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 68% 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 breakdown of Scope 3 emissions for 2022 included significant contributions from purchased goods and services (48,544,000 kg CO2e), employee commute (3,700,000 kg CO2e), business travel (755,000 kg CO2e), and capital goods (2,039,000 kg CO2e). The company has not set specific reduction targets or initiatives as part of its climate commitments, and there are no disclosed SBTi (Science Based Targets initiative) reduction targets. The emissions data is cascaded from its parent company, Virgin Money UK PLC, indicating a corporate family relationship that influences its reporting. Virgin Money UK's emissions per £m revenue were approximately 0.001535 kg CO2e in 2023, reflecting its operational efficiency in relation to financial performance. The company continues to monitor its carbon footprint and is expected to align with broader industry standards for climate action in the future.
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| 2019 | |
|---|---|
| Scope 1 | - |
| Scope 2 | - |
| Scope 3 | 6,277,000 |
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 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.
