Bank Of England Sustainability Profile
The Bank of England, often referred to simply as the BoE, is the central bank of the United Kingdom, headquartered in London, GB. Established in 1694, it plays a pivotal role in the UK’s financial system, overseeing monetary policy, issuing banknotes, and maintaining financial stability. The Bank's core services include setting interest rates, managing inflation, and regulating the banking sector, which are essential for fostering economic growth. With a rich history marked by significant milestones, such as the introduction of the inflation targeting framework in the 1990s, the Bank of England has solidified its position as a leading authority in the global financial landscape. Its unique approach to monetary policy and commitment to transparency have earned it a reputation for reliability and trustworthiness, making it a cornerstone of the UK economy.
DitchCarbon Score
How does Bank Of England'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
Bank Of England's score of 37 is higher than 59% of the industry. This can give you a sense of how well the company is doing compared to its peers.
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Bank Of England's reported carbon emissions
In 2024, the Bank of England reported total carbon emissions of approximately 78,919,000 kg CO2e. This figure includes Scope 1 emissions of about 2,186,000 kg CO2e, which comprise mobile combustion (28,000 kg CO2e), fugitive emissions (186,000 kg CO2e), and stationary combustion (2,143,000 kg CO2e). Notably, the Bank did not report any Scope 2 emissions from purchased electricity. Scope 3 emissions totalled around 57,000,000 kg CO2e, with significant contributions from capital goods (10,703,000 kg CO2e), business travel (3,874,000 kg CO2e), and employee commuting (3,234,000 kg CO2e). In 2023, the Bank's total emissions were approximately 99,291,000 kg CO2e, with Scope 1 emissions at about 2,229,000 kg CO2e and Scope 3 emissions reaching around 73,000,000 kg CO2e. The Bank's emissions have fluctuated over the years, with a notable decrease from 2023 to 2024. Despite these emissions figures, the Bank of England has not set specific reduction targets or initiatives as part of its climate commitments. The absence of documented reduction targets suggests a need for further action in aligning with industry standards for climate accountability. The Bank's emissions data is not cascaded from any parent organization, indicating that it operates independently in its reporting and climate strategy.
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| 2015 | 2016 | 2021 | 2022 | 2023 | 2024 | |
|---|---|---|---|---|---|---|
| Scope 1 | 3,045,000 | 0,000,000 | 0,000,000 | 0,000,000 | 0,000,000 | 0,000,000 |
| Scope 2 | 5,563,000 | 0,000,000 | 000,000 | - | - | - |
| Scope 3 | 11,519,000 | 00,000,000 | 0,000,000 | 000,000 | 00,000,000 | 00,000,000 |
How Carbon Intensive is Bank Of England's Industry?
How Carbon Intensive is Bank Of England's Location?
Bank Of England's Scope 3 Categories Breakdown
Bank Of England's Scope 3 emissions, which decreased by 10% last year and increased by approximately 71% since 2015, demonstrating supply chain emissions tracking. Most of their carbon footprint comes from suppliers and value chain emissions, with Scope 3 emissions accounting for 69% of total emissions under the GHG Protocol, with "Capital Goods" being the largest emissions source at 54% of Scope 3 emissions.
Top Scope 3 Categories
Bank Of England'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.
Bank Of England 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.
