Provident Financial

Provident Financial, a UK-based financial intermediation services company, reported total carbon emissions of approximately 288.97 million kg CO2e in 2024. This figure includes Scope 1 emissions of 202,000 kg CO2e, Scope 2 emissions (purchased electricity) of 556,000 kg CO2e, and Scope 3 emissions of approximately 334.82 million kg CO2e. Key contributors to Scope 3 emissions in 2024 were business travel at 1.08 million kg CO2e, employee commute at 1.13 million kg CO2e, and fuel and energy-related activities at 275,000 kg CO2e.

Looking back, Provident Financial's total emissions fluctuated over recent years. In 2022, while total emissions were not specified, Scope 1 emissions were 155,000 kg CO2e and Scope 2 emissions were 453,000 kg CO2e. Significant Scope 3 contributors in 2022 included investments at 227.52 million kg CO2e and purchased goods and services at 16.42 million kg CO2e. In 2021, Scope 1 emissions were 311,000 kg CO2e and Scope 2 emissions were 125,000 kg CO2e.

Provident Financial has set a long-term net-zero carbon dioxide emissions target for 2040, encompassing all Scope 1, 2, and 3 emissions from its operations. To support this ambition, the company committed to setting science-based targets and interim targets by September 2023.

Its SBTi commitments, inherited from Vanquis Banking Group Plc, include a near-term target to reduce absolute Scope 1 and 2 GHG emissions by 39.9% by 2028, using a 2021 base year. Additionally, Vanquis Banking Group Plc aims for 78% of its suppliers by spend covering purchased goods and services to have science-based targets by 2027.