Virgin Money UK
Virgin Money UK, officially known as Virgin Money Holdings (UK) plc, is a prominent financial services provider headquartered in Australia. Established in 1995, the company has evolved significantly, expanding its operations across the UK and offering a diverse range of banking and financial products. Operating primarily in the banking industry, Virgin Money UK focuses on personal banking, savings accounts, mortgages, and credit cards. Its unique approach combines innovative technology with customer-centric services, setting it apart in a competitive market. With a commitment to transparency and ethical banking, Virgin Money UK has garnered a strong reputation, achieving notable milestones such as its acquisition of Northern Rock in 2012. Today, it stands as a key player in the UK financial landscape, recognised for its dedication to customer satisfaction and sustainable practices.
DitchCarbon Score
How does Virgin Money UK'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 UK's score of 22 is lower than 79% of the industry. This can give you a sense of how well the company is doing compared to its peers.
Virgin Money UK's reported carbon emissions
In 2023, Virgin Money UK reported total carbon emissions of approximately 673,694,000 kg CO2e, comprising 617,314,000 kg CO2e from Scope 1 emissions and 55,038,000 kg CO2e from Scope 3 emissions. Notably, there were no reported Scope 2 emissions. The Scope 3 emissions included categories such as capital goods (2,039,000 kg CO2e), business travel (313,000 kg CO2e), and employee commute (3,700,000 kg CO2e). For the previous year, 2022, Virgin Money UK disclosed emissions related to mortgages, amounting to 32,300 kg CO2e per square metre of revenue, although total emissions data for that year was not provided. Despite these figures, Virgin Money UK has not set specific reduction targets or climate pledges, indicating a potential area for future commitment in line with industry standards for climate action. The absence of defined reduction initiatives suggests that the company may need to enhance its climate strategy to align with global sustainability goals.
Unlock detailed emissions data
Access structured emissions data, company-specific emission factors, and source documents
| 2023 | |
|---|---|
| Scope 1 | 617,314,000 |
| Scope 2 | - |
| Scope 3 | 55,038,000 |
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 UK is not committed to any reduction initiatives 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.
