Virgin Money
Virgin Money, officially known as Virgin Money UK PLC, is a prominent financial services provider headquartered in Great Britain. Established in 1995, the company has evolved significantly, becoming a key player in the banking industry with a focus on personal banking, savings, and mortgages. With a strong presence across the UK, Virgin Money distinguishes itself through its innovative approach to customer service and a commitment to ethical banking practices. The company offers a range of core products, including competitive savings accounts, credit cards, and home loans, all designed to meet the diverse needs of its customers. Notable achievements include its successful integration with Clydesdale Bank and Yorkshire Bank, enhancing its market position. Virgin Money continues to be recognised for its customer-centric ethos and dedication to providing unique financial solutions.
DitchCarbon Score
How does Virgin Money'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
Virgin Money's score of 63 is higher than 91% of the industry. This can give you a sense of how well the company is doing compared to its peers.
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Virgin Money's reported carbon emissions
In 2023, Virgin Money reported total carbon emissions of approximately 60,020,000 kg CO2e, comprising 2,677,000 kg CO2e from Scope 1, 6,002,000 kg CO2e from Scope 2, and 55,038,000 kg CO2e from Scope 3 emissions. This reflects a commitment to transparency in their emissions reporting, as they have disclosed data across all three scopes. In 2022, the company recorded total emissions of about 58,000,000 kg CO2e, with 3,395,000 kg CO2e from Scope 1, 6,891,000 kg CO2e from Scope 2, and 48,544,000 kg CO2e from Scope 3. This indicates a slight increase in emissions in 2023 compared to the previous year. Despite the detailed emissions reporting, Virgin Money has not set specific reduction targets or initiatives as part of their climate commitments. The absence of documented reduction initiatives suggests a need for further development in their sustainability strategy. Overall, Virgin Money's emissions data highlights their ongoing efforts to monitor and report on their carbon footprint, while also indicating potential areas for improvement in their climate action plans.
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| 2022 | 2023 | |
|---|---|---|
| Scope 1 | 3,395,000 | 0,000,000 |
| Scope 2 | 6,891,000 | 0,000,000 |
| Scope 3 | 48,544,000 | 00,000,000 |
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.
Virgin Money 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.
