Virgin Money UK Sustainability Profile
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 82% 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 UK's reported carbon emissions
In 2023, Virgin Money UK reported total emissions of approximately 8,679,000 kg CO2e for Scope 1 and 2, with no data available for Scope 3 emissions. The Scope 3 emissions included significant contributions from purchased goods and services (about 48,544,000 kg CO2e), employee commuting (approximately 3,700,000 kg CO2e), business travel (about 755,000 kg CO2e), and capital goods (approximately 2,039,000 kg CO2e). In 2022, the company disclosed a total of about 10,376,000 kg CO2e for Scope 1 and 2 emissions, with Scope 1 emissions at approximately 3,395,000 kg CO2e and Scope 2 emissions at about 989,000 kg CO2e. Scope 3 emissions for that year included about 313,000 kg CO2e from business travel. Virgin Money UK's emissions data is cascaded from its parent company, Virgin Money UK PLC, which provides the foundational data for their climate reporting. However, there are currently no specific reduction targets or climate pledges outlined in their initiatives. The company continues to focus on understanding and managing its carbon footprint, particularly in the context of its operational and supply chain activities.
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| 2019 | |
|---|---|
| Scope 1 | - |
| Scope 2 | - |
| Scope 3 | 6,277,000 |
How Carbon Intensive is Virgin Money UK's Industry?
How Carbon Intensive is Virgin Money UK's Location?
Virgin Money UK'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.
Virgin Money UK has not publicly committed to specific 2030 or 2050 climate goals through the major frameworks we track. Companies often set interim 2030 targets and long-term 2050 net-zero goals to demonstrate measurable progress toward decarbonization.
