Yorkshire Building Society Sustainability Profile
Yorkshire Building Society, often referred to as YBS, is a prominent financial institution headquartered in Bradford, GB. Established in 1864, it has grown to become one of the largest building societies in the UK, serving millions of members across England, Scotland, and Wales. The society operates primarily in the financial services industry, focusing on savings accounts, mortgages, and insurance products. YBS is renowned for its commitment to customer service and competitive interest rates, distinguishing itself in a crowded market. With a strong emphasis on mutuality, it prioritises the needs of its members over profit, fostering a loyal customer base. Over the years, Yorkshire Building Society has achieved significant milestones, including various awards for its innovative products and services, solidifying its position as a trusted name in the financial sector.
DitchCarbon Score
How does Yorkshire Building Society'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
Yorkshire Building Society's score of 34 is higher than 54% of the industry. This can give you a sense of how well the company is doing compared to its peers.
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Yorkshire Building Society's reported carbon emissions
In 2022, Yorkshire Building Society (YBS) reported total carbon emissions of approximately 4,160,000 kg CO2e, with emissions distributed across various scopes: 8,000 kg CO2e from Scope 1, 1,582,000 kg CO2e from Scope 2, and 1,763,000 kg CO2e from Scope 3. The Scope 3 emissions included significant contributions from business travel (352,000 kg CO2e) and purchased goods and services (8,000 kg CO2e). In 2021, YBS's total emissions were about 1,954,000 kg CO2e, with Scope 1 emissions at 1,309,000 kg CO2e, Scope 2 at 2,378,000 kg CO2e, and Scope 3 at 1,275,000 kg CO2e. The trend indicates a substantial reduction in total emissions from 2020, where they peaked at approximately 2,707,000 kg CO2e, primarily driven by Scope 1 emissions of 1,613,000 kg CO2e. Despite these figures, YBS has not disclosed specific reduction targets or initiatives as part of their climate commitments. The absence of SBTi (Science Based Targets initiative) reduction targets suggests that while YBS is aware of its carbon footprint, it has yet to formalise a comprehensive strategy for emissions reduction. Overall, YBS's emissions data reflects a commitment to transparency, although further action may be needed to establish clear reduction goals and initiatives in line with industry standards.
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| 2020 | 2021 | 2022 | |
|---|---|---|---|
| Scope 1 | 1,613,000 | 0,000,000 | 0,000 |
| Scope 2 | - | 0,000,000 | 0,000,000 |
| Scope 3 | 1,094,000 | 0,000,000 | 0,000,000 |
How Carbon Intensive is Yorkshire Building Society's Industry?
How Carbon Intensive is Yorkshire Building Society's Location?
Yorkshire Building Society's Scope 3 Categories Breakdown
Yorkshire Building Society's Scope 3 emissions, which increased by 38% last year and increased by approximately 61% since 2020, demonstrating supply chain emissions tracking. Most of their carbon footprint comes from suppliers and value chain emissions, with Scope 3 emissions accounting for 53% of total emissions under the GHG Protocol, with "Business Travel" being the largest emissions source at 20% of Scope 3 emissions.
Top Scope 3 Categories
Yorkshire Building Society'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.
Yorkshire Building Society 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.
