Provident Financial Sustainability Profile
Provident Financial plc, commonly known as Provident, is a leading financial services provider headquartered in Great Britain. Established in 1880, the company has evolved significantly, focusing on consumer credit and personal loans, primarily serving the UK and Ireland. With a strong emphasis on responsible lending, Provident offers a range of products, including home credit, personal loans, and credit cards through its subsidiary, Vanquis Bank. What sets Provident apart is its commitment to customer service and tailored financial solutions that cater to individual needs. Recognised for its market position, Provident Financial has achieved notable milestones, including a robust customer base and a reputation for innovation in the financial sector. As a trusted name in consumer finance, Provident continues to adapt and grow within an ever-changing industry landscape.
DitchCarbon Score
How does Provident Financial'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
Provident Financial's score of 46 is higher than 65% of the industry. This can give you a sense of how well the company is doing compared to its peers.
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Provident Financial's reported carbon emissions
In 2024, Provident Financial reported total carbon emissions of approximately 288,968,000 kg CO2e. This includes Scope 1 emissions of about 202,000 kg CO2e, primarily from stationary combustion (107,000 kg CO2e) and mobile combustion (5,000 kg CO2e). Scope 2 emissions, derived from purchased electricity, accounted for approximately 556,000 kg CO2e. The most significant contributor to their carbon footprint was Scope 3 emissions, which totalled around 334,823,000 kg CO2e, with notable sources being business travel (1,076,000 kg CO2e) and employee commuting (1,125,000 kg CO2e). Comparatively, in 2022, the company reported total emissions of about 247,788,000 kg CO2e, indicating a substantial increase in emissions over the two-year period. The breakdown for 2022 included Scope 1 emissions of approximately 154,000 kg CO2e and Scope 2 emissions of about 453,000 kg CO2e, with Scope 3 emissions reaching around 247,181,000 kg CO2e. Provident Financial has set ambitious climate commitments, aiming to reduce absolute Scope 1 and 2 GHG emissions by 39.9% by 2028, using 2021 as the base year. Additionally, they plan for 78% of their suppliers, by spend on purchased goods and services, to have science-based targets by 2027. These targets are aligned with the Science Based Targets initiative (SBTi) and reflect the company's commitment to addressing climate change effectively. The emissions data and reduction targets are sourced from Vanquis Banking Group plc, the parent company, and are not cascaded from any other organization.
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| 2015 | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2024 | |
|---|---|---|---|---|---|---|---|---|---|
| Scope 1 | 1,405,000 | - | - | 0,000,000 | 000,000 | 000,000 | 000,000 | 000,000 | 000,000 |
| Scope 2 | 3,207,000 | - | - | 0,000,000 | 0,000,000 | 0,000,000 | 000,000 | 000,000 | 000,000 |
| Scope 3 | 5,199,000 | - | - | 0,000,000 | 0,000,000 | 0,000,000 | 00,000,000 | 000,000,000 | 000,000,000 |
How Carbon Intensive is Provident Financial's Industry?
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Provident Financial's Scope 3 Categories Breakdown
Provident Financial's Scope 3 emissions, which increased by 36% last year and increased significantly since 2015, demonstrating supply chain emissions tracking. Nearly all of their carbon footprint comes from suppliers and value chain emissions, representing nearly all emissions under the GHG Protocol, with detailed category breakdown helping identify key emission sources across their value chain.
Top Scope 3 Categories
Provident Financial'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.
Provident Financial has established climate goals through participation in recognized frameworks and target-setting initiatives. Companies often set interim 2030 targets and long-term 2050 net-zero goals to demonstrate measurable progress toward decarbonization.
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Frequently Asked Questions
Common questions about Provident Financial's sustainability data and climate commitments