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 carbon emissions of approximately 63.7 million kg CO2e. This figure includes 8.7 million kg CO2e from Scope 1 and 2 emissions, while Scope 3 emissions accounted for about 55.0 million kg CO2e. The breakdown of Scope 3 emissions reveals significant contributions from purchased goods and services (approximately 48.5 million kg CO2e), employee commuting (about 3.7 million kg CO2e), and business travel (approximately 755,000 kg CO2e). Virgin Money UK has not disclosed specific reduction targets or initiatives as part of its climate commitments. The emissions data is cascaded from its parent company, Virgin Money UK PLC, indicating a corporate family relationship that influences its reporting and sustainability strategies. The company continues to monitor its carbon footprint and is committed to improving its environmental performance, although specific reduction initiatives or targets have not been outlined in the available data.
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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 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.
