to enhance sustainability and reduce their environmental impact. The Society's emissions data is not cascaded from any parent organization, indicating that these figures are independently reported.
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| 2021 | 2022 | 2023 | 2024 | |
|---|---|---|---|---|
| Scope 1 | 243,000 | 000,000 | 000,000 | 000,000 |
| Scope 2 | 600 | 000 | 0,000 | 0,000 |
| Scope 3 | 1,520,800 | 0,000,000 | 0,000,000 | 0,000,000 |
How Carbon Intensive is Principality Building Society's Industry?
How Carbon Intensive is Principality Building Society's Location?
Principality Building Society's Scope 3 Categories Breakdown
Principality Building Society's Scope 3 emissions, which increased by 15% last year and increased by approximately 104% since 2021, demonstrating supply chain emissions tracking. The vast majority of their carbon footprint comes from suppliers and value chain emissions, representing the vast majority of total emissions under the GHG Protocol, with "Purchased Goods and Services" being the largest emissions source at 60% of Scope 3 emissions.
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Principality Building Society'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.
Principality Building Society 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.
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