Lloyds Banking Group

Lloyds Banking Group: Emissions and Climate Commitments

Lloyds Banking Group, headquartered in GB and operating within the Commercial Banking sector, is committed to reducing its environmental impact. The group has established several targets to achieve net zero operations and decrease carbon emissions across its portfolio.

Carbon Emissions Data:

• 2025: Total emissions were approximately 116,118,400 kg CO2e. Scope 1 emissions totalled about 19,084,000 kg CO2e, while Scope 2 (market-based) emissions were approximately 5,000 kg CO2e. Scope 3 emissions were significant, with upstream leased assets accounting for about 350,383,000 kg CO2e, and employee commute contributing approximately 57,393,000 kg CO2e.
• 2024: Total emissions were approximately 110,869,000 kg CO2e. Scope 1 emissions were around 20,040,000 kg CO2e, and Scope 2 (market-based) emissions were approximately 4,000 kg CO2e. Scope 3 emissions included around 352,522,000 kg CO2e from upstream leased assets and 64,238,000 kg CO2e from employee commute.
• 2023: Total emissions were approximately 119,559,000 kg CO2e. Scope 1 emissions were about 21,740,000 kg CO2e, with Scope 2 (market-based) emissions at approximately 11,000 kg CO2e. Upstream leased assets represented a significant portion of Scope 3 emissions at approximately 398,866,000 kg CO2e.
• 2022: Total emissions were approximately 150,531,000 kg CO2e. Scope 1 emissions were around 27,473,000 kg CO2e, and Scope 2 (market-based) emissions were approximately 2,000 kg CO2e. Upstream leased assets contributed approximately 429,676,000 kg CO2e to Scope 3.
• 2021: Total emissions were approximately 103,618,210 kg CO2e for Scope 1 and 2 combined (market-based data not fully specified). Scope 1 emissions were around 31,938,600 kg CO2e, including approximately 5,403,760 kg CO2e of fugitive emissions. Scope 2 emissions were approximately 71,679,610 kg CO2e.
• 2020: Scope 1 and 2 combined emissions were approximately 121,333,090 kg CO2e. Scope 1 emissions totalled about 33,708,580 kg CO2e, with fugitive emissions at approximately 5,081,900 kg CO2e. Scope 2 emissions were around 87,624,510 kg CO2e.
• 2019: Scope 1 and 2 combined emissions were approximately 150,263,000 kg CO2e. Scope 1 emissions were about 42,650,000 kg CO2e, and Scope 2 (market-based) emissions were approximately 387,000 kg CO2e.
• 2018: Total emissions were approximately 115,961,000 kg CO2e. Scope 1 emissions were about 49,299,000 kg CO2e, and Scope 2 (market-based) emissions were approximately 1,951,000 kg CO2e. Scope 3 emissions were 64,710,000 kg CO2e.
• 2017: Total emissions were approximately 303,065,000 kg CO2e. Scope 1 emissions were about 51,953,000 kg CO2e, and Scope 2 (market-based) emissions were approximately 178,711,000 kg CO2e. Scope 3 emissions were 72,876,000 kg CO2e.
• 2016: Total emissions were approximately 340,261,000 kg CO2e. Scope 1 emissions were about 53,023,000 kg CO2e, and Scope 2 emissions were approximately 202,319,000 kg CO2e. Scope 3 emissions were 84,918,000 kg CO2e.
• 2015: Total emissions were approximately 395,543,000 kg CO2e. Scope 1 emissions were about 58,851,000 kg CO2e, and Scope 2 emissions were approximately 239,709,000 kg CO2e. Scope 3 emissions were 96,983,000 kg CO2e.
• 2014: Total emissions were approximately 437,721,000 kg CO2e. Scope 1 emissions were about 59,856,000 kg CO2e, and Scope 2 emissions were approximately 261,623,000 kg CO2e. Scope 3 emissions were 116,242,000 kg CO2e.
• 2013: Total emissions were approximately 444,235,000 kg CO2e. Scope 1 emissions were about 73,196,000 kg CO2e, and Scope 2 emissions were approximately 333,212,000 kg CO2e. Scope 3 emissions were 37,827,000 kg CO2e.
• 2007: Total emissions were approximately 192,836,000 kg CO2e. Scope 3 business travel emissions were about 30,474,000 kg CO2e. Data for Scope 1 and 2 emissions are not available for this year.
• 2006: Total emissions were approximately 191,847,000 kg CO2e. Scope 3 business travel emissions were about 29,705,000 kg CO2e. Data for Scope 1 and 2 emissions are not available for this year.
• 2005: Total emissions were approximately 191,981,000 kg CO2e. Scope 3 business travel emissions were about 29,540,000 kg CO2e. Data for Scope 1 and 2 emissions are not available for this year.
• 2002: Total emissions were approximately 225,283,000 kg CO2e. Scope 3 business travel emissions were about 26,333,000 kg CO2e. Data for Scope 1 and 2 emissions are not available for this year.

Climate Commitments and Reduction Targets:

Lloyds Banking Group has set ambitious targets to achieve net zero carbon operations by 2030. Key commitments include:

• Operational Emissions: A target to reduce direct operational emissions (Scope 1 and 2) by at least 90% by 2030, compared to a 2018 baseline. This is an increase from previous targets of 75%.
• Energy Consumption: A goal to reduce total energy consumption by 50% by 2030, compared to 2018/19 levels.
• Portfolio Carbon Intensity: An aim to reduce the carbon intensity of its entire portfolio by 50% by 2030.
• Specific Sector Targets: For its Commercial Banking agriculture portfolio, a target to reduce absolute emissions by 25% between 2021 and 2030.
• Long-term Ambition: To achieve net zero by 2050.

These targets reflect a proactive approach to managing climate-related risks and contributing to a low-carbon economy.