Lloyds Banking Group Sustainability Profile
Lloyds Banking Group, a prominent financial services organisation headquartered in Great Britain, has been a cornerstone of the UK banking industry since its founding in 1765. With a strong presence across England, Scotland, and Wales, the group operates through various well-known brands, including Lloyds Bank, Halifax, and Bank of Scotland. Specialising in retail and commercial banking, Lloyds Banking Group offers a diverse range of products and services, such as personal and business banking, insurance, and investment solutions. Its commitment to customer service and innovation has positioned it as a leader in the market, with notable achievements including a significant role in the UK’s economic recovery post-2008 financial crisis. With a focus on digital transformation, Lloyds continues to enhance its offerings, ensuring it meets the evolving needs of its customers.
DitchCarbon Score
How does Lloyds Banking Group'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
Lloyds Banking Group's score of 94 is higher than 97% of the industry. This can give you a sense of how well the company is doing compared to its peers.
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Lloyds Banking Group's reported carbon emissions
In 2024, Lloyds Banking Group reported total carbon emissions of approximately 12,396,000 kg CO2e globally, with Scope 1 emissions at about 20,441,000 kg CO2e and Scope 2 emissions at approximately 4,000 kg CO2e. For its operations in Great Britain, the group disclosed Scope 2 emissions of about 11,000 kg CO2e, contributing to a total of approximately 21,528,000 kg CO2e for Scope 1 and 2 emissions combined. Lloyds Banking Group has set ambitious climate commitments, aiming for net zero carbon operations by 2030. This includes a target to reduce direct emissions (Scope 1 and 2) by at least 90% from a 2018 baseline. Additionally, the group plans to cut energy consumption across its operations by 50% and limit travel-related carbon emissions by 50% compared to pre-COVID-19 levels. The bank's long-term strategy includes a commitment to reduce the carbon intensity of its entire portfolio by 50% by 2030 and achieve net zero by 2050. These targets reflect a comprehensive approach to sustainability, aligning with industry standards and the UK’s emission reduction goals.
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| 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | |
|---|---|---|---|---|---|---|---|---|
| Scope 1 | 52,192,000 | 00,000,000 | 00,000,000 | 00,000,000 | 00,000,000 | 00,000,000 | 00,000,000 | 00,000,000 |
| Scope 2 | 178,628,000 | 0,000,000 | 000,000 | 00,000,000 | 00,000,000 | 0,000 | 00,000 | 0,000 |
| Scope 3 | 72,984,000 | 000,000,000 | 000,000,000 | 00,000,000 | 00,000,000 | 000,000,000 | 000,000,000 | 000,000,000 |
How Carbon Intensive is Lloyds Banking Group's Industry?
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Lloyds Banking Group's Scope 3 Categories Breakdown
Lloyds Banking Group's Scope 3 emissions, which decreased by 9% last year and increased by approximately 810% since 2017, demonstrating supply chain emissions tracking. Nearly all of their carbon footprint comes from suppliers and value chain emissions, representing nearly all emissions under the GHG Protocol, with "Purchased Goods and Services" being the largest emissions source at 61% of Scope 3 emissions.
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Lloyds Banking Group'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.
Lloyds Banking Group 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.
