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.
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.
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.
Virgin Money UK's score of 22 is lower than 65% of the industry. This can give you a sense of how well the company is doing compared to its peers.
In 2023, Virgin Money UK reported total carbon emissions of approximately 672,694,000 kg CO2e, comprising 617,314,000 kg CO2e from Scope 1 emissions and 55,380,000 kg CO2e from Scope 3 emissions. Notably, there were no reported Scope 2 emissions. The Scope 3 emissions included significant contributions from 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's emissions data was less detailed, with a specific mention of 32,300 kg CO2e related to mortgages, but overall emissions figures were not disclosed. Despite the emissions data, Virgin Money UK has not set specific reduction targets or climate pledges, indicating a potential area for future commitment. The company operates within a sector increasingly focused on sustainability, and its emissions reporting reflects a growing awareness of climate impact.
Access structured emissions data, company-specific emission factors, and source documents
2023 | |
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Scope 1 | 617,314,000 |
Scope 2 | - |
Scope 3 | 55,038,000 |
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.