TSB is a retail bank which provides banking services across Great Britain to over 5 million customers. This includes personal banking, mortgages and loans, as well as banking services for Britain’s smallest businesses.
In January 2021 TSB unveiled its plans to achieve net-zero carbon emissions from our own operations by 2030, a key commitment in its responsible business strategy, the ‘Do What Matters Plan’ – which launched in July 2020. To date, TSB has already implemented several initiatives to reduce its carbon footprint, including:
- Purchasing renewable energy, enabling a 66% reduction in Scope 1 and 2 emissions in 2020
- Implementing an electric vehicle company car scheme
- Launching the TSB Green Team to help drive the net zero agenda across the organisation
TSB is now setting plans in place to address wider aspects of its emissions, including decarbonising its estate and assessing its Scope 3 emissions.
As part of its overall climate strategy, TSB is committed to investing in Nature Based Solutions through a partnership with Forest Carbon. This partnership enables TSB to invest in projects that capture CO2 and also provide wider climate mitigation benefits such as flood alleviation, habitat creation, employment, sustainable timber and cleaner air. In due course TSB colleagues will be given the opportunity to volunteer at and learn more about these projects and the positive impact they will have on nature and biodiversity.
One of the projects TSB is supporting is Forest Carbon’s ArBolivia GoldStandard agroforestry project, in Bolivia. The dashboard below sets out the total CO2, including the Verified Carbon Standard carbon credits, that this project delivers.