10-year plan sets out how high profile bank intends to slash emissions generated by company cars, buildings, and boilers
TSB has today set out how it plans to achieve net zero emissions across its operations by 2030, unveiling a decarbonisation strategy that focuses on inking ‘net zero partnerships’ with key suppliers, boosting the efficiency of bank branches, and slashing staff car travel.
The 10-year plan, which has been validated by the Science Based Targets initiative, focuses largely on Scope 1 and Scope 2 emissions, generated by the bank’s direct operations and the purchase of heat and power.
The bulk of these emissions are generated by the use of fossil fuel gas to heat its buildings, the high street bank said, and as such it pledged to reduce the amount of gas it uses for heating, while taking steps to make its branches more energy efficient.
Emissions generated by company cars are another key focus of TSB’s decarbonisation drive, with the firm pledging to deliver an all-electric vehicle fleet by 2026 while also encouraging employees to drive less once Covid-19 restrictions lift.
TSB is aiming to cap its car travel emissions at 50 per cent of pre-lockdown levels once the current round of restrictions are lifted, confirming that reduced travel activity caused by the pandemic saw emissions from company cars drop by 80 per cent.
The bank said the near-term reduction of operational emissions was an important step in the firm’s journey towards delivering a net zero value chain by