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Provident Financial
Financial IntermediationUnited KingdomLSE: VANQ.L
Last verified 5 months agovanquisbankinggroup.com
Provident Financial, now operating as Vanquis Banking Group plc, is a venerable UK financial services provider headquartered in Great Britain. Established in 1880, the group boasts a long-standing history in financial intermediation, evolving to meet the diverse needs of customers across the United Kingdom.
Today, its core operations focus on delivering essential credit products and savings solutions. Through brands like Vanquis Bank and Moneybarn, it specialises in credit cards, personal loans, vehicle finance, and competitive savings accounts, uniquely serving individuals often excluded by mainstream lenders. This commitment to financial inclusion underscores its market position as a key provider in the non-standard lending sector.
49
DitchCarbon score
+12 vs industry average
Provident Financial’s score of 49 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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Industry Intensity
Low
Financial Intermediation has below-average carbon intensity
Industry performance
0.096
20182025
The Financial Intermediation industry has reduced its overall emissions by 33% since 2018
Emissions trajectory 2020 – 2027
20202021202220232024202520262027
Reported emissions
Scope 1
•••kg CO₂e
Scope 2
•••kg CO₂e
Scope 3
•••kg CO₂e
Total reported
•••kg CO₂e
Scope 3 accounts for ••• of total emissions.
Provident Financial's reported carbon emissions
Provident Financial, a UK-based financial intermediation services company, reported total carbon emissions of approximately 288,968,000 kg CO2e in 2024. This figure includes Scope 1 emissions of 202,000 kg CO2e, Scope 2 emissions (from purchased electricity) of 556,000 kg CO2e, and Scope 3 emissions of 334,823,000 kg CO2e. Key contributors to Scope 3 emissions included business travel at 1,076,000 kg CO2e, employee commute at 1,125,000 kg CO2e, and fuel and energy related activities at 275,000 kg CO2e.
Looking back, in 2022, the company's Scope 1 emissions were 155,000 kg CO2e and Scope 2 emissions from purchased electricity were 453,000 kg CO2e. Significant Scope 3 categories in 2022 included investments at 227,524,000 kg CO2e and purchased goods and services at 16,420,000 kg CO2e.
For 2021, Scope 1 emissions were 311,000 kg CO2e, and Scope 2 emissions were 125,000 kg CO2e. Important Scope 3 categories included purchased goods and services at 17,579,000 kg CO2e and fuel and energy related activities at 409,000 kg CO2e.
In 2020, Provident Financial's total emissions were approximately 4,720,000 kg CO2e, comprising Scope 1 emissions of 408,000 kg CO2e, Scope 2 emissions of 1,113,000 kg CO2e, and Scope 3 emissions of 3,199,000 kg CO2e. Business travel was a notable Scope 3 contributor at 2,271,000 kg CO2e.
Provident Financial has a long-term commitment to achieve net-zero carbon dioxide emissions across all scopes (Scope 1, 2, and 3) by 2040. To support this, they plan to establish science-based targets and other interim targets by September 2023.
Science Based Targets Initiative (SBTi) commitments, cascaded from Vanquis Banking Group Plc, indicate a near-term target to reduce absolute Scope 1 and Scope 2 GHG emissions by 39.9% by 2028 from a 2021 base year. Furthermore, Vanquis Banking Group Plc aims for 78% of its suppliers by spend covering purchased goods and services to have science-based targets by 2027. These near-term targets are classified as consistent with reductions required to keep warming to 1.5°C.
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Provident Financial’s Climate Goals (2030 & 2050)
2 goals2028
39.9% reduction in Scope 1
Vanquis Banking Group Plc commits to reduce absolute scope 1 and 2 GHG emissions 39.9% by 2028 from a 2021 base year. Vanquis Banking Group…
At risk39.9%
2028
39.9% reduction in Scope 2
Vanquis Banking Group Plc commits to reduce absolute scope 1 and 2 GHG emissions 39.9% by 2028 from a 2021 base year. Vanquis Banking Group…
Behind target39.9%
Showing SBTi-validated targets only. Sign up or sign in to see all disclosed climate targets.
Scope 3 top emissions categories
5 of 15 categories disclosedSee all scope 3 categories
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Climate initiatives
Science Based Targets Initiative
2028 targetSee details
Active
Carbon Disclosure Project
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Active
The Climate Pledge
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Not active
UN Global Compact Climate Champions initiative
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Not active
RE 100
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Not active
Climate Action 100
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Not active
Emissions comparison with industry peers
View similar organisationsCompanyCountryIndustryLast updatedScoreDetails
Provident Financial5 months ago
49
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Frequently asked questions
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